Altizon’s Research Reveals Real Company Benefits From Internet of Things
Gary Mintchell of The Manufacturing Connection shares his views on Altizon’s Smart Manufacturing Report.
I looked at Smart Manufacturing report recently from Altizon (www.altizon.com). It is an interesting look at some Industrial Internet of Things implementations.
They then looked at overall benefits that their customers derived so far from Industrial Internet of Things projects. The results were distributed with average and spread noted:
• Average Improvement in Topline 5% (3%-8%)
• Average Improvement in Productivity 13% (7% – 50%)
• Savings in Energy Expenses 5% (1%-8%)
• Savings in Indirect Cost 15% (1%-20%)
• Savings in Tooling and Spares Cost 3% (0.5%-6%)
These are interesting numbers. All the companies were implementing productivity improvement projects. Two-thirds also were upgrading maintenance strategies. This showed in an average of 13% improvement in productivity with at least one actually showing a 50% improvement (maybe we don’t want to benchmark the “before”).
