Why Asset-Heavy Manufacturers Must Make Better Use IoT Data

In manufacturing plants, a high-performing, reliable asset base is critical. Maintenance staff must keep machines running and operating at peak efficiency. They can achieve this by using the data available to repair machines and systems before they break down and to fine-tune performance while they are running. That’s where the Internet of Things (IoT) comes in.

Manufacturing is the industry that spent the most on IoT this year. IoT spending among manufacturers is largely focused on solutions that support manufacturing operations and production asset management. And for a good reason. IoT can deliver significant benefits by providing real-time status information about machines, parts, and equipment.

A recent study by the American Productivity & Quality Center (APQC) noted the importance of IoT. APQC is an independent organization that focuses on benchmarking, best practices, process, and performance improvement. It recently surveyed 626 global organizations about their manufacturing practices, focusing on digitalization and the adoption of emerging technologies.

It found that most manufacturers routinely use or are focused on using IoT for predictive asset maintenance and condition monitoring. IoT enables organizations to apply insights to optimize maintenance practices fully. Additionally, IoT-enabled solutions allow factories to embrace a maintenance model that anticipates and resolves potential equipment issues before they impact production. The potential return on investment from the optimization maintenance can be significant.

However, the APQC study noted one caveat. IoT systems don’t work unless there is a system and associated technology in place to do something with the vast amounts of data collected by the sensors.

Even if there is a solution in place, there can be problems. A Microsoft IoT Signals report released earlier this year found that 38% of surveyed respondents feel the complexity and technical challenges are a deal-breaker, and 47% believe there isn’t enough talent available to build or maintain an IoT deployment.

Unfortunately, such challenges often lead to the abandonment of technology. That same report noted that 30% of IoT projects never make it out of the proof-of-concept stage.

What can be done to make it easier to work with IoT data, increase the success rate of IoT projects, and make better use of IoT sensor data to reap the benefits of IoT on the plant floor?

An obvious place to start is to find an easy to use IoT enabled asset management solution. That’s where LLumin can help. LLumin’s READYAsset Computerized Maintenance Management Software (CMMS) lets manufacturers set rules around real-time machine or sensor data to predictively and automatically address out-of-spec conditions. The module natively integrates into and works with LLumin’s READYAsset software to manage maintenance operations and achieve higher operations output.

A LLumin solution can take advantage of IoT data to eliminate unplanned downtime by proactively measuring the condition of equipment and setting historical and condition-based rules for predictive and preventive maintenance.