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Industrial IoT Business Guide: Concept, Application, Challenges, and Solutions

Bhagyashri Kambale | March 01, 2022 | 450 views
INDUSTRIAL IOT BUSINESS GUIDE
Industrial IoT (IIoT) is an abbreviation for the Industrial Internet of Things, originally defined as the Internet of Things (IoT). It is utilized across industries, including manufacturing, and shows great positive results, supporting overall business growth.

According to Grand View Research, globally, the industrial internet of things market size was worth around $216.13 billion in 2020 and is predicted to reach over $1.1 trillion by 2028. Is IIoT similar to IoT? The answer is yes.

“If you think internet has changed your life, think again. The internet of things is about to change it all over again.”

– Brendan O’Brien

Like the Internet of Things, the Industrial IoT has multiple use cases and applications. Additionally, the Industrial Internet of Things (IIoT) opens up new opportunities in multiple areas. Some of the industrial internet of things examples are as follows: 

  • The Internet of Things industrial automation and optimization
  • Intelligent manufacturing and smart industries
  • Asset performance management and industrial control
  • Moving towards an on-demand service model
  • New ways of servicing customers
  • New revenue streams

Internet of Things Industrial Applications

According to IDC, manufacturing operations are the primary use case for the IoT in manufacturing. In this article, we'll look at five particular IIOT applications in manufacturing operations, production asset management, and field services that are driving Industrial IoT adoption in manufacturing.

Production Visibility

Industrial IoT can link machines, tools, and sensors on the shop floor, providing much-needed visibility into production for process engineers and management. For instance, businesses may use sensors like RFID and break beams to track components as they travel through assembly automatically. Additionally, industrial IoT apps may provide supervisors and plant managers with a real-time picture of their teams' yield by linking operators’ tools and production equipment. Organizations may utilize this degree of visibility to detect bottlenecks, determine the main cause of issues, and improve more rapidly. Dashboards for real-time IIoT production visibility can help businesses find problems and track productivity in real-time.

Continuous Monitoring for Quality Improvement

Environmental sensors continuously monitor necessary quality conditions and notify management when crucial quality thresholds exceed permissible limits. For instance, temperature control is crucial to pharmaceutical manufacturing. By utilizing IoT-connected sensors, managers may monitor temperature and humidity and receive quick alerts if they deviate from expected values. Continuous monitoring, similar to machine monitoring, can help you keep an eye on your assets in real-time.

Maximize Machine Use

The Industrial Internet of Things enables businesses to link their machinery to the internet. This technology enables organizations to monitor their machines in real-time while also tracking critical KPIs such as overall equipment effectiveness (OEE) and overall process effectiveness (OPE). By monitoring these indicators, businesses may discover and resolve sources of unscheduled downtime, perform preventive maintenance on their equipment, and maximize machine used throughout the operation. According to a recent McKinsey article, sensor data used to forecast equipment failure in production may reduce maintenance costs by up to 40% and unscheduled downtime by half. So, by applying IIoT, you may monitor the key performance indicators (KPIs) that are most important to you.

Improve Plant Management

Using sensors in production plants may enhance their management and minimize the operating expenses of a plant. For example, by employing sensors such as RFID tags to monitor facilities, manufacturers may gather insights to help them optimize space consumption. Using IoT-enabled sensors to monitor environmental factors like temperature, humidity, and others may also help firms better manage their buildings. Finally, businesses can save energy, cut costs, and improve operational efficiency by keeping an eye on their machines and making sure they are running in the right conditions.

Optimize Supply Chain Management

The Internet of Things enables sensors to monitor events across a supply chain, delivering real-time data by tracking inputs, equipment, and products. RFID tags and other sensors can track inventories throughout the supply chain. This gives businesses a better understanding of their inventory and more realistic deadlines for material availability, work in progress, and others. Organizations may use this data to detect interdependencies, map material flow, and monitor production cycle durations. This data aids businesses in predicting risks. It also lowers inventory levels and, perhaps, capital requirements. No code tables hold all of your inventory data. Tables are automatically updated as inventory is consumed during operations.

