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Enhancing the Business Impact of the Industrial IoT With Digital Thread
What business impact does this innovation have on the product development and manufacturing lifecycle?
Four High-Impact Digital Thread Use Cases Enabled By the IIoT
In my opinion, the best use cases for digital thread are as follows: enhancing product design and quality; improving parts, accessories and consumables supply chains; improving field service operations and predictive services; and enabling new business models, including product-as-a-service.
Enhancing Product Design and Quality
The business impact of this could be the following: design optimized for product features for customer segments, continuous design improvement to improve device quality, lesser breakdowns in field devices, and reduced costs and improved efficiency of service operations.
Improving Parts, Accessories and Consumables Supply Chains
The business impact of this could be the following: improved fulfilment process efficiency, reduced inventory management costs of parts and accessories, reduced cost of operations due to parts planning being conducted based on failure analysis, and reduced revenue leakage to grey market due to distribution partners' shipment of devices to other countries.
Improving Field Service Operations and Predictive Services
The business impact of this could be the following: improved SLA compliance based on maintenance contracts, including traceability to component level SLAs with vendors; proactive service enablement of installed products; less unscheduled downtime; improved product reliability and uptime; just-in-time maintenance and breakdown service; improved firsttime fix rates (FTFR); and a reduction in field visits leveraging remote diagnostics and improving the utilization of service engineers.
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