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26 februari 2016

cxo magazine

Door cxo magazine

The Internet of Things Era Is Here

Are You Ready?

Are You Ready?
According to a new study, U.S. manufacturing executives have big hopes for the Internet of Things (IoT) — but a limited understanding of the IoT, or how to apply it to their businesses.
That’s a huge problem for their companies and for the U.S. economy — because using the IoT wisely is a key strategic initiative for manufacturers around the globe.

“Roughly two-thirds of manufacturing executives think that the IoT will increase their profitability over the next five years,” says John R. Brandt, CEO of The MPI Group, which conducted the study. “Unfortunately, only one in 10 of these leaders have actually implemented an IoT strategy.”

This IoT gap, says Brandt, could limit growth opportunities for U.S. manufacturers over the next decade.

MPI’s Internet of Things Study evaluated the readiness of U.S. manufacturers to incorporate smart devices and embedded intelligence within their plants and into their companies' products. Key findings include both good news and bad:

Good news:

  • 76% of manufacturers will increase the use of smart devices or embedded intelligence in production processes within the next two years. Shipping, warehousing, and document management are the best opportunities.
  • 66% of manufacturers plan to increase their investments in IoT-enabled products within the next two years.

Bad news:

  • Roughly 50% of manufacturers will require significant information technology upgrades or network overhauls to use the IoT within their facilities.
  • 44% of manufacturers say that their biggest obstacle in leveraging the IoT is their company’s limited understanding of how the IoT can improve operations and products.

“The IoT offers unprecedented opportunities for manufacturers to boost productivity, customer satisfaction, and profitability,” says Brandt, “But many companies are already falling behind. There’s a digital divide in manufacturing between IoT haves and have-nots — and it’s growing larger every day.”

Click here to read the MPI Report : The Internet of Things Has Finally Arrived (Unfortunately, Most Manufacturers Aren’t Ready)