As companies make digital transformations using IIoT data, they see immediate results that save time and money.
By Michelle Segrest, Navigate Content, Inc. - Reporting for Efficient Plant Magazine
A plastics manufacturer had a major piece of equipment that was frequently breaking down with no warning. It was a $40-million problem every time it happened. By incorporating a digital-transformation strategy, the company was able to predict the problem five days in advance. “This is the power of the Industrial Internet of Things (IIoT),” said Robert Golightly, senior manager, Product Manufacturing at AspenTech, Bedford, MA (aspentech.com), a supplier of software that optimizes asset performance. “When a machine fails, companies generally wait until the machine is fixed, and when the process is running again, they go back to work. They are forced to do this because there is not enough time to do anything else. But when you have a few more days or even weeks to think about it, suddenly there are all kinds of options. You can use the time to build inventory or reschedule production. There are half-dozen smart business decisions we could make if we had enough time.”
IIoT is having a profound effect on the way companies collect, manage, and analyze data. Click here to read the full article.