The Internet of Things (IoT) is the interconnection via the internet of computing devices embedded in everyday objects, enabling them to send and receive data. In a recent breakfast morning from the Made in Group, members discussed the risks and rewards they believe IoT brings. Keynote speaker Nigel Maris, Assemtron, tells members how IoT can help create new value streams by predicting issues before they occur in manufacturing.
Made in Group members can get involved in discussion groups to share insights with other manufacturers on current and relevant issues. Made in Group consists of Made in the Midlands and Made in Yorkshire, industry associations hosted on the Made Platform. Made is a private digital network for manufacturers and their industry influencers to share experiences.
In the latest Made in Group Virtual Breakfast Morning, multiple business individuals from a variety of sectors took part in a group discussion onThe Internet of Things. This included leaders from manufacturing firms based in the Midlands and Yorkshire.
Around 40 other members of the Made in Group also took part in roundtable discussions on topics: Optimising Skill Set in Business, Sustainable Manufacturing and Managing International Relationships. The discussions gave members the opportunity to share their challenges/successes, and to inspire and educate each other. All of the roundtables are condensed into short blog posts for other business leaders to consider and for Made members to reflect on. All of the blogs are published to the Made in Group websites - madeinthemidlands.com and madeinyorkshire.com.
In last week's discussion The IoT conversation was amongst the most popular topics with members of Made in Group. It was clear that industry leaders were knowledgeable about IoT, understanding the benefits of connecting devices to collect data and improve productivity and energy efficiency.
Many of the participants agreed that using IoT and Industry 4 can create new value streams, such as the ability to schedule maintenance leading to an array of benefits such as helping to eliminate supply chain issues. Sensors fitted to machines to collect data do not interfere with the day to day procedures. Data is collected over night when machines are no longer in use.
Whilst there are many benefits to IoT, there is a stigma that only large companies can afford and facilitate it. Those cautious of investing in IoT may also consider the security risk that comes with it. When all devices are connected, it may make things easier for a tech savvy hacker to interfere with manufacturing technology.
Overall, members agreed that the benefits outweigh the risks and in order for the UK to keep up with global trends and continue to be a world leader in manufacturing, investing in IoT is critical. In future monitoring trends may be a request from new and existing customers.
Join us for our next virtual breakfast morning on 22nd February, find out more and sign up here: https://madeinthemidlands.com/events/backing-britain-virtual-breakfast-morning-7