World-class servicing made accessible through digitalisation

October 4, 2021 2:49 pm

The era of Industry 4.0 is here, and businesses must onboard the digital journey to remain profitable.

What relevance does the Industrial Internet of Things (IIoT) have for modern businesses to overcome challenges induced by the pandemic? 

The Industrial Internet of Things (IIoT) is the future of the manufacturing segment. The entry into Industry 4.0 has long been in the pipeline and the pandemic has further accelerated change, forcing companies to make the digital switch quicker than expected. The COVID-19 pandemic and subsequent lockdowns have usurped normal manufacturing processes that have so long been rooted in well-defined man-machine proximity. Now, with the growing need to establish remote work-flow management, IIoT is finding wide acceptance. 

An enterprise connected by IIoT enjoys several benefits in ensuring business continuity despite restrictions, allowing more flexible workflow management that is suited to the ‘new normal’ and encouraging innovation for better productivity and output. Simultaneously, it enhances security, reduces downtime, and significantly cuts maintenance costs. The Vodafone 2020 IoT Spotlight Report also highlights that 84 percent of companies that had begun adopting IoT have fetched positive returns for their businesses during the pandemic. 

Manufacturing is rapidly moving towards Industry 4.0 and IIoT. Why must every manufacturer connect devices and workflow to stay competitive in the market? 

In today’s rapidly evolving world, businesses must constantly innovate and adapt to remain relevant. The move towards IIoT is another step in that pursuit. Manufacturing involves the use of a range of heavy machinery and precision tools. Consequently, productivity and profitability of an enterprise depend on how well equipment capacities are augmented to deliver continuous output. Here, IIoT can play a key role by integrating diverse industrial equipment and processes through automation and cloud computing. It aids real time monitoring, taking accurate measurements, and providing precise predictive analyses. It also simplifies data interpretation and eases solution arrival with timely alerts, detailed causal studies and expert guidance. 

At Mobil™ Lubricants, we have forefronted the journey towards a digitally connected manufacturing world with a range of virtual assistance services under the Mobil Serv^SM Lubricant Analysis (MSLA) program. This umbrella initiative combines several services, including a mobile-enabled oil analysis program, that together provide reports, analyses and solutions to guide manufacturing professionals in making the most effective business decisions. It is designed to enhance efficiency and simplify processes. For instance, Mobil  Serv^SM Real Time, a part of MSLA, is Mobil’s next generation oil condition monitoring tool that enables instant, remote access to detailed oil diagnostics. It provides real-time data streams on oil health, and alerts users as soon as issues are detected – allowing quick action that translates into significant cost savings. Similarly, the latest offering under MSLA – Mobil  Serv^SM IIoT Insights – is proving to be game-changing in integrating automation with manufacturing efficiency. This platform is bringing special benefits with Artificial Intelligence and Machine Learning (AI/ML), automated monitoring and precise analysis that directly benefit machine performance and manufacturing efficiency. MSLA with its array of programs aligns itself strongly with manufacturers’ journey towards IIoT and Industry 4.0. 

IIoT is a fast-growing sector. As of 2021, the size of the market is estimated at USD 76.7 billion and expected to reach USD 106.1 billion by 2026 at 6.7 percent CAGR (Source:www.marketsandmarkets.com). What are your views? 

The era of Industry 4.0 is here, and businesses must onboard the digital journey to remain profitable. Smart technologies and automation solutions will be the new order in a connected industry system marked by the emergence of cyber-physical interfaces, IIoT, AI/ML and cloud computing. A connected enterprise enhances decision-making, strengthens security, and improves productivity – along with providing the complementary benefits of overall collaboration and access to the right information at the right time. IIoT offers a chance to redefine sectors and accelerate economic growth. Now, to seize these opportunities, businesses and governments must innovate and escalate investments. As the Indian economy restarts progress towards becoming a preferred manufacturing destination, current practices must make way for large-scale IIoT adoption mechanisms. 

(Exxon Mobil Corporation has numerous affiliates, many with names that include ExxonMobil, Exxon, Esso and Mobil. For convenience and simplicity, those terms and references to “corporation”, “company”, “ExxonMobil”, “EM”, and other similar terms are used for convenience and may refer to one or more specific affiliates or affiliate groups.)