How IOT can Save Money?

How IOT can Save Money?

Cutting cost is one of the major goal for any production line. This blog gives a heads up on how can IOT save money for you.

Human race is running very fast to beat the time.  In this race, we often fix problems at surface level and did not go into root cause of the problem. Hence this results in repeated occurrence of the problem creating a bigger damage. But the reason for most of the quick fixes is we don’t have enough data to understand real problem.

If we set a target to reduce the power consumed in a manufacturing, our agenda would be to switch off all unwanted visibly running equipment without understanding who is the real culprit. The real saving will come when we really understand who is consuming the excess power than the prescribed rating.

Aristotle says, “The whole is greater than the sum of its parts.

IoT is the saviour which can help you collect a lot of information from various points of interest. And it will help you analyse it with a time perspective and take proactive decisions.  You can deploy the sensors in your production line to understand the flow of materials, machine efficiency and make decision on the maintenance schedules.  

With real time data, we will be able to make the best decision in manufacturing, shipping, health care , fitness , automotive, home etc.

By looking at close to 600 variables in 16 stations in the assembly line and looking at data over a period of time we have been able to bring down scrap by 67%—that’s massive in terms of material usage. If you put a cost to the material, you are saving close to 2.4 million euros annually.” , claims

Bosch

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