IoT is changing the way organizations in various industries, including manufacturing, conduct business. Until now, technology has primarily been used to run businesses,  manage manufacturing operations, as well as to automate processes, and collect data related to assembly jobs. However, IoT goes much further in terms of data collection.

IoT helps to collect data from various ‘Things’ about operations, production, quality, utilization, consumption, and so on – and uses it to streamline and refine business processes.

Other important data about various assets and resources are generated as part of production lines in any typical manufacturing process, which generally goes unnoticed or is not captured. This data relates to manufacturing assets and resources and may include operational data, asset health, performance, usage, maintenance, logistics, resource utilization (water, coolant, electricity), and information on some key external factors such as temperature, humidity, input material, transporter, and so on.

51% of manufacturing CEOs are knowledgeable about IoT, and 58% see it as a strategic initiative for business growth.

IoT solution platforms can be used to easily capture and analyze such data in order to uncover hidden insights about various aspects of a manufacturing process and improve operational efficiency. Manufacturing companies have begun to recognize that by providing a digital identity to their physical assets through IoT-based solutions, they can gain better visibility into their operations and significantly improve them.

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