Article | December 10, 2021
IoT in the manufacturing industry introduces a superior technology that is coming up as a blessing for the industry. Manufacturers are enjoying one-of-a-kind benefits and returns on their reinvestments in IoT. Benefits such as enhanced productivity, work safety, reduced downtime, cost-effective operations, and more such benefits of IoT in manufacturing make it more and more popular with each passing day.
The global IoT market is estimated to reach a value of USD 1,386.06 billion by 2026 from USD 761.4 billion in 2020 at a CAGR of 10.53 percent over the forecast period of 2021-2026. So the whole worldwide market of IoT has a bright future in the following years.
“As technology takes over and enhances many of the processes we used to handle with manual labor, we are freed up to use our minds creatively, which leads to bigger and better leaps in innovation and productivity.”
– Matt Mong, VP Market Innovation and Project Business Evangelist at Adeaca
Let’s check out below some exciting facts about IoT in manufacturing and see how IoT makes a difference in the manufacturing industry.
IoT in Manufacturing: Some Interesting Facts
According to PwC, 91% of industrial/manufacturing enterprises in Germany invest in "digital factories" that use IoT solutions.
According to the International Federation of Robotics (IFR), China employs more industrial robots than any other country (many of which are connected to the internet in some way).
According to IoT Analytics, the industrial sector spent more than $64 billion on IoT in 2018 and expects investment in Industry 4.0 to reach $310 billion by 2023.
According to the Eclipse Foundation, most IoT developers are focused on developing smart agriculture systems (26%), while industrial automation is another big focus area (26%). However, home automation is dwindling in popularity, accounting for just 19% of projects.
How Does IoT Work for the Manufacturing Industry?
The Internet of Things (IoT) is a network of interconnected devices that communicate with one another and with other networks. While IoT-enabled devices are capable of various tasks, they are primarily employed to collect data and carry out specific tasks. The implementation of the Internet of Things in manufacturing is often referred to as the IIoT, or Industrial Internet of Things.
IoT makes use of 'smart' devices to collect, process, and act on data. These intelligent devices are equipped with sensors and other software that enable them to communicate and exchange data inside the network.
IoT-enabled equipment gives crucial real-time data that enables manufacturers or machine operators to make informed decisions. So, how does it function in practice?
Sensors capture data from the system and transfer it to the cloud, where it can be analyzed.
The data is transferred to the quality assurance system.
The data that has been analyzed is forwarded to the end-user.
How the IoT is Improving Manufacturing Business Operations
The Internet of Things (IoT) has numerous benefits for the manufacturing industry. We'll go over some of the significant benefits that the Internet of Things brings to the manufacturing business.
Energy Efficiency Solutions
Energy is a high cost in manufacturing. Unfortunately, the current industrial energy infrastructure can only track excessive energy consumption.
The utility bills include the factory's energy consumption records. But, unfortunately, nobody can break down energy consumption to the device level and find out the underperforming pieces. Some energy usage monitoring tools exist, but they only provide partial data, making system analysis difficult.
IoT can help by giving device-level energy data. The sensors will detect any underperforming devices in the network and alert you so you can take action. As a result, the technology can help you reduce energy waste and find other ways to save it.
Market Forecasting
Data is required to determine trends and quality of production at a manufacturing facility. It also helps manufacturers plan and anticipates changes. These forecasts can help with inventory management, employment, cost control, and other operational procedures. Thus, IoT technology makes it easier to foresee and optimize customer requirements.
Proactive Maintenance
The Internet of Things (IoT) uses sensors to gather data about assets' health and productivity. In addition, it uses advanced analytics to give actionable information. These are presented on an appealing dashboard connected to your smart device. This allows for predictive maintenance to be used in the manufacturing industry.
Superior Product Quality
Every manufacturer is determined to produce a high-quality product at a low cost. Therefore, a minor quality modification can have a significant influence on the manufacturing firm.
Customer happiness, waste reduction, sales, and profit can all benefit from high-quality products. But making high-quality products isn't easy.
The Internet of Things (IoT) can assist you in this endeavor. Poorly set, calibrated, and maintained equipment are some of the main reasons for low-quality products. Worst of all, many small things sometimes go ignored as the final product seems perfect. Quality tests show the product is fine, but your consumers start having problems after a couple of months.
Imagine the resources needed to identify and correct the problem. Sensors in an IoT network detect even minimal tweaks in setup and alert operators. The team might momentarily stop production to address the issue before the production cycle gets complete.
