Turning Data into Actionable Insights
Manufacturing IoT solutions will bring an estimated $10-$15 trillion of global GDP in the next 20 years and companies are already seeing significant savings from this approach. Consider these two industry examples:
Throw away preconceptions around the limits of your technology and processes. Embrace new possibilities smart manufacturing can bring.
There’s no one-size-fits all solution. Talk to an expert to evaluate your technical and organizational readiness and identify the best approach for your business.
Identify your biggest value leaks and start there. 80% of results can often be achieved with the first 20% of investment.
A: Recently, Hershey’s implemented sensors to sense candy temperature and then used the data in conjunction with cloud-based machine learning in Microsoft azure and predicted final candy weight to get more accurate measurements. The new insight helped their team make adjustments that yielded product overage of almost $500,000 per batch. Shell implemented an IoT solution for digital pipeline surveillance and wellhead monitoring capabilities for remote areas to remit pipeline pressure, temperature, and flow data, resulting in $1M in savings.
Many companies generally want smarter technology, but can’t process the benefits that new technology could actually bring. They don’t have the expertise needed to architect, implement, and support the right solutions, and they’re unsure how new technology would change their costs and human capital. This is why an outside partner can be particularly helpful.
A: Costs are going to vary drastically depending on the results you want to achieve. One thing we do know, though, is that the cost of instrumentation is dropping, which means the cost to try new solutions is lowering, too. We can use this to our advantage. With simple, open-source platforms and the manufacturing operations you may already have, we can easily implement changes and understand which adjustments will bring the most to your bottom line.
A: At Avid, we first explore what could be possible with smart manufacturing technology. We work with your teams to understand the factors driving your profitability and propose plans around how smarter technology could capitalize on those strengths. We also assess your areas of profit loss and apply smart technology so that you can manufacture more efficiently and effectively.
A: Industrial IoT is simply the technology that connects manufacturing automation technology to a network, where data can be processed in conjunction with other data. With manufacturing IoT devices, companies can connect production equipment with embedded automation controls and manage the supply chain from component to product delivery. In addition, companies can view the end-to-end manufacturing process to optimize efficiency through the network. Industrial IoT technology enables smart manufacturing by connecting intuitive software and hardware for production management, performance analysis, quality and compliance, and human machine interfaces (HMIs) that encourage machine learning and can evolve processes with knowledge.
Learn more about how smart manufacturing can transform your organization. Contact Avid to start the discussion now.
IBM, Schneider Electric, and AVID discuss the opportunities and challenges the rise of the Internet of Things brings to the industrial space.