Industrial Internet of Things

Industrial IoT: Applications and Opportunities Within the Manufacturing Sector

Tuesday, April 24, 2018

Today, a forward-thinking perspective is vital for companies to survive and thrive in a competitive market that is controlled by high consumer demands. Here, we will discuss applications of IIoT (Industrial Internet of Things) in the manufacturing sector and explain how its emergence is changing operations and opening doors to businesses across the globe.

What is Industry 4.0?

There are a few key terms and concepts that are important and frequently used by experts discussing Industry 4.0. First, Cyber-Physical Systems, or “smart systems,” are industrial ecosystems that combine the online and physical worlds through various networks and components. These systems can interact with the physical world and respond to issues in real time. The IoT (Internet of Things) employs a similar concept; a network of devices and appliances that can communicate with one another, as well as, the internet.

IIoT takes the IoT to the industry level by creating a network of machines, analytics, and people that comprise a highly efficient and productive system. The basis for all of these processes is cognitive computing. In a general sense, this refers to technological and digital hardware that functions on the principles of artificial intelligence (AI), signal processing, and to a degree, deep machine learning. Essentially, technology can streamline your business operations self-sufficiently, and efficiently maintain product quality with minimal human interaction.

Industrial IoT is Not Alone

Continual innovations are causing manufacturing companies to change. Product life cycles are decreasing dramatically with a rise in new machine ability and the refinement of existing technology. Essentially, machines are producing similar types of products, but in a smaller, faster, and more durable way. The evidence of this can be seen in 3D printing and prototyping.

Potential Complications of Modern Production

Established companies struggle to rapidly adapt to new technologies – all the while feeling the pressure of matching competitors in product development, meeting consumer expectations, and fulfilling the expectations of the market as a whole. However, there is a simple solution: predictive mentality.  Predictive mentality is the mind-set to prevent machine failures before they occur. Investing in the Industrial Internet of Things enables the creation of new solutions and new initiatives as a way to maintain profitability.  

Industrial IoT and IoT

IIoT is complex because the machine ecosystem is inter-connected and cross-dependent.  While machine learning and AI might add to this complexity, they also offer new opportunities from which companies can benefit. Deep Learning is another concept that is wrapped up in AI and IIoT, which is extremely important to the Automated Service Agreements. It’s exactly what serves to achieve preventative rather than reactive care.

Industrial IoT Applications in Today’s Manufacturing Sector

Maintenance is both time-consuming and costly for an end-user. IIoT is a complete game-changer in this regard. It enhances an end-users insight into the efficiency of the machines, so machine problems or low throughput can be corrected quickly. IIoT uses cloud-based analytics for easy retrieval and evaluation of data, and the machines themselves can identify trends or problems (such as improper temperatures or vibrations) and catch a potential breakdown before it occurs. IIoT can also preemptively plan maintenance periods, and automatically request a technician to fix the problem so the machine can keep operating efficiently.

With automatic documentation, the Industrial Internet can save OEMs time and significantly reduce the risk of human error. This new method of data collection is a great way to measure machine efficiency with an intelligent system.

Industrial IoT Implementation: Opportunities

All of the IIoT’s sophisticated processes serve to produce a myriad of benefits. Specifically, with preventative maintenance, the end-user is able to save on total maintenance costs, and generate real-time machine analysis. The intelligent automation of tasks simplifies your job and keeps the machine running.

In modern industry, it is imperative to adapt operations and business mentalities to anticipate the emergence of opportunities associated with Industrial IoT. SteamChain can help get you on your way to benefiting from these innovations. SteamChain’s blockchain technology aggregates transparent machine data from multiple platforms and displays machine data that drives business, while continually adapting and improving manufacturing strategies.

Want to learn more? Reach out to the professionals at SteamChain by email webmaster@steamchain.io or give us a call at (414) 502-8880.

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