Rapid and Informed Decision-Making
The IoT can dramatically improve organizational decision-making. It unlocks vital data about network equipment performance and delivers it to the right person.
Managers and field operators can use this data to improve plant processes and overall production.
In addition to these significant benefits, IoT in manufacturing can help manufacturers improve their manufacturing operations and construct a unit that meets the vision of the smart factory of 2040. The future beyond IoT would be the icing on the cake for all of us, as technology has always amazed us.
Imagine the day when IoT and AI merge, and the virtual gadgets controlled by IoT are the next major milestone. Then, the ideal combination of robotics, AI, and VR may reduce the manufacturing plant size and cost while increasing the output to a level that is unimaginable and unattainable as of now.
Airbus Improved Production Efficiency with Its Factory of the Future Concept
It's a massive task for a commercial airliner to be assembled. The expense of making a mistake throughout making such a craft can be significant, as there are millions of parts and thousands of assembly phases. Airbus has established a digital manufacturing effort called Factory of the Future to optimize operations and increase production capacity. The company has installed sensors on factory floor tools and machinery and supplied workers with wearable technologies, such as industrial smart glasses, to reduce errors and improve workplace safety. The wearable allowed for a 500% increase in efficiency while eliminating nearly all mistakes in one process named cabin seat marking.
Final Words
While the benefits of IoT devices have long been a topic of discussion among technology enthusiasts, the incorporation of IoT in manufacturing is creating a new buzz in the industry. The benefits of IoT in manufacturing, such as remote analysis of operations, processes, and products, are assisting manufacturers in establishing a more productive manufacturing unit. As a result of these benefits, IoT use in manufacturing is accelerating. Recognize the IoT's potential and take a step toward incorporating it into your manufacturing operation in 2022.
FAQ
What is the Industrial Internet of Things (IIoT)?
IIoT stands for Industrial Internet of Things. It uses data to improve industrial efficiency. To enhance industrial performance, it uses embedded sensors, cloud data, and connected devices.
Why is the IoT changing manufacturing?
Real-time monitoring of machines and accurate reporting for better decisions are possible through IoT. This improves business strategies and project control. Thus, the Internet of Things has a significant impact on the profitability of any manufacturing company.
How does the IoT transform the way we do business?
We can use data collected by IoT devices to improve efficiency and help organizations make better decisions. They tell organizations the truth, not what they hope or believe.
{
"@context": "https://schema.org",
"@type": "FAQPage",
"mainEntity": [{
"@type": "Question",
"name": "What is the Industrial Internet of Things (IIoT)?",
"acceptedAnswer": {
"@type": "Answer",
"text": "IIoT stands for Industrial Internet of Things. It uses data to improve industrial efficiency. To enhance industrial performance, it uses embedded sensors, cloud data, and connected devices."
}
},{
"@type": "Question",
"name": "Why is the IoT changing manufacturing?",
"acceptedAnswer": {
"@type": "Answer",
"text": "Real-time monitoring of machines and accurate reporting for better decisions are possible through IoT. This improves business strategies and project control. Thus, the Internet of Things has a significant impact on the profitability of any manufacturing company."
}
},{
"@type": "Question",
"name": "How does the IoT transform the way we do business?",
"acceptedAnswer": {
"@type": "Answer",
"text": "We can use data collected by IoT devices to improve efficiency and help organizations make better decisions. They tell organizations the truth, not what they hope or believe."
}
}]
}
Read More
Article | December 28, 2021
Successful manufacturing marketing strategies are all you need to grow your business and make it visible in every way to your target customer group. Many manufacturers are now becoming vigilant towards B2B marketing and have started forming an individual marketing budget in their annual budgets.
“We should quantify marketing to inform what we do – not to decide what we do.”
– Rory Sutherland, Vice-Chairman, Ogily
As per Statista, nearly half of B2B organizations said they’re planning to boost their content budget in the next year.
As a result, B2B marketing for manufacturers must be redesigned and smartly strategized in order to be more effective and fruitful.
This article will focus on the significant challenges manufacturers face in B2B marketing and how manufacturers use the three most sales-driven manufacturing marketing strategies.
4 Biggest Marketing Challenges in B2B & Manufacturing
Develop Tailored Experiences
You have a few seconds to capture the customer's interest. When done correctly, personalization may help. With persistent multi-channel marketing, you may strengthen your brand in target areas. Additionally, an account-based marketing approach enables you to focus on important clients while generating customized content for them. Integrate agile methods to test novel ideas across your business without demanding extensive approval. Further, crowdsourced content, B2B communities, and advocate marketing should be prioritized.
