IOT and return on investment
Let’s face the facts – IOT is still in its nascent stages and businesses are unsure about the benefits of asset intelligence and how to go about acquiring and implementing these industrial monitoring technologies. The IOT hype is over but the trough of disillusionment typically precedes mainstream adoption.
Industrial IOT ROI parameters for factories, warehouses
- Warehouse storage optimization
- Understand the utilization of storage bays
- Track Pallets, bins, trollies
- Production shopfloor streamlining
- Understand the time spend in production zones
- Know about the movement of people
- Ascertain equipment that needs frequent inspection
- Contribute towards sustainability
- Monitoring lights, idle machines
- Reduce energy consumption through proactive steps
- Detect ground leakages, current consumption
- Reduce the cost of preventive maintenance
- Industry 4.0, Unplanned downtimes, labor, availability
- Enables shop floor data visualization for immediately actionable items
- Easy to deploy solutions with machine data
- Bring measurement factors into equipment usage patterns
- Plan actionable insights based on usage
- Understand the operating environment and behavior of equipment
- Vibration, tilt, overheating
- Improve productivity & safety through environment monitoring
- Dust levels, Volatile organic compounds
- Reduction in manual inspection steps
- Single point monitoring for legacy machines
- Adherence to proper process workflow
- Asset tracking for compliance
The ultimate goal is to transform and digitize the operations of these legacy assets and connect it all on a single common platform. The data can also be pushed to a cloud solution and can be visualized through on-premise dashboards and other instances.
Customers have by now generally accepted IOT as the main driver of digital transformation. However, in 2018, they will be looking for the business value of IOT and outcomes in every project. There is no doubt that all newly released products and installed assets will be connected with an increasing amount of industrial monitoring sensors and intelligence embedded.
IOT ROI – Connected machines, workforce
As part of building our Industrial IOT ROI matrix, we are in touch with a lot of plant managers and factory supervisors, and we found an interesting similarity among them. Most of them feel that though legacy machinery gives them maintenance nightmares, they find it really tough to do without it. These age-old, well-calibrated machines still give the best output and most of the managers wish whether they could proactively monitor and trace the maintenance related issues and thereby reduce equipment downtime. Read about intelligent connected workforce
It is important to connect these legacy plant and machinery to bring asset intelligence in the factory to have complete control over operations and performance. Any operational disruption affects overall productivity and even can affect the quality of the product. But there are definitely quite a few challenges to make these machines online.
As it stands most such manufacturing equipment units are made only for local communication and not with third party systems. Remote monitoring such machines and equipment becomes extremely tough and all of the assigned personnel would have to go physically and inspect these assets.
We had recently dealt with a client who wanted to track tilt and excess heating from their legacy machines. These machines did not have an option to push the data itself to a PLC and they wanted a wireless solution to track the important parameters in the production shop floor and get the data into one of their data centers.
They wanted us to provide a scalable and flexible system and should be an end to end platform that ranges from data acquisition, integration and visualization. The data collected from the retrofit wireless sensors can minimize unplanned downtime, discover process deficiencies and, can perform proactive maintenance of a particular asset.