How Is The IoT Revolutionizing The Industry?

IoT Revolutionizing: Much has been said about the concept of  Industry 4.0  and the use of new enabling technologies from the administrative sectors to the factory floor in this digitization process.

One of the options that can be implemented in your company is the Internet of Things (IoT), which is the connection of objects to the Internet for data transmission and communication.

In this article, we have separated some numbers so that you know all the benefits of the Internet of Things in the Industry and see that making this acquisition can bring significant changes to your business. Check out!

An Overview Of Industry 4.0

According to a PwC report, around US$ 6 trillion will be invested worldwide in the Internet of Things technologies between 2015 and 2020.

In 2018, 48% of the large industries stated in a survey by the National Confederation of Industry (CNI) that they intended to allocate more resources to the acquisition of new technologies, and 73% of these organizations are already at least, in the initial phase of implementing new technologies. Management systems, Big Data solutions,  Artificial Intelligence, and, of course, IoT.

One of the main advantages of enabling technologies is the possibility of automating processes and increasing the company’s productivity. In addition, there are gains in agility and data volume for faster and more accurate decision-making, a broader and metric view of the company’s performance, and the possibility of knowing even more about its customers and buying and consumption habits.

Applications

Using Internet of Things solutions for the most varied activities within your industry is possible. We highlight the main news for you to know and see, which could make all the difference to your business. Keep reading!

Performance Measurement

IoT applications can be associated with your production line to identify how your machines are performing, evaluate if they are working as expected, using the number of supplies determined by the manufacturer, and even if any sector needs it. Other equipment to improve productivity.

Maintenance Follow-Up

Imagine the possibility of reducing the number of corrective maintenance and reducing costs with this process. This is possible with IoT solutions, which monitor the conditions of your machines in real-time and can provide relevant data for your inspection routine, allowing preventive and predictive maintenance to be more accurate.

Quality Control

With the support of cameras and RFID tags, it is possible to monitor the quality of the production process in your equipment and verify, at any time and from any place, if the machines are following the quality standard established by your team.

Relying on new technologies to revolutionize your business is becoming increasingly accessible. You need to find the best partners to help you on this digital transformation journey and implement complementary solutions such as the Internet of Things in the industry.

Working capital for companies is the difference between income and expense in a given period. It is a resource that keeps the business operations to fulfill all its obligations, such as salaries, taxes, fixed costs, and variable costs.

What Is The Importance Of Working Capital For Companies?

Imagine, for example, that employees’ salary is late or the company is pending tax. Most likely, the low working capital is the leading cause since the lack of planning and financial control can lead to this situation of imbalance.

Given this scenario, it is inferred that working capital directly impacts the motivation and productivity of the team and can generate problems with the tax authorities. Therefore, keeping it always more significant than all expenses is the certainty that the business will have the breadth to deal with future adversities.

In addition, when the company has enough working capital, it is possible, for example, to make investments in technology by selecting suppliers for ERP.

Also Read: IoT: Understand How It Has Revolutionized The Market