How Much Can IIoT Save You? All You Need is 1%

Article Tags:
Industrial Internet of Things
Internet of Things
preventing downtime
What if I told you that there was a tool that could help your business save 1%. You might say, "1% is such a small amount, what difference would that make?". While it might seem like a marginal number, think about saving 1% on everything your business does. That's 1% on installation time and operational costs. 1% on maintenance labor. Even 1% on ordering and replacing parts. When you add it all up, you will start to see it’s not such a small amount after all. So what is this tool, and how does it work?
The concept of the Industrial Internet of Things (IIoT) is not new, it’s been around since the turn of the century. However, with the recent advancements in connectivity, IIoT can offer more value, and therefore more savings, than ever before. Saving 1% on everything is achieved by simplifying and optimizing the processes you implement in your everyday activities. For example, let’s say you operate a beverage conveying line. Without warning, a gear motor prematurely fails somewhere along the line. It may take you multiple hours to identify where the gear motor is, and what the make and model is. It might take you days to find a distributor with the product in stock who can deliver a replacement. Sound familiar?
Blog Content Image

With that same scenario in mind, imagine that the gear motor that failed was integrated with IIoT technology. This means that when it was installed on your conveying line it would have been registered into your asset management system, giving you simple and quick access to specs and product numbers, as well as a way too quickly get a quote and reorder. Without IIoT integration, this process took days. With IIoT, specifying and reordering could take minutes. Not to mention, IIoT connected devices have the capability to perform predictive maintenance, so you would have been notified to lubricate or perform maintenance on the gear motor before it failed in the first place.
Unplanned downtime is a serious issue, and if IIoT could help cut down or eliminate it completely, I think you would agree that it is worth the cost of admission. 1% might not seem like a lot, but when you add up the time and cost savings involved in searching, designing, selecting, procuring, installing, operating, maintaining and replacing components in your applications, it becomes apparent how much value can be added to your business. All you need is 1%.

For more information on Rexnord IIoT Solutions, visit our DiRXN platform page.

Mike Miclot

Mike Miclot is the Vice President of Marketing & Customer Experience, Process & Motion Control (PMC) at Rexnord. He leads global branding efforts, digital marketing, e-Business formation, and marketing communications execution in support of Rexnord’s PMC — Power Transmission platform. Mike joined Rexnord in July 2016 after spending more than seven years at Belden and 19 years with Rockwell Automation.  Mike has a Bachelor of Science in Electrical Engineering from the University of Toledo, and a Masters of Business Administration from Cleveland State University.