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Increase Manufacturing Operational Performance with the Internet of Things

Increase Manufacturing Operational Performance with the Internet of Things

According to Michael Porter, Harvard Business School Professor, sustainable competitive advantage requires both the right strategic positioning and operational effectiveness. The Internet of Things provides companies with the opportunity to take advantage of both of these business success components to create and sustain market leader status in the next decade.

A thing, in the Internet of Things, can be a person with a heart monitor implant, a farm animal with a biochip transponder, an automobile that has built-in sensors to alert the driver when tire pressure is low — or any other natural or man-made object that can be assigned an IP address and provided with the ability to transfer data over a network. So far, the Internet of Things has been most closely associated with machine-to-machine (M2M) communication in manufacturing and power, oil and gas utilities. Products built with M2M communication capabilities are often referred to as being smart. (See: smart label, smart meter, smart grid sensor)
Kevin Ashton, cofounder and executive director of the Auto-ID Center at MIT, first mentioned the Internet of Things in a presentation he made to Procter & Gamble. Here’s how Ashton explains the potential of the Internet of Things:

“Today computers — and, therefore, the Internet — are almost wholly dependent on human beings for information. Nearly all of the roughly 50 petabytes (a petabyte is 1,024 terabytes) of data available on the Internet were first captured and created by human beings by typing, pressing a record button, taking a digital picture or scanning a bar code.

The problem is, people have limited time, attention and accuracy — all of which means they are not very good at capturing data about things in the real world. If we had computers that knew everything there was to know about things — using data they gathered without any help from us — we would be able to track and count everything and greatly reduce waste, loss and cost. We would know when things needed replacing, repairing or recalling and whether they were fresh or past their best.”

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