This allows for continuous monitoring of an object's location and condition in the field, creating the possibility of new value-propositions around monitoring, support, and servicing for businesses.
For instance, instead of selling a piece of equipment with a maintenance contract and never hearing from the customer until it fails, IoT enables proactive servicing based on error codes, excessive vibration, temperature, or other factors that predict failure before it happens. This establishes an ongoing relationship with the customer, and they may be willing to pay more for avoiding unplanned downtime. Additionally, monitoring equipment usage remotely can lead to operational efficiencies by factoring it into servicing schedules and spares inventory forecasting.
Another common example is a company that supplies vending machines and sends someone to fill them up weekly. Without IoT, they have no idea whether the machine needs refilling until they arrive, and they don't know what inventory to take. However, remote monitoring of the machines allows them to know exactly what to take and when to visit.
There are numerous similar examples where IoT can provide real-time data and insights to deliver operational efficiencies or generate recurring revenue.
Many businesses will have systems or processes that can benefit from IoT, creating addition value and unlocking new opportunities .
How we can help
If you’re coming at this from a traditional manufacturing perspective, you may not be that familiar with the network and cloud technologies necessary to create a value-proposition around IoT, and that’s where we can help.
We have the technical expertise and vendor relationships to help you IoT-enable your current offer.
And we like a challenge, so if you have a use case in mind, we would be happy to work with you to find a solution.
