Finding Proof of Enterprise-Wide Cost Reduction with IoT
When getting started with IoT, finding the proof behind tangible benefits is critical. Here’s some proof from your peers in manufacturing and service that IoT is a step up from some of today’s antiquated processes—and that a strong digital transformation strategy helps reduce operational and service costs.
When only a select few have visibility into plant floor operations, manufacturers can struggle to maintain optimal overall equipment effectiveness (OEE) and have limited ability to measure and improve key performance indicators (KPIs). Observation-based monitoring also makes it difficult for manufacturers to optimize scheduling, quality, and productivity.
Real-Time Production Performance Monitoring
Real-time production performance monitoring helps manufacturers identify issues in real-time so they can be addressed before OEE is impacted. With better visibility into machine health and processes, you can ensure your operators are making speedier, better-informed decisions on the plant floor.
How Digital Transformation Reduces Operational Costs
Leading food packaging manufacturer Pactiv leverages IoT for improved visibility, transparency, and OEE. In doing so, Pactiv has realized an 11% decrease in downtime related to equipment failure.
Source: How Industrial IoT Increases Overall Equipment Efficiency webinar replay
decrease in downtime
Manual Service Processes
Service professionals are under pressure to reduce service costs—but manual processes block opportunities for potential savings.
IoT allows service professionals to resolve issues remotely, saving on truck roll costs, improving first-time-fix rates, and reducing overall time-for-service.
How Digital Transformation Reduces Service Costs
Leading printing press manufacturer Heidelberg uses remote services to:
• Cut the costs associated with dispatching technicians
• Improve first-time-fix rates, which avoids the costs of return truck rolls
Source: Heidelberg Pioneers the Smart, Connected Printing Press
Realize Cost Reduction Across the Enterprise
The proof is out there—and enterprise-wide cost reduction is within reach. Get started today.