The Internet of Things: What Does It Mean for Manufacturers?
Internet of Things (IoT) as an industry is projected to grow from 5 billion devices installed in 2015 to 24 billion in 2020. By the end of 2017, 76% of manufacturers will be involved in the industry growth and foresee launching industrial IoT applications and use of smart devices. IoT can be a huge game changer for any company in the manufacturing industry. IoT, which is part of smart manufacturing, can aide total visibility on the floor and throughout the entire supply chain. As you begin to utilize IoT, you will be able to track your physical assets, increasing your knowledge on both where they are and what condition they’re in.
Areas with the greatest opportunities for IoT in manufacturing:
- Shipping/Logistics - Real-time management of vehicles, equipment and machines; Optimization of shipping routes to ensure shorter and proper delivery dates
- Warehousing – Finding and connecting open spaces in the warehouse
- Document Management – Everyone having access to the most recent updates on documents
- Assembly – Following the entire assembly process from beginning to end
- Packaging – Tracing item condition through smart labels; exposing possible theft
Connect all areas of your business with the growing industry of IoT. As shown in Figure 1, every aspect can help streamline your supply chain by creating visibility and efficiency. Start with one of the 5 parts of your process that have the most opportunities and go from there.
Figure 1 - Interconnecting IoT Intelligence