Convert Leads into Sales
With the right strategy, you may generate more high-quality leads. Relate marketing expenditures to sales and demonstrate the impact of marketing on the bottom line. Align marketing and sales by focusing on the customer's purchasing journey. Increase the quality of your leads, transparency, and collaboration with your partners.
Measure Marketing Performance
Marketers will be asked to demonstrate ROI and forecast future actions. Proactively calculate the MROI (Marketing Return on Investment) on marketing and sales investments. Determine how to get the most out of your marketing budget by doing more with less. Focus on making data-driven judgments rather than relying on guesswork.
Maximize the Marketing Tech Investment
As a manufacturer, you have access to a number of tools and resources. You will need to collaborate with your technical team to integrate it. Collaborate with your IT team to effectively adapt, innovate, and apply technology. By integrating current technologies, you can automate and improve marketing campaigns more efficiently.
“Marketing professionals have to act as conveners and connect the dots so that there is alignment between stakeholders like sales and operation teams and executive leadership on what products and services will drive growth in any given quarter."
– Maliha Aqeel, Director of Global Communication, Fix Network World in conversation with Media7
3 Best B2B Marketing Strategies for Manufacturers That Drive Sales
Consider Purchasing an E-commerce Platform
Consumer behavior is driving manufacturing transformation, particularly the shift to digital channels. Manufacturers who still handle consumers solely by phone, fax, or email risk losing their loyalty as their worlds and tastes grow increasingly digital.
Manufacturers have clearly acknowledged the digital transition in 2021. This year's Manufacturing & E-Commerce Benchmark Report says 98% of manufacturers have, or plan to have, an e-commerce strategy. Moreover, 42% of manufacturers who engaged in e-commerce and digital said it strengthened client connections.
How does e-commerce benefit manufacturers?
Distributes a customized catalog to your customers
Ascertains those spare components are visible
It allows customers to customize items online
Sells your whole range online
Increases your consumer base
Focus on the User Experience and Interface (UX/UI)
The term "User Experience" refers to all elements of an end user's engagement with a business, its goods, and services. The purpose of user experience is to establish a connection between company objectives and user demands. An engaging user interface or user experience keeps users engaged and consumers pleased. Additionally, it enhances the rate of return on investment (ROI). That is why it is necessary to maintain great UI/UX quality.
How does UX/UI benefit manufacturers?
Increases the number of conversions
Support is less expensive
It helps with SEO
Brand loyalty is increased
Embrace an Omni-channel Strategy
Millennials represent 73% of those making buying decisions for companies. Part of this means offering a seamless, consistent shopping experience across a variety of channels. With the right CRM solution, you'll eliminate a lot of the legwork associated with targeting specific buyers. Manufacturers can leverage omni-channel to increase availability, promote sales and traffic, and connect digital touchpoints.
How does Omni-channel benefit manufacturers?
Supports marketers in developing trust
Enhances the user experience with the brand
It clarifies a complex subject
Final Words
Developing a successful manufacturing marketing plan is all that is required to set your organization apart from the competition. Consider thinking outside of the box and developing innovative manufacturing marketing strategies that will surprise your targeted customers and keep you on their minds at all times. B2B marketing for manufacturers has long been a priority, since manufacturers frequently overlook this aspect of their business when they should. Utilize the above-mentioned sales-driven manufacturing marketing methods to assist your organization in growing and reaching the maximum range of target prospects.
FAQ
What is the goal of business-to-business marketing?
B2B marketing's goal is to familiarize other businesses with your brand name and the value of your product or service in order to convert them into clients.
How can manufacturers energize their market presence?
Manufacturers may boost their market presence by advertising on various social media platforms, opting for native language ads, and partnering with influencers to promote their products or services.
Read More
Article | February 22, 2022
The integration of cutting-edge technologies into the manufacturing industry has transformed the whole economy and accelerated the pace of all operations. Cloud computing for manufacturing is a type of technology that enables businesses to gain visibility, scalability, mobility, security, and improved collaboration, among other benefits. Seeing the benefits, many small and large players in the manufacturing business have embraced cloud computing.
“Cloud computing is not only the future of computing, but the present and the entire past of computing.”
– Larry Ellison, co-founder, executive chairman, CTO, and former CEO of Oracle Corporation.
According to IDC research, the manufacturing industry is the biggest player in cloud computing solutions, with an estimated spending of $19 billion. Additionally, Market Research Future projects that the cloud manufacturing market will reach a value of USD 121.72 billion by 2026. As a result, we may predict that manufacturing cloud computing has a long way to go in the industry.
