Manufacturing Today - November/December 2017 - 47

Midwest

IOT READY

a lack of integration stands between manufacturing companies and
digital transformation benefits of iot
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The more a manufacturing operation is equipped to meet and
understand the Internet of Things (IoT), the more competitive it will be.
A new study, however, shows that most manufacturers are not equipped
in this way. IFS, a global enterprise applications company, surveyed 200
IoT decision makers at industrial companies, and only 16 percent of respondents consume IoT data in ERP software. That means 84 percent of
industrial companies face a disconnect.
"Study data suggest that the most common use case for IoT in
these industrial settings is condition-based maintenance. The
benefits go beyond operational improvements and maintenance
cost avoidance," says Ralph Rio, vice president of enterprise
software at ARC Advisory Group. "It increases uptime that provides additional capacity for increased revenue. It also avoids
unplanned downtime that interrupts production schedules
causing missed shipment dates and customer satisfaction issues.
When married to demand and scheduling systems in ERP, IoT
becomes a revenue-enhancement tool improving the top line."
The study posed questions about companies' degree of
IoT sophistication. It also explores how well manufacturers'
ERP, enterprise asset management (EAM) or field service management (FSM) software prepares them for digital transformation and to consume IoT data within enterprise software.
Respondents were divided into groups including IoT leaders
and IoT laggards, depending on how well their enterprise software prepared them to consume IoT data. The study also separated digital transformation leaders and digital transformation
laggards, depending on how well their enterprise software prepared them for digital transformation.
> The two leaders groups overlapped, with 88 percent of digital transformation leaders also qualifying as IoT leaders,
suggesting IoT is a technology that underpins the loose
concept of digital transformation.

> Digital transformation leaders made more complete use of
IoT data than digital transformation laggards; Leaders are
almost three times as likely to use IoT data for corporate
business intelligence or to monitor performance against
service level agreements.
> Digital transformation leaders were more likely than digital transformation laggards to be able to access IoT data in
applications used beyond the plant floor. They were more
than four times as likely to have access to IoT data in EAM
software, twice as likely than digital transformation laggards to be able to access IoT data in high-value asset performance management software, and almost twice as likely
to be able to be able to use IoT data in ERP.
> The data suggests a real need for more IoT-enabled enterprise applications designed to put data from networks of
connected devices into the context of the business.
"These study data show this technology is required to connect IoT with strategic data from around their organization,"
Steve Andrew, IFS vice president of marketing for North
America. "This in turn lets businesses use IoT not just for cost
avoidance strategies like condition-based maintenance, but
to add new or enhanced product or service lines, increase enterprise agility and realize the growth and revenue benefits of
digital transformation." mt
NOVEMBER/DECEMBER 2017 manufacturing-today.com

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Table of Contents for the Digital Edition of Manufacturing Today - November/December 2017

Table of Contents
Manufacturing Today - November/December 2017 - Cover1
Manufacturing Today - November/December 2017 - Cover2
Manufacturing Today - November/December 2017 - 1
Manufacturing Today - November/December 2017 - Table of Contents
Manufacturing Today - November/December 2017 - 3
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Manufacturing Today - November/December 2017 - Cover3
Manufacturing Today - November/December 2017 - Cover4
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