Unexpected failure or performance erosion of production equipment can significantly impact manufacturers, but how can IoT help prevent this?
The power of the Internet of Things (IoT) in manufacturing is well documented in being able to deliver value by allowing firms to monitor the products they sell in the field and selling a service as part of a product portfolio.
IoT can have massive benefits when it comes to looking after your own manufacturing operations. It is estimated that the automotive industry loses around 800 hours a year through downtime caused by machine malfunctions, at a cost of around £1m an hour.
Preventing costly production failures by introducing IoT technology in the manufacturing environment delivers huge benefits in terms of:
- Downtime
- Cost savings
- Production insight
There are dozens of other ways IoT can deliver benefits.
This report answers some of the most common questions that manufacturers have with regards to implementing IoT.
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