W. David Stephenson: Gobbling Up Energy Costs with the IIoT

9/02/2020 - 12:42

...."When you’re weighing the pros and cons of launching an IoT strategy, add in to the pros: survival of your company, your family, and the planet.  The possibilities may surprise you: what can be essential to preserve the planet is increasingly good for the bottom line.

While there are other IoT components that simultaneously boost profitability and cut your environmental impacts, the most compelling is that the IoT allows previously impossible-to-achieve precision in every aspect of your business. That’s because, as I’ve emphasized in previous columns, in the past we could never obtain—or, equally important, share—real-time data about how things actually operated in the field. That meant we had to guess how products worked and then adjust machinery after the fact. That meant we tolerated a lot of waste in energy and materials that harmed both the environment and the bottom line.

....No column about win-win IoT strategies to reduce environmental impacts and increase profitability could omit the most dramatic example of all, the Siemens “Factory of the Future” in Amberg, Germany. The IoT lets the company achieve an eye-popping 99.9985% quality rate, cutting its waste generation and boosting profitability. And the environmental benefits? Siemens used its MindSphere IoT platform to analyze its energy consumption,  helping the company “find inefficiencies and fix them. The result: within weeks the factory was saving thousands of euros” in energy costs.

Global warming isn’t a myth. It’s here, it’s a crisis, and — as Mr. Einstein liked to say, “you can’t solve a problem by the same thinking that created it.” The IoT, because of the unprecedented precision that it allows you to achieve, will help you boost profits while you do your part to save the planet.

What could be better?"

W. David Stephenson, principal of Stephenson Strategies (Millis, Massachusetts), is an IoT consultant and thought leader. His The Future Is Smart (HarperCollins Leadership), is one of the first books on IoT strategy.