Digitalization In Manufacturing for Monitoring and Optimizing

It is no secret that downtime hinders productivity and consumes valuable resources. Manufacturers need operations to be as lean and efficient as possible. Machine monitoring and optimizing enables reliable updates that can help you plan and prioritize maintenance accordingly.

Monitoring data from machines and developing useful insights from them is key to making informed decisions about your business. Based on Tech-Clarity’s recent survey, Top Performers are 75% more likely to have the ability to act in near real-time; although, only about one-third report that ability.

Machine monitoring and optimization provide bottom-line impact. Its benefits translate into real business results. The vast majority of those surveyed, 86%, say that their company’s profitability has increased by monitoring and optimizing machines using the industrial IoT. Over one-third, 35%, say it has increased significantly. Larger companies were even more likely to report significant revenue growth; 44% of companies with revenues greater than $1 billion reported significant profitability increases.

It is evident that monitoring and optimizing machines is a needed step to digitalization in manufacturing. However, the real challenge is that the industry is still in the learning phase regarding these initiatives.