Industry Update, Australia: Cognizant’s AVP of Manufacturing, Logistics, Energy and Utilities Consulting Lays Out a Roadmap for Manufacturing Organizations to Jumpstart IoT Journeys and Build Competitive Differentiation
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“Connected devices made possible by the Internet of Things (IoT) present unprecedented opportunities across industry sectors and processes,” writes Badrinath Setlur. “Designing new business models that support IoT-enabled capabilities requires companies to take a multi-pronged approach, to redesign business models and bring a multitude of technologies together.” Excerpts:
“Businesses need to deploy sensors, communicate with multiple devices, and implant advanced analytics to distill actionable insights. Accomplishing all this requires an approach that embraces design thinking aimed at optimizing IoT.
In this landscape, the physical world is highly intertwined with the information world, with every object across the value chain sharing and receiving context-specific information for performing a particular task.
An informed manufacturing organization contains four elements: informed products, processes, people and infrastructure. All parts of the manufacturing value chain can benefit greatly from a deep penetration of digital sensors that enable enhanced visibility and better control of production processes, as well as increased automation of tasks.
By connecting the production line to suppliers, all stakeholders can understand interdependencies, the flow of materials and process cycle times. IoT systems can enable location tracking, remote inventory level monitoring and automatic reporting of material consumption. Access to predictive analytics based on real-time data helps manufacturers identify issues before they happen, lower inventory costs and potentially reduce capital requirements.
The IoT data and network provide interconnectivity between the shop floor and top floor, which enables the automation of specific processes and reduces the human intervention required to address issues or deviations.
Equipment suppliers have a more direct role in the operations and maintenance of manufacturing plants if they embrace new service offerings and business models. Models can pivot around hours of operation rather than equipment sale, and the buyer gets to use the equipment “as-a-service”. This can create entirely new and closely linked business relationships between manufacturers and their suppliers.
Energy is among the highest contributors to cost overhead for manufacturing facilities. IoT systems and automation of environmental controls, such as HVAC and electricity, can create additional cost savings for manufacturers.
IoT can improve and automate decision-making across the manufacturing value chain. However, numerous challenges around standardization, security and privacy, infrastructure and analytics must be addressed before the full potential of IoT can be realized. While the challenges can be overwhelming, the following steps can help organizations jumpstart their IoT journeys and build competitive differentiation.
- Analyze sensory architecture.
- Create an IoT vision tailored to the organization.
- Initiate engagement and employee communication.
- Focus on application development and infrastructure.
- Carry out rapid deployment, monitoring and modification planning.
- Develop product features and embedded sensors
Connected devices are here to stay and the trend will only grow. Leaders are already investing in IoT solutions and reaping benefits. By embracing essentials of the design approach needed to optimize IoT, organizations can align IoT-based solutions to drive value and create a superior experience for customers.”
Click below to read the article, first published in Industry Update, Australia’s leading publication for the manufacturing sector.
