Internet of Things - Business Tool for MSME's

Manish Kothari Manufacturing in Machinery & Garments Skilling & Teaching – Vocational to Masters Social Entrepreneurship & Business Mentoring Circular Economy & Innovation, Enabling Technology, R&D

Making our Entrepreneurs “Future Ready”

Date: 14th Oct 2018

Workshop on Understanding iot An important business tool for msme’s …...….Business 4.0………..

How to Increase your Company Efficiency With Business Intelligence Market trend identification Improved operational efficiency Spotting business-related issues that need immediate attention Driving new revenues Bettering the decision-making process Optimizing business processes (internal) Source: https://www.synlogics.com/blog/business-intelligence-companies/

Main 7 Steps of Effective Decision-making for an Entrepreneur Establish the specific decision: • You cannot afford to generalize the process of decision making, you need clear on the decision that must be taken.

Gather the details: • One of the most critical stages in making decisions is gathering the relevant information.

Consider Alternatives: • Have a provision for the alternatives that would help achieve the same objective.

Weigh all factors: • Take time to weigh all the critical factors, be in line with the objectives and help solve some of the challenges faced

Pick the best option: • This is what makes entrepreneurs stand out, due to their ability to make critical decisions.

Implement it: • Do not stop at the point where the decision is made; take action to implement it.

Evaluation: • You should review all the decisions after a while so as to check if the desired results are being achieved.

Reference: https://medium.com/tools-for-entrepreneurs/tagged/entrepreneurship

What is the Role of IOT!

Everything is about DATA and all Decision Making or Business Intelligence Tools Need to start with Data

Every Decision requires an Action or Physical Activity to realize the goals

IOT – Internet of Things : Collects Data & Uses Decision Making Tools to provide Actionable Insights on the Physical Activity… in today’s modern technology world it is the strongest tool

Understand the Evolution of Industry or the Physical Entity Industry 4.0 Industry 3.0 Industry 2.0 Industry 1.0 Mechanical Production using water & steam power

Industry 4.0 perspective

Mass production based on division of labour using electricity

Use of Electronics & IT to automate production

Cyber-physical systems, automation and the Internet of Things (IoT) to create smart factory

Industry 4.0 – CYBER PHSYICAL ENGAGEMENT Industry 4.0 involves improved automation, machine-to-machine and human-to-machine communication, artificial intelligence, continued technological improvements and digitalisation in manufacturing.

Areas

Key Result Areas

Impact Ensuring stability & accuracy in production planning

Improvement in Productivity Operations

Improving asset utilisation & reducing downtime Higher labour efficiency Harmony in supply chain & better cost management

Managing raw material prices & availability

Reduction in Risk

Managing warranties & recalls effectively Minimising geographic risks Improve aftermarket revenue streams

Incremental Revenues Growth

Strengthening customer integration & channels

Ensuring additional sources of revenue in the core business Understanding customer demands better Developing new products & services

New Opportunities Industry 4.0 perspective

Expanding globally in newer markets Identifying strategic investment opportunities

Are we as a Management Clear why?

The key elements of enabling IOT as a Business Tool

Process automation – most challenging Machine automation – most common, needs process integration Machine learning – very critical for Smart Mfg 4.0 Systems integration – Bringing all Digital Devices to one platform

Upskilling Human Resources – key to success of Mfg 4.0 Copyright - Rhino Machines Pvt Ltd Approach to Smart Foundry

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4 Step Approach to Implementing Business Tools 4.0

Business 4.0 IOT Technology

Culture • Shop Floor Practices • Lean Manufacturing • Documenting Processes

• Digitization of Process, Production & Documentation • Connectable Devices & Machines

• Connecting Machines • Connecting People

Copyright - Rhino Machines Pvt Ltd

• Analytics • Actionable Insights • Automation of Insights to physical actions

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Steps to get on IOT Platform – Points to Ponder

Data Analytics

Data Interpretation Data Gateway to Cloud Data Mining The source • Determining the parameters influencing the process • Determining the data source - PLC, Sensors, Spreadsheet, Tables,…

• Determining the deployment of IOT for data acquisition • Determining the grain size, data formats for uploading data

• Defining the relationship of the data with the process • Defining the interrelationship of different data

• Algorithms to connect the data collected • Algorithms to find trends

Moving Forward to Enabling Business Tools 4.0 Proactive – Predictive Analysis Building the User Interface

Insights into Data • Determining types of insights to be developed • Determining how the data will be displayed in real time • Creating visualisation graphics for insights • Predictive insights - algorithms and development

• Determine Alerts & Updates for user • Create summary report formats • Create Decision making reports & alerts • Create dashboards - flexible and user dependent

• Create Machine Learning & AI Insights for improvements • Resource efficiency & utilisation analytics • Integrate with manufacturing analytics • Enable forecasting analytics for manufacturing & process

How are we doing it – Leveraging Expertise of Each to Grow Together Machinery Manufacturer or Process Provider

www.acefound.org

ACE Foundation – Creating the Culture Change

www.rhinomachines.net www.meemansa.in

IOT Enablers

IOT Enabled Businesses

www.ecolibriumenergy.com www.osisoft.com www.valuechain.co.in

Industry 4.0

Industry Experts onboarding as we progress

Operational Experts

Composite Solutions – Business Analytics

www.cspl.net.in

We are Continuously Leveraging the use of IOT as a strong tool for Business Growth

Thank You