In this article, we will look at some of the key cloud manufacturing applications and case studies of three US-based manufacturing businesses that used manufacturing cloud software ERP.
Applications for Manufacturing Cloud Computing
Effective Marketing
Cloud technology's comprehensive nature makes it an ideal solution for the challenges of marketing campaigns. Manufacturers leverage cloud-based applications to help them plan, execute, and manage marketing initiatives. Manufacturers can also look at production and sales data to see how well their campaign is working.
Product Planning and Development
Product planning and development are closely linked in manufacturing. Manufacturers can get their businesses ready for full production by integrating product planning and development information with supply chain data and communications. Comprehensive integration enables products to move a lot faster from notion to engineering, from prototype to small-scale production, and eventually to full-scale production and shipping.
Production and Stock Tracking
Once production begins, cloud technology may assist in the manufacturing and stock management of products. Businesses can use enterprise resource planning (ERP) software to match production levels to available inventory and sales. Pricing quotations, order intake, and client requests can all be managed using the ERP software. Using a standard product to keep an eye on these things reduces the time it takes to get an order.
Productivity Management
Manufacturers rarely maintain the same level of production throughout the year for all products. They can use cloud-based tools to keep track of when to modify production to meet changing market demands. These software solutions ensure that manufacturers have the necessary raw materials on hand by making communication easier across the supply chain. This helps them easily adjust their orders to accommodate future productivity levels.
Three Case Studies of Cloud Computing in Manufacturing
Ralco Industries Leveraged Cloud to Cut Its Inventory by 15%
Ralco Industries is a producer and supplier of automotive components that specializes in precision-welded assembly and prototypes. To overcome the challenges of their business growth, the industrialists moved to manufacturing software cloud ERP and saved some money in the process. There was a lot of inefficiency, quality issues, excessive expediting prices, and wasted time due to inaccurate inventory and many unconnected systems in the past. Moving to a single integrated cloud ERP software system helped Ralco cut inventory on hand by 15%, scrap by more than 60%. It helped Ralco save money on premium freight by more than 20% and save almost $100 on each purchase order that was processed.
Avon Gear Improved Inventory Accuracy and Grew by 20% Yearly
Avon Gear Company, a maker of precision-machined components and subassemblies for heavy industrial equipment, was looking for an ERP system that would integrate data across the organization. The company chose a cloud-based manufacturing ERP to manage and record production activity, inventory status changes, receiving, shipping, and other plant-floor data. Consequently, Avon Gear's inventory accuracy has increased, and the company's growth rate has gone up by an average of 20% each year.
Wolverine Improved First-pass Quality by 15-20% Using Cloud
An automobile brake system technology firm, Wolverine Advanced Materials, found that its manual methods were not sustainable, especially when it came to supporting fast development. To grow and embrace lean manufacturing, the firm chose cloud ERP, which enabled it to properly assess cost and profitability by part. Using manufacturing cloud software, ERP, the company's factory floor workers can see all client orders and conveniently categorize them by material so that they can better manage their schedules. This has resulted in increased production and cost savings for Wolverine. Also, overtime was cut by 60%, while first-pass quality increased by 15% to 20%.
Final Word
For manufacturers, cloud computing is a game changer. Manufacturing companies must deal with a lot of different sites and supply chains, which requires the use of large, complex database applications.
The Cloud computing for manufacturing is expediting industrial operations and overall business decisions in the manufacturing industry. Cloud computing enables industrial organizations to improve visibility across large fleets of facilities. It also contributes to standardization by synchronizing and supplying data for new forms of analytics. Supply chain management becomes more effective and product development gets easier with cloud computing. So, instead of debating whether to use cloud computing, take action and use cloud computing in your business.
FAQ
What is cloud computing in manufacturing industry?
Cloud computing refers to the on-demand provision of IT resources over the internet. Instead of buying, running, and maintaining physical data centers and servers, you can use a cloud service. This approach would help you get computing power, storage, and databases when you need them, rather than buying and running your own.
How does cloud computing help the manufacturing industry?
Cloud-based solutions are more rapidly deployed than traditional systems, which enables firms to stay current with new innovations. Also, they are easier to change and grow, and they have the potential to make resellers more likely to use them.
Why cloud computing vital to modern manufacturing?
Cloud computing impacts all aspects of manufacturing. It enables manufacturers to see and control all manufacturing data and take informed production decisions. This is the reason why it is vital to modern manufacturing.
