Smart Factory: Embrace Industry 4.0 to Kill Demons of Inefficiency at Your Factory

Industry 4.0 initiatives

On this Dussehra, how about taking your first step towards killing the demons of inefficiency by starting Industry 4.0 initiatives at your plant?

Highlights

  1. Modern Industry plagued by issues like unplanned downtime, equipment breakdown, excessive inventory, machine bottlenecks, quality rejection
  2. Industry 4.0 aims to resolve with real-time production insights leveraging IoT & big data
  3. Make way to productivity improvements, energy savings & improvement in labor efficiency, Improvements in equipment maintenance, inventory optimization, and worker health and safety with Datonis, the Industrial IoT platform by Altizon

Dussehra: A festival to burn weaknesses and nurture strengths

Every year, on the occasion of Dussehra, millions of Indian industrialists & manufacturers gear up to perform “Aayudh Pooja”, to usher productivity and prosperity into their plants. The modern industry is plagued with many a demon hindering the productivity of your factory set up like unplanned downtime, equipment breakdown, excessive inventory, machine bottlenecks, quality rejection, and so on. All of these ultimately result in the reduction of throughput, efficiency & productivity.

Real-Time Challenges in Manufacturing Industry

Take a real-time experience of a Global Auto component manufacturer that discovered with high cost associated in the industry as a disadvantage. the company places a group of people to review its principal competitor’s manufacturing operations. The study generated reams of knowledge, however, the senior official accountable for the activity still felt uneasy. He feared that the cluster was obtaining involved in details which things apart from managerial practices—like the age of facilities and their location—might be the first drivers of performance. How to Say?

Our point is simple: before supervisors can pinpoint what’s required to boost manufacturing performance, they must have a good way of determining why some factories are more productive than others. They also need a trustworthy metric for distinguishing and measuring such differences and a framework for thinking about how to improve their performance—and keep it developing. This is no easy order.

Causes of Inefficiency

The root cause of all these problems can be traced to the non-availability of real-time production data for analysis and proactive decision making thereby. Industry 4.0, the oncoming Industrial revolution exactly aims at solving this problem by using smart technology and real-time data to increase productivity and reduce costs. This is made a reality with IoT technology which connects machines, systems, people and products via the internet, creating smart factories. Industry 4.0 rests on dual pillars of a technology like IoT which facilitates collection & communication at real time with machines and a highly-scalable, real-time, big-data analytics engine and alerting and monitoring services that can be used to derive insights from the data.

An IoT powered smart enterprise is prepared for an upcoming event, with its predictive analytics and condition-based monitoring functionalities. Inventory, asset utilization can be planned in advance along with operator shifts and downtimes. This essentially leads to productivity improvements, energy savings, and improvement in labor efficiency. Improvements in equipment maintenance, inventory optimization, and worker health and safety are also sources of value in factories.

With increasing digitization & competition, IoT has long left the list of “good to have” initiative and joined the “should have” list of hygiene factories, irrespective of a size of the enterprise.

According to Business Insider, It forecast that there will be nearly $15 trillion in aggregate IoT investment between 2017 and 2025, with survey data showing that companies’ plans to invest in IoT solutions are accelerating.

Manufacturers across the globe in all areas —automotive, electronics, chemical, durable goods, etc. — have invested heavily in IoT devices, and they’re already reaping the benefits. Gartner believes that by 2017, there will be 8.4 billion devices connected to the IoT. If correct, this will be a 31% increase from 2016. By 2017, the total spending involved with these devices (endpoints, services, etc) will be almost $2 trillion. Gartner also forecasts that $547 million will be spent on IoT securities in 2018.  At Altizon, we specialize in making your enterprises IoT ready with our world’s first Industrial IoT Platform Datonis.

Dussehra is considered as an auspicious start for new initiatives, an occasion for a new beginning. On this Dussehra, how about taking your first step towards killing the demons of inefficiency by starting Industry 4.0 initiatives at your plant? Talk to us how we can help you.

Usher in prosperity in your factory this Dussehra with Datonis! 

 

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IoT Curator - Sep 2018 ThumbnailIoT for Inventory Management