Industrial Internet of Things vs Internet of Things (IIoT Vs IoT)


IIoT IoT
It is geared for industrial applications such as manufacturing, power generation, and oil and gas. It focuses on a broad range of applications, from wearables to robotics and machinery.
To avoid life-threatening or other emergency circumstances, it employs crucial equipment and gadgets connected through a network that requires precise sensors. Its deployment begins on a modest scale, eliminating the possibility of life-threatening scenarios.
It deals with extensive networks. It deals with modest networks.
It is capable of processing data ranging from mild to high. It is capable of processing enormous amounts of data.
It is highly reliable. It is less reliable.

 

IIoT Adoption Challenges & Solutions


Investment Costs

Significant investment expenses are necessary to transform operations, including hardware, software, and human capital. Businesses frequently view IIoT as a giant leap ahead, resulting in a massive bill. A more effective strategy is to break the projects down into bite-sized implementations with set milestones. This will pave the way for outcome-driven success that can be quantified by top-tier management, resulting in a more passionate reaction and maybe a larger scale resource limitation.

Additionally, expenses can be reduced by utilizing public infrastructure and software-as-a-service rather than custom-built installations. While the cost of IoT continues to decline, numerous organizations' executives are playing the waiting game. This strategy may be good for the short term, but if you wait for prices to go down for a long time, you ccoul lose your competitive advantage and let other people get a better deal.

Data Security

It's easy to get paranoid about the attacks and problems because of all the news about cyber security. One must address these security concerns methodically and recognize measures to secure critical industrial information. Depending on the level of sensitivity, data can be checked and encrypted using a variety of one-way interactions. SCADA systems do not have to combine and act on sensor data; they can be digitally segregated. Additionally, the cloud infrastructure might be networked inside to create a "private" or corporate cloud with no external access. These security challenges can be surmounted if the advantages of the IIoT outweigh the hazards.

Lack of Skilled Professionals

While it is true that the digital world is rapidly merging with the industrial world, the issue remains as to who in the organization can take charge. An individual or team must bridge the IT and OT cultures and meet opposing demands. The program requires a blended IT/OT viewpoint to achieve IIoT goals while increasing operational complexity and responsibilities.

There are several data science certifications, online courses, and conferences available to educate middle management. Start growing competency while making learning and education a management team KPI. Consider partnering with institutions and educational vendors. The executive team's appetite for knowledge must be continual. Learning will be viewed as a lifetime process requiring dynamic stability and continual mobility.

A shortage of competent personnel was also stated in the Morgan Stanley-Automation World Industrial Automation Survey, with 24% of respondents citing a labor shortage. There is a general shortage of highly specialized talents, but it may also be necessary to look 'outside' to get the essential skills. If there is one thing that is certain in this age of digital transformation and the Industrial Internet of Things, it is that no organization can flourish entirely on its own and that networks, ecosystems, and platforms of partners are critical to success.

Final Words

Starting an IIoT project should be done with a straightforward and practical approach. This is not a big company-changing initiative, but a series of small projects or digital test beds that might raise sales, profits, or customer retention. Read our latest industrial internet of things infographic for quick tips on tackling IIoT adoption issues.

FAQ


What are IIoT devices?

IIoT refers to linked sensors, instruments, and other devices networked with industrial applications like manufacturing and energy management.

What is an IIoT platform?

Gartner describes IIoT platforms as a collection of integrated software capabilities. The platform is designed to support industrial assets and their operational environments in safety, security, and mission criticality.

What is the IoE?

The Internet of Everything (IoE) is a concept that builds on the Internet of Things (IoT). It focuses on machine-to-machine (M2M) connections to represent a more complicated system that includes people and processes.

