Industry 4.0 and Smart Factory capabilities are becoming pervasive, especially in large manufacturing companies. But, how can smaller but growing manufacturers also start realizing the benefits of IoT? In an article for Manufacturing Tomorrow, Dave Tanacea, Chief Domains Officer, and Martin Focazio, Vice President of Advisory Services, at Ness Digital Engineering share insights on the business benefits of Industrial IoT for growing manufacturing firms.
The article highlights the Industrial IoT business benefits, which are grouped into two main categories: Operational and Strategic. Operational benefits build efficiencies into the manufacturing process and strategic benefits build out new business models and revenue streams. Attaining these benefits requires the concurrent planning, execution and ongoing management of five key components. Read the article to learn more about the key components and capabilities that help small and mid-size manufacturing companies move towards developing an IoT strategy.