The Venture – June 2018

operations. However, local

organizations are offshoring

many manufacturing

activities, so the information

garnered from these sources

may not play a direct role

in their operation. There is

an increasing number of

connected devices involved

in end-to-end supply chain

and logistics activities that

can deliver enormously

valuable information.

McKinsey & Company

suggests that digital-

manufacturing technologies

will transform every link in

the manufacturing value

chain, from research and

development, supply chain,

and factory operations to

marketing, sales, and service.

As such, manufacturers

are waking up to the

opportunities of the IoT and,

as physical assets increasingly

become digitally-connected,

local manufacturers need

to be aware of how the

connected devices and

systems within their entire

manufacturing value chain

can help them drive

productivity at every level

of their business.

Logistics and supply chain

activities are symbiotic,

and must become more

streamlined as expectations

of faster product fulfilment

turnaround times grow.

Stock management

technology is becoming

part of the IoT, with

interconnected devices

letting organisations

communicate and report

on various movements

4 WAYS TO PREPARE
FOR THE IoT

1. CAPACITY MANAGEMENT
   Manufacturers should plan
   sufficiently to meet the growing
   network bandwidth requirements,
   data storage and processing power
   demands of the IoT, as well as the
   resources required to manage them.


2. DATA SECURITY
   The data collected from operational
   assets via connected devices can be
   highly sensitive from a competitive or
   customer privacy perspective, so it is
   essential that security measures are
   adequate to meet legislated guidelines
   and industry standards.


3. DATA STATUS
   Datacentres need to be able to
   distinguish between data for internal
   use and data for business partners up
   and down the supply chain, such as
   retailers. Such data will often need to
   be handled differently in order for it
   to be safely shared with customers or
   suppliers.


4. CONSUMER PRIVACY
   Australian privacy legislation
   mandates the protection of customer
   personal information. This can impact
   manufacturers’ ability to improve
   services based on customer usage.

INNOVATION