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CORE Industrial Partners Portfolio Company Cadrex Manufacturing Solutions Acquires EPMP

CADREX | October 07, 2022

CORE Industrial Partners (“CORE”), a manufacturing, industrial technology, and industrial services-focused private equity firm, announced today the acquisition of E.P.M.P., Ltd. (“EPMP” or the “Company”), a precision sheet metal fabrication services provider, by CORE portfolio company Cadrex Manufacturing Solutions (“Cadrex”). The Cadrex platform was formed in 2021 and includes ten business units with approximately 1.5 million square feet of manufacturing space and more than 2,000 employees across ten states as well as Mexico. Founded in 1984, EPMP provides high-volume sheet metal punching, forming, welding and assembly capabilities utilizing a variety of different metals, including aluminum, copper and brass, as well as carbon, galvanized and stainless steel. The Company serves a nationwide customer base in the renewable energy, HVAC, food & beverage, and industrials end markets, among others, through an equipment fleet that includes press brakes, turret punches, fiber lasers, combination laser & punch machines and automated fabrication cells. Headquartered outside San Antonio in Seguin, Texas, EPMP operates an ISO 9001-certified facility with over 50,000 square feet of manufacturing space. “EPMP’s significant historical investments in automation-driving material handling systems and robotics augment Cadrex’s high-volume sheet metal fabrication capabilities and make EPMP a highly strategic fit with the platform.” -Matthew Puglisi, Partner at CORE. Clint Plant, President of EPMP, said, For almost 40 years, EPMP has been committed to manufacturing and service excellence, demonstrating that commitment throughout all aspects of our organization. We recognize and appreciate this same customer-centric orientation at Cadrex and we’re looking forward to collaborating with Cadrex and CORE to continue our strong momentum. ABOUT CORE INDUSTRIAL PARTNERS: CORE Industrial Partners is a private equity firm with $700 million of capital commitments investing in North American lower middle-market manufacturing, industrial technology, and industrial services businesses. CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience, and a demonstrated track record of building market-leading businesses. Through our capital, insight, and operational expertise, CORE partners with management teams and strives to build best-in-class companies. ABOUT CADREX MANUFACTURING SOLUTIONS: Cadrex is a leading provider of complex production parts, assemblies, and weldments for a variety of end markets, including information communication technology, aerospace & defense, energy transmission & distribution, food production & agriculture, medical, material handling and electronic gaming & kiosk. With locations in nine states and Mexico, Cadrex offers comprehensive in-house manufacturing capabilities, including laser cutting, sheet metal fabrication, injection molding, electromechanical assembly, CNC punching, CNC machining, robotic welding, stamping, fastener insertion, and tool and die manufacturing, to effectively serve customers with lights-out manufacturing capabilities from low- through high-volume production. ABOUT EPMP: EPMP is a precision sheet metal fabrication services provider for a variety of end markets, including renewable energy, HVAC, food & beverage, and industrials. The Company offers high-volume sheet metal punching, forming, welding and assembly capabilities from an ISO 9001-certified facility outside San Antonio in Seguin, Texas.

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MANUFACTURING TECHNOLOGY

Epicor Acquires MES Provider eFlex Systems, Expanding Industry 4.0 Capabilities to Modernize Manufacturing Production Processes

