Guide to IoT in Manufacturing – Growth, Benefits, Use Cases [Infographic]

IoT in Manufacturing
Digital Transformation

Guide to IoT in Manufacturing – Growth, Benefits, Use Cases [Infographic]

How Industry 4.0 is revolutionizing manufacturing

The ultimate reason why the manufacturing industry is leveraging Industry 4.0 solutions is to improve productivity, RoI, and customer experience. The Industry 4.0 solutions – IoT, AI, ML has paved the way for improved production quality, employee safety, and minimized machine maintenance costs of manufacturing companies. With this approach, the manufacturers can save up to 40-50% cost. Simply put, Industry 4.0 solutions are no more a choice for manufacturing companies but a necessity. 

How is IoT useful in manufacturing?

“[Leading manufacturers] are getting ROI primarily from applying IoT for connected operations, remote operations, predictive analytics, and preventive maintenance. – Maciej Kranz, Vice President of Strategic Innovation, Cisco.”

Of the different Industry 4.0 solutions, IoT is a primary essence for modern-day manufacturing’s success. Especially, reports claim that manufacturers implementing IoT solutions performed well even in the current COVID 19 scenario. The statistics also point out that IoT implementations will soar post-COVID 19 as most companies have to leverage the technology to ensure employee safety (enables remote operations), at the same time must improve productivity to meet overflowing customer demands.  

According to an IDC report, the growth of IoT across Manufacturing is exploding like anything. The report further states that worldwide spending on the Internet of Things to reach $745 Billion in 2019, led by the Manufacturing, Consumer, Transportation, and Utilities Sectors.

IoT is useful in manufacturing for the below reasons:

IoT for employee safety 

IoT devices are widely used by manufacturing staff to monitor and track machine data from a remote location. Integrated with mobile applications, the workforce can capture real-time machine data on-the-go. This also improves the accuracy of the machine data captured as human data collection is always error-prone. So, IoT creates a win-win situation for both employees and manufacturers. 

IoT for asset tracking 

IoT for asset tracking enables the workforce to track, monitor, and control assets from remote locations.  

Benefits of real-time asset tracking using IoT

  • Eliminates human errors around scanning
  • Enables full utilization of assets
  • Simplifies asset audits
  • Improves the accuracy and transparency of asset data
IoT for inventory management 

IoT devices integrated with mobile applications will help in the process of tracking material flow, out of stock or overstock scenarios in real-time and improve inventory management. 

Benefits of IoT for inventory management

  • Contactless asset tracking 
  • Real-time data for informed decision making
  • Highly accurate
  • Asset tracking using colour, size, shape, location etc. 
  • Accurate and item-wise asset monitoring and auditing
IoT for predictive maintenance 

Assessing the condition of the machines frequently will help companies to avoid costs related to unwarranted machine maintenance cycles. In addition to that, IoT enabled predictive maintenance systems by helping manufacturers collect real-time data from sensors to foresee the failure of machines and delay maintenance cyclones to reduce repair cost. 

IoT sensors can be used to monitor the critical parameters of any manufacturing process. 

  • Vibration
  • Temperature
  • Pressure

Benefits of IoT for machine monitoring 

  • Reduced repair costs
  • Minimal machine failures
  • Minimized downtime
  • Improved maintenance cycles
IoT for production quality 

Maintaining production quality is important for branding and defecting materials falling in the hands of customers will impact manufacturing RoI and branding. IoT plays a prime role in identifying the defective materials produced and helps the operators to inspect the process flaws to avoid production quality problems. With IoT, product quality can be improved dramatically. 

The below infographic will help you with some of the benefits of IoT in Manufacturing.

how is iot used in manufacturing

Top manufacturing companies have already started to implement IoT for acquiring real-time data to monitor machines, track performance, and foresee equipment failure. These factors are contributing to improved productivity, reduced machine maintenance and repair cost, etc. 

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