Smart Manufacturing, Fourth Industrial Revolution or Industry 4.0 – dear child has many names. Based on the Internet of Things (IoT) and an understanding of the rich data residing at the network’s edge, Industrial IoT (IIoT) is currently changing the competitive landscape for manufacturers. Here are five tangible examples of IIoT engagements we are working on with clients.
The industrial IIoT connects people and the physical world of places and machines with the digital world of software, cloud platforms, automation, augmented reality, artificial intelligence and data. By doing so, manufacturers can better manage production, address customization requirements and generate customer insights.
This is a snapshot of some exiting projects that Cognizant is involved in across the globe:
- A leading manufacturer of packaging equipment now remotely monitors thousands of its machines at customer locations, which has prevented service bottlenecks and increased its service parts revenue by 12%. With a new business model — leasing and equipment sharing options — the company now delivers a more personalized service to customers.
- Relying on a comprehensive implementation of sensors, a farm equipment manufacturer now can visualize all aspects of its production assembly line, predict start-to-finish time of orders and address problems in real time, thereby accelerating production of new products by nearly 50% per machine.
- A global retail conglomerate retrofitted and IoT-enabled its refrigeration assets to remotely monitor equipment usage, predict component failure and reduce service call times. This resulted in a 10% reduction in product waste, and cut response times from five hours to 20 minutes.
- A construction equipment manufacturer has improved its ability to scale telemetry data in the field from 15 GB to 6,000 TB per day using an enterprise IoT platform. This has greatly improved visibility into the performance of its two million connected assets and enhanced performance and productivity.
- An aftermarket transportation services provider has been using assets, devices and APIs to apply real-time analytics to improve driver experience and fuel economy, reduce fleet liabilities and lower operational expenses by an estimated 10%.