Read More
Article | November 20, 2021
Additive manufacturing in America plays a significant part in reviving the manufacturing industry and establishing the country as a leader in applying additive manufacturing technology. The United States was formerly the industrial leader, but it fell out of favor between 2000 and 2010 for many reasons, including recession and structural and financial instability.
In this challenging time, technology interventions such as additive manufacturing in the manufacturing business have allowed the industry to survive. As per the recent report by A.T. Kearney, the USA, the industry leader in manufacturing, has worked hard to reclaim its top position in manufacturing and has also been named the leader in additive manufacturing.
Let's look at which fields of America are utilizing the benefits of additive manufacturing technology to reclaim its position as the industry leader.
Additive Manufacturing in America
The manufacturing industry is gravitating toward additive manufacturing, sometimes known as 3D printing. The numerous advantages of additive manufacturing, such as the reduction of material waste, the reduction of prototyping time, the reduction of prototyping costs, the creation of lightweight objects, and the ease with which it can be implemented and recreated, are making it more popular around the world, including in the United States.
In the United States, the additive manufacturing and material industry is expected to be worth $4.1 billion by 2020. China is the world's second-largest economy and is expected to reach a projected market size of US$14.5 billion by 2027, with a CAGR of 27.2 percent from 2020 to 2027.
How does America Leverage the Additive Manufacturing?
US Airforce has launched research into 3D printing
The US Air Force has begun researching 3D printing replacement parts for old planes utilizing a 3D printing platform.
The project initiative credit goes to 3D Systems, Lockheed Martin, Orbital ATK, and Northrop Grumman. America Makes will observe the project in its third stage and be led by the University of Dayton Research. The Air Force Laboratory financed the Maturation of Advanced Manufacturing for Low-Cost Sustainment (MAMLS) program.
The US Air Force will investigate how the 3D printing technology may reproduce components for outdated aircraft. Using additive manufacturing, the replacement parts may be created faster and in smaller batches, with no minimum order quantity. In addition, applying additive manufacturing will reduce the aircraft ground time and eliminate the need for parts warehousing.
American Manufacturing Companies and Additive Manufacturing
3D Systems, Inc.
3D Systems is an additive manufacturing company. Their work goes beyond prototyping. The company's experts use their deep domain expertise in aerospace and healthcare industries to produce competitive additive manufacturing solutions. This global leader in additive manufacturing helps you define business needs, verify manufacturing flow, and scale manufacturing flow.
General Electric
GE has seen the benefits of additive manufacturing and its options for product design, such as the potential to build lighter, more vital components and systems. As a result, they created goods that are better performing, more sophisticated in design, and easier to produce.
Ford
Ford's advanced manufacturing center in Michigan is all about additive manufacturing. The company employs 3D printing extensively in product development and is looking to integrate it into manufacturing lines. As a result, additive manufacturing is now a critical aspect of the Ford product development cycle, enabling prototype parts and product engineering exercises.
Final Words
The American manufacturing industry has experienced a renaissance as a result of the advent of additive manufacturing. Additionally, it has built its national accelerator and leading collaborative partner in additive manufacturing, "America Makes," which is the largest manufacturing industryglobally in terms of revenue and operates in a variety of areas. However, it is mainly focused on 3D printing or additive manufacturing, which is undoubtedly reviving the country's manufacturing sector.
FAQ
What are the significant challenges in additive manufacturing?
Limitations in terms of size, consistency of quality, scalability, a limited variety of materials and high material costs, and limited multi-material capabilities are only a few of the prevalent issues associated with additive manufacturing technology.
Which company is leading in additive manufacturing technology in the USA?
3D Systems Corp. is the leading company in additive manufacturing technology with a revenue of $566.6 million.
{
"@context": "https://schema.org",
"@type": "FAQPage",
"mainEntity": [{
"@type": "Question",
"name": "What are the significant challenges in additive manufacturing?",
"acceptedAnswer": {
"@type": "Answer",
"text": "Limitations in terms of size, consistency of quality, scalability, a limited variety of materials and high material costs, and limited multi-material capabilities are only a few of the prevalent issues associated with additive manufacturing technology."
}
},{
"@type": "Question",
"name": "Which company is leading in additive manufacturing technology in the USA?",
"acceptedAnswer": {
"@type": "Answer",
"text": "3D Systems Corp. is the leading company in additive manufacturing technology with a revenue of $566.6 million."
}
}]
}
Read More