Companies and consumers want smart products — and they’re getting them.
Embedded intelligence is showing up in everything from watches to shoes to refrigerators to tires. The smart-home market alone will grow from nearly $47 billion in 2015 to more than $121 billion by 2022.
In industrial environments, too, embedded intelligence is rapidly becoming the norm.
Manufacturing executives get it: 63% say the application of smart devices/embedded intelligence to their products will increase profitability over the next five years. They know that when wearable devices, stamping presses, or household appliances can communicate and act on their own, the value of these products — and their profit margins — increase dramatically. That’s why 40% of manufacturers plan to embed smart devices/intelligence within their products.
Yet 30% of manufacturers still have no IoT product plans. Why?
Many executives mistakenly believe that their products have no need for embedded intelligence. In fact, the biggest challenge for manufacturers developing IoT-enabled products is simply identifying the opportunities/benefits of such products (44% of manufacturers). Yet even a landscape rock, equipped with sensors, could become a communications center for lighting systems, sprinklers, or weather-monitoring stations.
Which rock are your IoT innovations hiding under?
Manufacturers identify excellent or good opportunities for IoT-enabled products for:
Company’s finished products: 59% of manufacturers
Technologies for other manufacturers’ products: 29%
Devices for other manufacturers’ products: 29%
Software for other manufacturers’ products: 26%
Materials for other manufacturers’ products: 23%
Getting these smart products to market requires a strategy that includes:
Clear perspective of customer needs
Talent and skills to design and manufacture smart products
Supply chain able to deliver and support smart devices
Processes and technologies to embed devices into products and materials
Budget and resources.
When will your company — and your products — get smart?
One remarkable thing about the list is that it rarely changes. The order may change but the top cited standards typically don’t change. Top 10 Sited Safety and Health Violations: 501 - Fall Protection 1200 - Hazard Communication 451 - Scaffolding 134 - Respiratory Protection 147 - Lockout/Tagout 178 - Powered Industrial Trucks 1053 - Ladders 305 - Electrical, Wiring Methods 212 - Machine Guarding 303 - Electrical, General Requirements Three of the 10 sited standards are directed at the construction standard (1926) while other fall within the general industry (1910). It should be noted however that the general industry standard also has fall protection guidelines. Year after year, inspectors see the same on-the-job hazards, any one of which could result in a fatality or severe injury. More than 4,500 workers are killed on the job every year, and approximately 3 million are injured. By understanding these regulations you can improve your safety program and prevent injuries. Give me a call if you have any compliance doubts, or want to review OHSA regulations. Gwido Dlugopolsky at 216-391-7766 or firstname.lastname@example.org
Why does it take a NASCAR pit crew only 15 seconds to change four car tires when it takes people like you and me minutes? The answer is simple SMED. Single Minute Exchange of Dies, or SMED, is a process for reducing the time it takes to do equipment changeovers. Using the principles of SMED you should be able to perform any changeover in your facility in under 10 minutes! The SMED process is simple – convert as many changeover steps as possible to “external”, meaning they are done while your equipment is still RUNNING, while simplifying and streamlining the remaining steps. SMED is broken down into the following 3 Steps: Separate Convert Streamline We found this article to be very helping in explaining the SMED process in more detail: LEAN PRODUCTION - SMED A good first step to achieve this level of SMED efficiency would be to run a kaizen event at your facility to standardize (5S) your tools and supplies. Doing this alone will help you achieve 40% to 50% greater efficiency. Once the “low hanging fruit” is gone, you can still reduce setup times another 20% by practicing more advanced SMED principles.
The secret to closing any sale is to reduce uncertainty in the buyer and replace it with confidence in YOU, your PRODUCT/SERVICE, and your COMPANY. Step 1 – Confidence in YOU Someone buying from you wants to be able to fundamentally connect with you on a human level and feel confident that you’re an expert in what you’re selling If you’re selling paperclips, be an expert in paperclips If you’re selling design and engineering related services, be an expert in design and engineering related services Focus on addressing the problem, not the solution….MEANING you already know you have the solution, connect with the buyer by being an expert with the problem he/she is facing. Prove that you know the problem and all aspects of the problem like the back of your hand. Step 2- Confidence in the PRODUCT/SERVICE you are selling Someone buying from you needs to trust the product/service you are selling will solve their problem. It’s your responsibility to deliver a solution and the benefits associated with it. Basically you need to “Hit a Homerun” communicating this message. Tip – Use Success Stories: Share with the potential buyer examples of your product/service solving problems and delivering value for