The Internet of Things (IoT) has gone from a buzz phrase describing future technology to a concrete reality. According to Wikipedia , “IoT is the interconnection of uniquely identifiable embedded computing devices within the existing Internet infrastructure. Typically, IoT is expected to offer advanced connectivity of devices, systems, and services that goes beyond machine-to-machine communications.”
Many of the current IoT offerings are around personal conveniences such as fitness monitoring devices and remote controlled thermostats. But new products increasingly focus on applications that have the potential to change the face of manufacturing.
Here are several ways IoT may impact your business:
- The enhanced connectivity will allow for more automation of machinery. Your staff will interact with the equipment in a more productive fashion to create better outcomes in accuracy and timeliness.
- Instead of performing reactive maintenance your staff will be better positioned to conduct condition-based upkeep on the machinery. The real-time data IoT provides makes execution much easier.
- Integrating IoT has the potential to provide information faster such as supplier data and customer demand to allow for better real-time decisions.
However your business adopts IoT, these new efficiencies will change processes and bring improvements leading to increased profit.