Industrial Re-Revolution: For Manufacturers Big & Small

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As technology advances and new ways to innovate the manufacturing industry arise, there lies an inherent issue that may stop smaller businesses from utilizing these new technologies. The underlying issue is cost and unfortunately it is scaring people away from modernizing their business. The Industrial Internet of Things (IIoT) can be used to increase efficiency in every facet of a business and is definitely a change that every manufacturer should start to make.

With IIoT leading the charge and the Industrial Re-Revolution well on it’s way, many big name companies have already started investing in this technology. In 2013 investors made over $1.1 billion of investments into the Industrial Internet of Things.  Some of these investors include Google, GM and Ford. With more and more manufacturing companies making the switch to a fully connected workplace and big names investing into the technology, the IIoT is already becoming the mainstream way of managing in the industry.

In 2012, a survey done by Forrester and Zebra Consulting stated only 15 percent of manufacturers had made the switch to at least one IIoT solution. As of this year that small percentage has skyrocketed to almost 63 percent of manufacturers either making the switch or planning the imminent switch to the new tech. As far as start up manufacturing businesses are concerned, these new solutions have led to savings around 12 percent across the industry and has dropped maintenance costs by about 30 percent. This proves that the benefit of implementing IIoT into a business will far outweigh the initial investment.

IIoT isn’t all about just saving money.  The major part of this development is improving efficiency and many companies have already been reaping the benefits. For example Greg Conary, Vice President of France-based Schneider Electrics, has said the three major areas IIoT can help global manufacturers are smart manufacturing, asset performance, and augmented operators. In a statement he said “In the past we did data mining after the fact, usually after the product left the factory. Today, we can have real time analytics on the status of plants, which lets us respond faster to opportunities in the marketplace as they arise, as well as contribute to product quality and asset availability.” (bit.ly/29ubCtE) One of the ways Schneider Electrics helps the consumer achieve maximum asset performance is with a pump they provide that can be monitored digitally and will alert the owner if there is a problem.

Nearly every manufacturer had at least one computer on the shop floor in today’s modern manufacturing industry. These computers are essential for data collection, customer and product management along with with a wide range of different functionalities that are vital for today’s business environment. The workforce relies on these important pieces of technology to help create a smoother running facility and keep everyone informed. The digital revolution that the industry is currently navigating has made the industrial computer a necessary part of the factory floor. Protecting these important machines is as critical as having them there in the first place. Just as a business would secure their private server, it is just as important for a business to protect their industrial computers.

Knowing that these technologies can help any business big or small is an amazing way to keep the manufacturing community together. Making the change to these new technologies is not an easy task and industry leaders investing a lot of money into these advancements is a comforting notion for companies that may have been nervous to dip their toes in the water.

Manufacturing Day has just passed and it’s important to remember that these younger generations thrive on new technologies. Utilizing these new systems can help improve a business while also making it more attractive to new manufacturing talent.

Check out Manufacturing Talk Radio at NJMEP’s Manufacturing Day Event in Somerset NJ: https://mfgtalkradio.com/mfgday-event/

Sources:

http://www.industryweek.com/finance/financing-fourth-industrial-revolution

http://internetofthingsagenda.techtarget.com/feature/Five-IIoT-companies-prove-value-of-internet-connected-manufacturing

http://cerasis.com/2016/03/18/industrial-internet-of-things/

https://www.americanexpress.com/us/small-business/openforum/articles/7-things-every-business-owner-needs-know-internet-things/