IoT driven smart manufacturing gives factories the ability to collate and analyze process related data, in order to exert highly informed and optimal control over the production process. The confluence of information gathered through the means of sensors and the connectivity between machines and components that IoT makes possible, delivers unprecedented efficiencies. Leveraging contextualized data allows for inherently superior processes. In addition, fine control – delivered remotely if need be – further enhances the business’s ability to reduce waste, enhance quality of products and integrate mutually dependant functions.
A study conducted by Markets and Markets Research projects a global smart factories market of USD 205.42 billion by the year 2022. This would constitute a CAGR of 9.3% from the 2017 figure. Access to comprehensive real time data regarding resources, processes, operating assets and products, is a distinct advantage for manufacturers. In a highly competitive market, IoT technologies can help enterprises achieve better production volumes, with greater efficiency at lower input costs per unit.
As a solution, Microsoft Dynamics 365 reconciles CRM and ERP systems for manufacturing businesses to deliver analytics rich in insight and embedded intelligence. Dynamics 365 addresses both front office and the back office needs with a unified, comprehensive and end-to-end system that enhances the management of your entire business.
Process optimization through IoT will drive smart manufacturing
Inter-connectivity of processes is at the heart of smart manufacturing and IoT enables the possibility of a fully inter-connected chain of production stages, with extensive feedback loops built in. Several unique enhancements, such as digitization of maintenance, product bench-marking, value chain enhancement and a fully integrated supply chain – among others – are a natural consequence of the IoT enabled manufacturing process. Advantages that businesses can gain include:
IoT enabled smart manufacturing can offer businesses significantly greater control over their processes, delivering multiple efficiencies, consistent high quality in products and effective cost control. As a fundamental advantage for a manufacturing business, no single process upgrade can deliver the sort of value enhancement that the IoT in manufacturing enables, cumulatively and at each individual stage of production.
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