The Internet of Things is fast-becoming a solution that companies are adopting in a bid to optimise their operations and give an impetus to their business. It is a step above employment of technology, digital tools and electronics to help run a business.

SAP defines IoT as “The vast network of devices connected to the Internet, including smart phones and tablets and almost anything with a sensor on it – cars, machines in production plants, jet engines, oil drills, wearable devices, and more. These 'things' collect and exchange data.”

The business possibilities of the IoT are endless bringing a new clarity to how industries are operated with the quantum of data, some of which can be applied real-time, redefining the capabilities of companies and what they can offer with their products and offerings.

GlobalLinker member company ’Indo-MIM Pvt. Ltd.’ recently introduced the IoT in their factory that creates complex shaped metal parts using MIM technology through high precision moulds. As a result, they are now a ‘smart factory’, one of the first to achieve this distinction in India and have been recognised and lauded for this fact.

The company saw that with more sophistication in requirements from clients, there was a gap between planning and manufacturing and bridging this gap could yield dividends. So they developed a solution, Industry 4.0, for their systems. This takes information from their equipments and systems across the facility in real-time using a business intelligence tool developed in-house, that provides immediate insights that can be acted upon to improve outcomes.

Manoj Kabre, VP Marketing for the company, explained that, “With the development of the IoT system, the machine operation rate, inventory and shipping management, quality control, material input timing and information on employees working condition has become available in real-time. In addition to this, it is now possible to have a mutual cooperation across multiple divisions by sharing information.”

The company found that there is uniformity in the system across the company, with reduced errors and downtime. There have been continuous internal updates in the system to remove bugs, such that the expected outcomes can be achieved. It is important for the manufacturing industries in India, Mr. Kabre said, to align with such global standards to march ahead in terms of global competitiveness and preference.

IoT, once a technology of the future, is now firmly a part of our present. It is helping companies grow by increasing their capacity and making the most of their manpower resource.