THE IMPACT OF IN MANUFACTURING TODAY INTERNET OF THINGS IoT - The paradigm shift in the manufacturing domain: IoT - The paradigm shift in the manufacturing domain: ABI forecasts nearly 30 billion devices will be wirelessly connected to the IoT Gartner estimates about 26 billion devices to be connected 97% of manufacturers consider IoT as the most significant technology initiative of the decade. Predictive maintenance Measurement to maximize reliability Install smart machinery to link products for better communication Bar-codes and real-time locating systems to track goods, assets, people, and processes. Sensors, Wi-Fi, GPS, and other connectivity options to track production activities across the supply chain. Minimize failure and accelerate production process Enable multiple products on a single assembly line Can customize production, keep track of stocks Enable late-stage design changes Automates process control, operator tools and service information systems Equip machinery with self-healing capabilities Unlock new reading to better processes or new products Track progressive degradation of production asset Predict and prevent breakdowns Offer visibility into different parts of the machine and operating conditions Notify when data falls outside standard operating limits Record yields at different production steps Sensors can combine with analytics to: • Research by Zebra Technologies Advantages of IoT in Manufacturing: Advantages of IoT in Manufacturing: By 2020, By 2020, IoT improves asset management capabilities via IoT improves asset management capabilities via Internet of Things allows the manufacturer to: Internet of Things allows the manufacturer to: IoT unlocks new insights IoT unlocks new insights Statistical evaluation The present state of IoT in manufacturing The present state of IoT in manufacturing Respond to product demand quickly Optimize supply chain network Improve operational efficiency Utilize assets in a better way Have increased flexibility at workplace Attain faster time to market Reduce input and operational costs Deliver more personalized and curated products A recent survey by SCM World reveals: At Siemens’ electronics manufacturing plant in Germany The completely offline factories will drop from 20% to 0% in next five years Visibility in manufacturing moved to unit level by about 50% Only 10% of manufacturers are limited to single factory-level insights IoT will add $10 to $15 trillion to the global GDP within the next 20 years IoT powered machines and computers handle 75% of the value chain Components under production communicate with machines using product code Machines take next step based on information received from the components Provides real-time visibility of production operation Allows effective coordination at outsourced production environment Instances of IoT at work Cisco’s virtual manufacturing execution system Search Reference http://www.supplychain247.com/article/how_the_internet_of_things_is_transforming_manufacturing_today http://www.cmo.com/features/articles/2015/4/13/mind-blowing-stats-internet-of-things-iot http://www.fool.com/investing/general/2016/01/18/internet-of-things-in-2016-6-stats-everyone-should.aspx http://www.industryweek.com/manufacturing-smarter http://cerasis.com/2015/02/25/internet-of-things/ http://www.ptc.com/product-lifecycle-report/iots-impact-on-manufacturing-innovation suyati.com