Finding new ways of operating and new revenue streams is essential for any OEM dealing with the manufacturing industry. Machines can last a long time and manufacturers don’t take kindly to the notion of planned obsolescence. With IoT, OEMs can improve the quality of their products and services, as well as open up new avenues for business that they’ve never had before. It’s a brave new world with Industry 4.0.
Having access to machine data is the best and smartest way for OEMs to improve their own manufacturing processes and machines. If they can build better machines, that are improved because the engineers have access to performance data, the OEM stands to benefit.
With remote machine monitoring, an OEM can collect data about the operations of any given unit and not only react faster to any impending issue, but even predict issues based on that data. That ability to engage in predictive maintenance from a distance is in fact an excellent unique selling proposition that OEMs can offer to their clients, as part of their service package.
OEMs will not only be able to improve their own designs but will be able to leverage the data that they receive from their customers to create different machines and designs, with less simulation and modelling required. Using the real data from existing infrastructure, the options for finding new designs or even new uses for machine designs will be unlimited, and could open up new markets and new lines for the OEM. This presents a huge opportunity for the OEM to ensure that they stay ahead of their competition.
In the end, Industrial IoT is all about data and knowledge. When it comes to staying ahead in very competitive industries, the only real leverage any company has is data. With it, they can find new ways to operate or add to their existing offerings, ensuring that they are satisfying not only their current customers, but the customer of the future as well.
Within this e-book, we outline some of the top ways that machine builders are leveraging IIoT technology to build new ways to operate or add to their existing offerings, ensuring that they are satisfying not only their current customers, but the customer of the future as well.