The Internet of Things (IoT) has gained considerable attention over the past decade. From starting out as a thought exercise to the beginning of its implementations on a wide scale, it has come a long way from its origins.
The impact of IoT impact has largely been felt in the manufacturing industry. A convergence of technologies has created a $4.5 trillion opportunity for economic value-add across the value chain - $1.1 trillion in the factory itself. The Factory of the Future is not just inevitable, it is already here.
A convergence of new-age technologies and traditional engineering is the key to drive the Factories of the Future. Traditional processes are being automated to positively improve productivity and quality. The key to achieving automation across the manufacturing value chain is Analytics and Enterprise Integration. In most factories, there are several functional silos. Connecting these silos through a common connectivity platform enables these various components to “interact” with each other. This plant connectivity platform forms the crux of the Factory of the Future vision.
Analytics is another important driver for improving operational parameters. Machine data and engineering analytics means you can predict and orchestrate maintenance and production, reducing unplanned downtime. Digital end-end engineering, with integrations to diverse other manufacturing systems such as MES, creates a digitally integrated value chain capable of manufacturing, executing, analyzing, and collaborating across the value chain.
We are excited to be a part of this transformational change as we move towards an Industry 4.0 world where productivity and efficiency will reach never-seen before levels.
We are delighted to have an opportunity to discuss these topics and more at LiveWorx 2017 where we will be speaking on Tech Mahindra’s vision of Factories of the Future.
Listen to Mr. Karthikeyan Natarajan, Global Head of Engineering, IoT and Enterprise Mobility, Tech Mahindra for his breakout session on “Factory of the Future” May 23rd 2017, 9:30 AM to 10:15 AM, at the Boston Convention & Exhibition Center, Boston.