Beyond the customer level, the Internet of Things (IoT) is modifying the way businesses work. Thanks to increasingly widespread access to high-speed connections, more and more companies are using industrial IoT to improve productivity and equipment maintenance.
WHAT IS INDUSTRIAL IOT (IIOT)?
When the general public thinks of the IoT, they often think of smart home appliances like thermostats and protection systems. Nevertheless, the IoT ecosystem reaches far beyond consumer applications, which has led to the emergence of the Industrial IoT.
In short, the Industrial IoT (IIoT) connects machines and devices in areas where keeping equipment running is critical to productivity and safety. Companies are using IIoT technology to automate previously manual processes and remotely control their assets, discovering new efficiencies and cost savings in the process. Below, we look at how industrial IoT is changing the game for businesses in five primary ways:
Asset tracking – asset tracking; asset management; supply chain management
PREDICTIVE MAINTENANCE
Predictive maintenance is essential to protect and extend the life of industrial assets such as blast turbines, strength activists.
Traditional preservation programs follow a fixed schedule based on time or usage – for example, every 12 months or 1,000 cycles. But because this approach base on average assumptions rather than the actual condition of the equipment, companies can end up maintaining unnecessary equipment.
IoT makes preventive maintenance a flexible and responsive process. An IoT device using microprocessor modules equipped with sensors can monitor material circumstances and issue electronic alarms during a portion of machinery shows signs of wear.
Integrated oil and gas businesses have the greatest to gain from IoT applications for predictive maintenance. According to Hydrocarbon Publishing, more than 2,200 unplanned refinery outages in the US alone between 2009 and 2013. These unplanned outages cost the global processing industry 5% of total production (equivalent to $20 billion per year). Inefficient maintenance practices also lead to unplanned outages, costing refineries worldwide an additional $60 billion per year on average operating costs.
Using sensors and IoT technology, global refineries can save millions of dollars and only perform maintenance procedures when necessary. A simple IoT device cannot monitor key performance metrics in real-time and send alerts when something happens. It means operators can correct malfunctions before they become significant problems and plant outages more efficiently.
| ASSET MONITORING
Similarly, machine rental companies use industrial IoT to complete preventative maintenance for the various air conditioning, earthmoving, and truck rental operations their customers rely on. These monitoring enzymes decrease the cost of sending engineers into the field to remedy unforeseen breakdowns.
GPS-enabled IoT devices also give rental companies remote, real-time visibility into the field’s location and distribution of assets. Corporations can use that data to develop logistics preparation and customer service by organizing more optimal pickup and return areas.
Soon, rental equipment may even become “self-returning.” In 2017, Swedish information and communications technology provider Ericsson collaborated with rental service Cramo and outdoor power tool manufacturer Husqvarna to improve the rental equipment return process. This collaboration has resulted in an innovative proof-of-concept device that eliminates, as far as possible, the need for routine inspections when returning equipment.
| CONDITION MONITORING
In manufacturing, where operational efficiency and continuity are critical, IoT ensures both maintenance and production efficiency.
As a single machine failure can disrupt the entire supply chain, manufacturers have traditionally used inspectors to check machines on the assembly line for performance issues and defects. Unfortunately, this process is expensive – costing more than 30% of sales revenue – and is prone to human error.
Industrial IoT offers cutting-edge solutions for monitoring even the most minor moving parts in real-time. Take industrial yarn and thread manufacturer Service Thread, for example.
Thanks to the integration of IoT microcontrollers into its spinning machines, Service Thread has seen dramatic improvements in machine performance and efficiency. In addition to continuously monitoring the machines, these intelligent devices send timely alerts when they detect a problematic component – the result: long-term savings in operating and maintenance costs.
With IIoT technology, manufacturers can better understand the environmental and operational factors that cause machine failure. This knowledge enables operators to improve their production processes by reducing – or eliminating – the negative aspects.
| SUPPLY CHAIN MANAGEMENT
Visibility is the most valuable commodity in supply chain management. Yet more than 60% of companies lack complete supply chain visibility, and the average inventory accuracy threshold for US retailers is only 63%. These blind spots lead to massive inefficiencies, dissatisfied customers, and billions of dollars in lost tax revenue each year. Fortunately, modern technological advancements have created it possible to illuminate these blind spots with the Internet of Things devices.
Today, a small 4G-connected microcontroller can detect, locate and track moving assets in real-time from virtually anywhere on the globe. At the same time, more robust and affordable IoT platforms have made it possible to collect, organize and analyze data via the cloud.
Features such as automated alerts and incident notifications allow businesses to be more agile and responsive in the event of stock chain disturbances. In general, the sense that IoT solutions can add to SCM increases with the amount and complexity of the equipment chain. The more generous the supply chain and the more actors are involved, the more opportunities there are for IoT solutions to reduce inefficiencies and improve visibility.
| COMPLIANCE MONITORING
Each year, US manufacturers spend an estimated $192 billion on compliance with economic, environmental, and occupational health and safety requirements. Within this astronomical amount, however, there are countless opportunities to improve efficiency.
IoT technologies have already shown great potential in this regard. By remotely sensing sensitive assets, IoT devices enable companies to reduce the cost of compliance significantly. Some examples:
Monitor equipment usage – embedded sensors provide businesses with real-time data on the geographic location, usage, and maintenance needs of expensive machinery such as cranes and bulldozers.
Streamline construction site logistics: Similarly, IoT sensors improve workflow by automatically ordering materials and suggesting the best location for machines and crews. They also offer routes for transporting equipment and supplies around the construction site.
Improving worker safety: Wearable devices connected to the network, such as hard hats, vests, and boots, send workers’ geographic coordinates to a cloud service. This analytics data also identify unsafe conditions and unsafe movements.
By blending machine learning with industrial IoT data, workplace managers can reduce safety and security risks for both workers and equipment.
START THE INDUSTRIAL IOT JOURNEY
The road to industrial IoT starts with deploying a solid platform that stores all the hardware, software, and connectivity needed to build an IoT system.
Some companies choose to build their custom platforms from scratch. It requires the expertise of a domain-specific engineer and infrastructure developer and the resources needed to ensure scalability, network connectivity, and security.
Fortunately, there is a more simplistic alternative. Instead of reinventing the wheel, organizations can use an IoT platform tailored to their business. Consider Particle, a fully integrated, manageable IoT platform that provides a complete infrastructure for your IoT solution from device to cloud. Looking for an iot developer there are many software development companies that can help you in developing iot applications.
