How the Industrial Internet of Things (IIoT) Can Optimise your Value Chain?

How the Industrial Internet of Things (IIoT) Can Optimise your Value Chain?

 

In this article we take a look at how incorporating advanced analytics, Artificial Intelligence (AI) functionality and inter-connectivity across disparate control systems can drive business value, minimise downtime and increase overall profit. 

 

What is the Industrial Internet of Things?

 

The Industrial Internet of Things, or IIoT for short, is the next step in the modernisation of industrial processes. Also known as Industry 4.0 and or the 4th Industrial revolution, the Industrial Internet of Things builds upon the mechanised foundations of previous industrial advances and delivers far greater operational insight and control over operational processes.(For more on Industry 4.0 see our other blog)

 

The Industrial Internet of Things is a step up from DCS (Distributed Control Systems) configurations, to an interconnected model of data driven advances. The Industrial Internet of Things can connect devices, machines, sensors and people in an easily accessible network of visualised data. Through a combination of cloud and edge computing, visualisation software and advanced analytics the Industrial Internet of Things (IIoT) connects technology with people and processes.

 

Benefits of Advanced Analytics for the Value Chain.

 

Accessing easily analysable data across a business's entire value chain can provide insight into operational inefficiencies that were previously undiagnosed. We can only work with that which we know. If black spots exist in the operational view then we cannot administer measures to improve overall business performance. A top down view delivers access to business levers that were previously inaccessible. For example, many industrial, smelting, oil and gas facilities have machines that produce gigabytes of data every day. Much of this data is not utilised to increase efficiencies within the operations. The oil and gas industry in particular is turning to advanced analytics, cloud computing and hybrid human-machine workplaces to increase efficiencies.

 

 “...Oil and gas companies are infusing talent from innovation hubs, labs, accelerators, and universities to accelerate progress by concurrently learning from the best and seeding their own innovation groups.” - Deloitte 2018 Tech Trends Oil and Gas Industry

 

Implementing value chain changes with the Industrial Internet of Things (IIoT)

 

Change can be a confronting proposition for many used to engaging with legacy equipment in outmoded operational models. As factory floor knowledge disappears many operators are unsure how to maintain high production quality in the face of shortfalls in skilled labour. By incorporating intelligent systems that self correct and report in real time, working in conjunction with your skilled operatives reduces the impact of a diminishing workforce. Cognitive computing is able to analyse vast amounts of incoming data and provide real time alerts to the factory floor reducing the possibility of work place injury, errors in production and equipment downtime.

 

Whilst this may sound complex, in many cases the integration of systems that provide comprehensive operational oversight can provide tangible benefits to your value chain.

Improve Operational Efficiency and Increase Profits.


Synergistics Australia has consistently improved operational efficiency and increased profits for many businesses through the implementation of operational systems that track, assess and improve operational decision making. In the following example Managing Director Michael Tsockallos details an example of how changes in the operational overview could have saved a large operation from making a simple and easily preventable error:

 

“We were commissioned to assess a software platform to determine fit for purpose in a large smelting operation. We determined that the software was 80% fit for purpose and all the key stakeholders had signed off on the software being rolled out bar one engineer. One of the core functions the software performed was tracking each load of ore to be transported by which vehicle to which particular crucible. One morning the engineer had signed off on the agreement, much to our surprise. The reason? A load of ore had been delivered to the wrong crucible, spoiling not only that batch, but the subsequent two batches as well. This error cost the company hundreds of thousands of dollars and countless man hours.” - Michael Tsockallos, Managing Director Synergistics Australia.

 

At Synergistics Australia we bring deep operational knowledge to bear on operational inefficiencies. Our best in class team are able to efficiently identify operational blind spots and recommend remedies that increase efficiency, maximise productivity and optimise your value chain.

 

For more information about improving your operational capacity and optimising your value chain please contact us here.

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