IoT in Industrial Product OEM
Extend Equipment Lifetime with IoT
High operational reliability to improve factory utilization
For industrial Original Equipment Manufacturers (OEMs), delivering a smart connected IoT solution can bring substantial benefits including reduced device support and maintenance costs, enhanced customer engagement and satisfaction, a differentiated product, and potentially a new business model. But to create such products, the OEM needs to apply IoT to manufacturing too!
OEMs are using the Internet of Things to improve their operations and their products. New insights from connected equipment can underwrite quality, inform service and engineering schedules, offer insights into users’ behaviour and uncover new revenue streams.
IoT Use Cases for Industrial Product OEM
- Equipment monitoring to detect/predict failure events, eliminate down time and find root cause.
- Lubricant monitoring to reduce friction related wear
- Bluetooth enabled equipment for smartphone/tablet enabled field service access
- Monitoring for warranty/claims management
- Automated replenishment services for equipment consumables
IoT Business Objectives for Industrial Product OEM
- Meet or exceed product performance
- Extend equipment lifetime
- Develop better products
- Enhanced spare parts business
- Improve field maintenance operations (or minimize field support with remote issues resolution)
- Create new revenue streams with remote support and diagnostics or product as a service