A leading auto Component Manufacturing company wanted to implement industry 4.0 as a part of digital transformation initiative and use IoT solutions to make their manufacturing unit Smart.
After multiple visits of manufacturing units and rigorous requirement gathering session following challenges were addressed
- Data Abundance – As the manufacturing unit consists of multiple assets and diverse set of data working on different protocol, there was no uniformity in data collected .The biggest challenge was to implement single platform where data from any set of sensors or legacy assets like PLC, SCADA etc can be collected and analysed.
- Apart from this, Company cannot afford to bring massive cultural change or increase the CAPEX (Asset Substitution etc ). So the implementation of IoT solutions should be in adherence with existing legacy and PLC machines.
- Integration- CharIoT integrated all the data and assets on its protocol agnostic Single Universal IoT Platform. Decision Makers now have visibility of their assets and can access the information on a single dashboard.
- OEE(Operational equipment effectiveness)- CharIoT Solution enabled with Data Analytics and AI features allowed decision maker to measure important KPIs like Down time, Up time, Maintenance Time etc .This allowed them to measure the overall efficiency of their assets and predict the asset behaviour accordingly.
- Condition Based Monitoring– CharIoT implemented its trademark work force management app MITRA which gives notification to the field force only when the action is required. This led to huge cost saving from eliminating redundant periodic inspection. The CharIoT Solution automatically generated the alerts after seeing any anomalies in data derived from predictive or prescriptive analysis.
CharIoT solution allowed Decision maker to have access to real time data of all the asset, sensors etc. The downtime of the company was significantly decreased by 12 % in the span of 6 months.
Increased Cost to Product Ratio: As the downtime was decreased, same assets were able to produce more units per day. The Cost to Product ratio, which is very important for net profit, is increased.
Reduction in Maintenance Cost
As the periodic inspection was updated with action based inspection. The maintenance cost was reduced drastically. Also CharIoT predictive analysis tool allowed taking precaution if parameters of any machine are showing an alarming pattern.
Increase in Revenue
CharIoT Audit module allowed decision makers to measure the ROI and an increase in revenue by 8 % was measured.
This Leading Auto Component Company implemented CharIoT Solution in one of their manufacturing unit and now planning to scale it to 6 other units across India.