Why is Industry 4.0 Important in manufacturing?

 

 

The industrial world is facing rapidly changing challenges, including technological changes and shifts in global markets. Digitalization and automation are the game changers to meet these challenges. It is essential to collect, understand and use the massive amount of data created in the Industrial Internet of Things (IoT). The manufacturing sector is doing exactly this by combining the real and the digital worlds.

One of technologies that is prevalent in Industry 4.0 is Industrial IoT. To know whatare the benefits of industry 4.0, one should know what Industrial IoT can achieve.

IoT is responsible for the super-fast evolution of industry 4.0, where everything is connected within a common network and the operations are mostly automated, thus reducing the need for much human intervention. Real-time data monitoring improves the decision-making process, and predictability helps reduce the chances of future hazards in the industry, accompanying management of the assets for future workability.

IoT makes Big Data and Data Analytics Possible

IoT is considered a major source of big data. A lot of data is generated by IoT devices that can help a manufacturing unit optimize their processing. It also helps in reducing downtime by ensuring predictive maintenance. Big data analytics can provide different types of insights when used with the IoT. Descriptive analytics gives insights into how a connected device is performing in real time. It can be used for anything from locating a connected device, to understanding how that device is used by costumers, to identifying anomalies. 

 

 

 Features that make Industrial IoT more suitable for Industry 4.0

Combining the real and the digital worlds makes it possible to seamlessly integrate the entire value chain from design to realization, while optimizing with a continuous flow of data. A true Digital Enterprise is able to harness the unlimited power of data by gaining valuable insights to make fast and confident decisions – and to create best-in-class products through efficient production.

An industrial IoT helps a manufacturing unit leverage a digital platform helping it to innovate faster and ultimately become a digital enterprise. Integrating the entire product lifecycle with the factory and plant lifecycle, along with performance data is possible with it. The result is a continuous open loop of optimization, both for the product and the production.

Let’s highlight the benefits

Many people want to know about what are the benefits of Industry 4.0. Here are the main benefits that can derived by the industries.

Cost Efficiency - Machine Monitoring solutions, predictive maintenance strategies, and other advanced operational technology will help manufacturers decrease downtime, increase throughput, and overall, reduce the cost of supplying quality parts.

Democratizing Data - Along with many other industries, manufacturing has suffered from siloed data, not only among separate departments within the organization, but also at different levels (the machine level, the plant level, corporate). A connected operation provides accessibility to disparate data sources, and if done properly, provides an easy way to use that data for effective decision-making.

Operational Agility - Being able to quickly react to fluctuating demand, new product trends, the skills gap, and other unpredictable challenges is key for any manufacturer. With the right technology in place, manufacturers have a greater likelihood to successfully pivot when experiencing adversity.

Documentation and Traceability - With digitized information, a nearly limitless amount of manufacturing data can be stored via the cloud. What this means is that all manually collected information can be converted to a digitized data collection system, which can be used for anything from training new workers with legacy knowledge, to building advanced algorithms with historical data. The options are unlimited as long as the data is stored and accessible in such a way to build solutions.

Retaining Customers: Power among suppliers and consumers has continued to trend towards the customer, with increasing expectations around service and product quality. To meet these rising demands, manufacturers will be forced to adopt technology to support customization, product development, after-sale service, and more.

Conclusion

For those who are unaware and keep searching for what are the benefits of industry 4.0, it enables data-driven decisions, predictive insights, flexible automation and seamless connectivity across the value chain. Industry 4.0 powered by Industrial IoT transforms manufacturing with greater efficiency, agility and quality to meet rapidly evolving customer demands in the digital era.