Take advantage of the Internet – Manufacturing
Posted July 12th, 2013
For manufacturers today, the mantra is better, faster and cheaper. Competition has gone global, customers have become more demanding and change happens in an instant. To compete, manufacturers have to become more efficient, and the best way to become more efficient is to harness the power of technology. Building skills in data analytics technologies will soon be the only way that manufacturers can guarantee the success of the products they sell; gathering, analyzing and acting on big data leads to better-informed, on the spot decisions.
Welcome to the Industrial Internet (otherwise known as II) which fuses the advancements brought on by the two most recent “revolutions”:
- the machines, facilities and physical networks that arose from the Industrial Revolution
- the advances in computer, IT and communications systems brought on by the Internet Revolution.
According to recent reports, manufacturers are embracing the Industrial Internet, with spend estimated to grow from $20 billion in 2012 to approximately $514 billion in 2020. The value created will reach $1.3 trillion by 2020, up from $23 billion in 2020.
The potential benefits to manufacturers are massive, but company leaders need to embrace this potential as an opportunity, not a threat. By connecting machinery to the Internet via software and wireless networks, data is produced. The ability to analyze this data gives management insight into processes and allows real-time resolution of many types of issues.
Here are 5 specific ways in which manufacturers can take advantage of this coming revolution:
- Improve efficiency levels by enabling more accurate and detailed monitoring of machines’ efficiency levels
- Reduce waste and redundancy by monitoring/optimizing power consumption and inventory levels.
- Improve productivity since machine output can be tracked and analyzed to prevent downtime and increase productivity.
- Identify/predict and rectify maintenance issues, allowing manufactures to get more use out of their equipment
- Cut production costs overall because all the information gathered (in aggregate) can help cut downtime and increase productivity.
Currently, we are at the early stages of this revolution -the Industrial Internet – much like the World Wide Web in 1993. However, as these technologies continue to evolve and plant floor automation becomes increasingly common, they will continue to grow in importance.
If you are looking for cutting-edge, strategic workforce solutions to help you organization innovate, evolve and thrive, remember Bayside Solutions. We can provide the highly skilled, highly motivated people you need. Give us a call today!
