The IoT is a trend that is here to
stay—meaning manufacturers
will have to adapt to the trend
or risking falling behind.WHAT THE
INTERNET OF
THINGS
MEANS FOR
MANUFACTURING
The Internet of Things (IoT),
with its global explosion of
Internet-connected devices,
is providing ever-growing
sources of digital touch
points. Manufacturers can
use it to get the most from
available resources by
extracting data about the
performance of manufacturing
processes, logistics, and
supply chain systems.As the global IoT market
takes off, Gartner predicts
that 26 billion devices will
be connected by 2020.
Already, these connected
devices are generating a
massive volume of information
that manufacturers can use.According to management
consulting firm McKinsey &
Company, the manufacturing
sector generates more
data than any other sector
in the global economy.
Much of this information
is created by networked
industrial machines and
internet-connected supply
chain devices, and can
be used to inform decision-
making processes and
help streamline a multitude
of associated processes
and systems.Many large manufacturers
are starting to use data drawn
from connected industrial
devices to optimize factoryWritten by Glen Bernadino, Enterprise Business Development Executive, UXC Connect
INNOVATION
24 | VENTURE Innovation | June 2018