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4 WAYS IOT IS HELPING MANUFACTURING OPERATIONS NAVIGATE THE POST-COVID WORLD
The Internet of Things technologies played a decisive role in the pandemic response at several industrial enterprises. According to Vodafone’s 2020 IoT Spotlight Research, 84 percent of IoT adopters believe that the technology was important to maintain business continuity during the crisis. And almost three quarters expect Covid-19 to accelerate their adoption plans beyond the pandemic.
Here are five ways IoT is transforming industrial manufacturing operations to help shopfloors navigate the post-Covid World:
Build Digital Twins to Monitor Assets
Digital twins — virtual replicas of physical devices that can be used to run simulations and understand the current and future performance of a product or process — can be a crucial tool in helping industrial enterprises future-proof their operations and build more resilient contingency plans long term. Gartner estimates that by 2023, one-third of mid-to-large-sized companies that implemented IoT will have implemented at least one digital twin associated with a COVID-19-motivated use case. Already, several manufacturing operations use digital twins to recognize equipment failures and enable repairs to be made early — before they cause any delays in the production schedule. Digital twins don’t just identify problems but can also automatically schedule repairs of multiple pieces of equipment in a way that minimizes production stoppages.
Integrate across the Value Chain
Covid-19 is causing a hard reboot of how manufacturing supply chains are being managed. According to a survey conducted by the Institute for Supply Chain Management last year, 97 percent of companies reported disruptions in one form or the other in supply chains due to coronavirus-related transportation restrictions. And IoT seems all set to play a pivotal role in identifying, locating, and tracking the status of shipment until delivery. Gartner estimates that installed IoT endpoints for manufacturing and natural resources industries will grow to 1.9 billion units in 2028 and facilitate real-time data exchange between all supply-chain participants, creating an integrated view of production programs, scheduling, inventories, quality, and anticipated delivery times.