Page 24 - MetalForming November 2017

Steel Processor Identifies the
There’s good news for hesitant metalformers seeking a quantifiable return on investment before committing to Industrial Internet of Things implementation.
ROI in IIoT
Four words are exuding both enthusiasm and unease through- out the metalforming commu- nity. The words? Industrial Internet of Things (IIoT), which is known for its potential to stamp out inefficiencies, eliminate bottlenecks and streamline operations. Hence, the enthusiasm. As for the angst, that stems from bottom- line uncertainty. Simply put: Manufac- turers want to know how and when the
Article supplied by Industrial Intelli- gence, Kenneshaw, GA; tel. 770/462- 2940, www.industrialintelligence.net.
efficiencies of IIoT will translate into revenue, and what the return on invest- ment (ROI) will look like.
Surprisingly, the potential return can be identified and quantified prior to any implementation. Furthermore, imple- mentation can be simplified with the help of a managed service provider, ded- icated to IIoT, and possessing the expert- ise for conducting in-plant evaluations that pinpoint an achievable ROI.
Defining IIoT
Many manufacturers lack under- standing of what IIoT is, and how it
22 MetalForming/November 2017
www.metalformingmagazine.com
IIoT’s net result can impact quality control, predictive maintenance, supply-chain traceability and efficiency, sustainable and green practices, and even customer service.