How to significantly improve efficiency and profitability on the factory floor.
Much has been said and written about the business values of the Industrial Internet of Things (IIoT). Through connecting the manufacturing elements (machines) on the factory floor, and collecting and analyzing their data, manufacturers can significantly improve the efficiency and profitability of their operations through intelligent predictive maintenance of equipment and optimal equipment utilization. These aspects of the IIoT can be viewed as listening to the voice of the machine.
As valuable as listening to the voice of the machine is, it enables only a fraction of the full potential of the IIoT. A manufacturing environment can be utilized optimally and its machines maintained when and as needed, but products coming out of it may still have serious quality issues; just consider the recent recalls of smartphones and cars, and the severe financial repercussions and reputation damages they inflicted on their brand owners.
Therefore, in order to harness the full value of the IIoT, both for OEMs/brand owners and for manufacturers, it is critical to perform product analytics and not just process analytics. Listening to the voice of the product improves profitability, as well as revenue, boosts operational efficiency and reduces product cost; and augments performance, quality, and brand protection. The voice of the product represents the next level in achieving the promise of the IIoT.
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