The Internet of Things (IoT) is on the verge of revolutionizing the manufacturing industry around the globe. Since there has been an ongoing demand for customization, productivity, and a more efficient global supply chain, manufacturers are beginning to enjoy the multiple benefits of IoT in the manufacturing industry.

To remain competitive, many factories and manufacturing plants are investing in innovative solutions. The IoT-integrated machines are already generating higher revenue, productivity, and efficiency in the supply chain. 

But what benefits does IoT bring to the manufacturing industry? Hereunder, you will see.

What Is IoT and How It Works for the Manufacturing Sector? 

IoT is a network of interconnected devices that can easily communicate with one another or other networks. IoT-enabled devices are capable of performing a variety of tasks, but most commonly they are used to collect data or to perform specific actions. 

IoT uses smart devices to help collect, process and properly execute actions based on data. In addition, you can integrate these devices with sensors or other software to exchange and connect data across the network. 

IoT-integrated equipment offers valuable real-time information that allows machine operators and manufacturers to make informed decisions

  • Sensors take data from the machine and forward it to the cloud. 
  • The data is forwarded to the quality monitoring software.
  • The end-user receives the analyzed data 

So how can this network of smart devices benefit manufacturers? Let us first look at some interesting facts about IoT and manufacturing. 

Interesting Facts about IIOT 

Did you know that IoT will connect 70% of all automobiles by 2023? 

What is even more astonishing is that, according to reports, 

  • IoT has allowed manufacturers to increase their average revenues by 28.5%. 
  • Companies believe IoT and other digital technologies increase productivity by at least 12%. 
  • The market for industrial IoT was expected to grow to $124 billion by 2021.  
  • More than half of all new business systems were expected to include an IoT component by 2020. 

IoT’s Benefits for the Manufacturing Industry 

IoT gives manufacturers an opportunity to create autonomous networks that streamline their manufacturing processes while remaining cost-effective. 

Here are some essential benefits of IoT in manufacturing: 

Much Better Energy Efficiency 

Manufacturing companies must pay a lot of money for energy. The problem with the current industrial energy infrastructure is its inability to track high levels of energy consumption. 

You will also find records of the energy consumed by the entire factory in your utility bills.  

It is impossible to figure out the low-performing parts or break down energy consumption at the device level. Even though there are energy consumption monitoring tools, they only have limited data points and cannot pinpoint the problem precisely with partial data. 

IoT is able to close this gap by providing energy data at the device level. The sensors can detect a device that is not performing well and notify you to take the needed steps. Moreover, this technology can provide insights and suggestions to improve energy efficiency and other savings opportunities. 

Enhanced Maintenance and Forecasting 

Maintaining machines is time-consuming and labor-intensive. It would be great to get automatic alerts for maintenance issues, instead of relying on historical data. 

It is possible to save time and effort by taking proactive maintenance. Industries will not have to plan maintenance.  

The smart devices will take care of the maintenance. Additionally, the sensors can monitor the health of the machines and alert the operators or managers when there is a need for maintenance. 

If the machine is not in need of repairs or replacements, it saves time and money. 

Enhanced Product Quality 

Manufacturers dream of being able to produce high-quality products at a low cost. A minor change in quality can affect the manufacturing process. 

High-quality products can increase customer satisfaction, reduce waste and improve sales. It is not easy to produce high-quality products. 

This is where the IoT can assist you. Low-quality products are often caused by faulty machines that have not been calibrated, set up correctly or otherwise maintained. It is ideal that the final product looks perfect, so it is frequent that the final product’s presentation is overlooked.  

Furthermore, your product passes quality testing, but it is only after a few months that customers begin to experience the problem. 

Imagine how much time and effort it would take to identify and fix the problem. Sensors detect any changes in the configuration and alert the operators. Staff can temporarily stop production to fix the problem before it is too late. 

Lowered Downtime 

It is not enough to produce high-quality products. Industries should produce on time and without any problems. It is possible for the machine to stop working in the middle or end of the production process. 

Imagine a machine that stops working during baking. You are not just concerned about the downtime, but also the raw materials in the machine and production delays. Sometimes, the product that is half baked can prove to be completely useless. This can lead to a significant loss. 

IoT could save manufacturers from these losses. You can even integrate sensors into baking machines to send alerts when performance is declining. You can minimize losses by detecting problems early. 

Make Smarter, Faster and More Informed Decisions 

The IoT has the potential to drastically improve decision-making in an organization. It provides critical information about network performance and gives insights to the appropriate recipients. 

Managers and operators in the field can use this information to make improvements and increase the productivity of their plants.