Epicor | October 07, 2022

Epicor, a global leader of industry-specific enterprise software to promote business growth, today announced it has acquired eFlex Systems, a provider of cloud-based Manufacturing Execution System (MES) technologies. The acquisition expands the Epicor portfolio of Advanced MES capabilities to help manufacturers increase productivity by modernizing their production environments through digital work instructions, advanced process control, and real-time visibility. Financial terms were not disclosed. “I am thrilled to bring eFlex Systems into the Epicor family! Shop floors are a complex intersection of people, machines, robots, and materials, and it’s critical they work seamlessly together, People will continue to be at the heart of manufacturing, and our acquisition of eFlex Systems extends our ability to give Epicor customers the information they need to improve the user experience and unlock new levels of productivity.” -Steve Murphy, CEO Epicor. The eFlex Systems Manufacturing Integrated Platform (MIP®) enables manufacturers to manage and visualize global operations in real time, connecting devices, sensors, and machines with people to help operators build the right part, with the right tool, at the right setting in a safe and repeatable way. This helps manufacturers solve labor challenges by simplifying tasks and extending workers with connected devices which improves productivity. Epicor customers will be able to digitize processes through operator guidance, alerts, traceability, and data collection at the individual task level. Workstations can be configured and connected to their environments through open protocols and tools such as RFID, MQTT, and Node-RED, enabling operators to seamlessly leverage IoT devices such as DC tooling, barcode readers, weight scales, pick lights, PLCs, and others to complete the task at hand. “We’ve always been focused at eFlex Systems on helping customers reimagine manufacturing through sustainable, world-class production processes, By joining with Epicor, we’re furthering our mission to modernize manufacturing and bridge the data gap with cost-effective, easy-to-use solutions that drive efficiencies and throughput.” -Dan McKiernan CEO eFlex. About Epicor: Epicor Software Corporation equips hard-working businesses with enterprise solutions that keep the world turning. For nearly 50 years, Epicor customers in the automotive, building supply, distribution, manufacturing, and retail industries have trusted Epicor to help them do business better. Innovative Epicor solution sets are carefully curated to fit customer needs and built to respond flexibly to their fast-changing reality. With deep industry knowledge and experience, Epicor accelerates its customers’ ambitions, whether to grow and transform, or simply become more productive and effective.

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3D PRINTING

Fortify Ships FLUX CORE 3D Printer to IERUS Technologies

Fortify | October 06, 2022

Fortify, provider of advanced composite-photopolymer printers, announced today that IERUS Technologies received a FLUX CORE 3D printer and Flux Developer materials onboarding software for design and engineering of Defense Systems. The 3D printer will be used to realize complex RF (radio frequency) applications. "Placing a printer at the IERUS Technologies headquarters provides a critical resource to support the growing need for additive manufacturing solutions in electromagnetics for Defense, Fortify's printers are uniquely positioned to print low-loss 3D printing materials, enabling performance advantages where traditional manufacturing falls short (due to machining, weight, and size)." -Eric Versluys, Director of Defense Programs at Fortify. IERUS Technologies, a provider of engineering and design solutions for Defense and commercial customers, such as sensors and strategic systems, is designing novel RF structures such as Graded Refractive Index (GRIN) lenses leveraging Fortify's FLUX CORE system. The Flux Core system enables companies like IERUS to take advantage of the design freedoms enabled by RadixTM, a 3D printable low-loss material developed by Rogers Corporation. "The Fortify 3D printer line will enable IERUS Technologies to develop complex RF structures that push the limits of traditional RF architectures with novel electromagnetic phenomenologies." -Jason Keen, CEO of IERUS Technologies This announcement comes a few months after Fortify's strategic investment from In-Q-Tel and the development of a portfolio of electronic 3D printing materials. IERUS will leverage the FLUX Developer toolkit, an open platform for the development of viscous and filled resins, to optimize printing of RF devices. Fortify will be showcasing 3D printed RF structures printed on the FLUX CORE 3D printer at Array 2022 October 11 - 14 in Waltham, MA. About Fortify: Fortify is transforming the 3D printing industry with its patented DCM (Digital Composite Manufacturing) platform. DCM delivers new levels of additively manufactured part performance by introducing functional additives to photopolymers. By combining a deep understanding of material science with high performance mixing, magnetics, and polymer physics, Fortify is able to produce custom microstructures in high-resolution 3D printed parts. The company is currently focused on applications ranging from injection mold tooling to high performance end-use parts with unique mechanical and electromagnetic properties. Founded in 2016 and based in Boston, Fortify4 technology enables material properties and components unattainable using other additive or traditional manufacturing processes.

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