ARTICLES — September 09, 2020

Bringing Back Stability to Your Business with Industrial IoT

When it comes to maintaining business stability, difficult situations make any business leader face new measures. For example, they have to ensure customers still get a great experience from their products or services. As organizations look to open up gradually, they also need to provide a safe working environment for employees, improve liquidity, reduce costs in the short term, pay particular attention to security and increase efficiency with strategic solutions.

To navigate the current crisis and reach the better state that will emerge after the difficult situation abates, companies must embark on a journey with three improvement goals, each of which involves different aspects:

●     Resolve: liquidity.

●     Return and resilience: midterm cost and revenue stability

●     Reimagination and reform: operational flexibility and decision making.

Industrial Internet of Things (IIoT) can help companies as they proceed on this journey by increasing operational efficiencies through connectivity, automation, and analytics. Through a network of sensors and communications technologies, the data captured can be turned into actionable information to run an effective business procedure with more uptime and higher production quality. Here’s how IIoT’s benefits can be useful for the three horizons.

Resolve: Improving Liquidity

When a crisis affects both supply and demand, managing liquidity is crucial for industrial companies. IIoT-enabled inventory management enables industrial companies to reduce inventory and free up liquidity. For instance, IIoT sensors can track the flow of assets over long distances by using integrated communication in real-time. This transparency allows companies to manage asset flow accurately and prepare raw materials closer to the time they are needed.

Return and Resilience: Midterm Cost and Revenue Stability

Improving midterm cost and revenue stability can be done by creating a more flexible cost basis. IIoT-enabled asset optimization can identify the root causes related to the three drivers of overall equipment effectiveness: availability, performance, and quality. On the other hand, applying advanced analytics to the base management enables companies to determine the best actions for sales and analyze data on supply and demand for dynamic pricing optimization.

Reimagination and Reform: Operational Flexibility and Decision-Making

After a crisis, companies must be ready for changes to emerge stronger than they were before. Companies can start integrating and optimizing supply chain using IIoT, which enables real-time data about the integrated view of production programs, scheduling, inventories, and quality. Other than providing total visibility across supply chain, IIoT can also capture relevant and meaningful data and trends in real-time can improve both strategic and operational business decision-making.

With the implementation of the right strategies and tools, companies can make better decisions around overall efficiency and costs, maintain operations, and keep customers satisfied anytime. Telkomsel IoT Asset Performance Management enables business professionals to manage business goods and assets in real-time using an end-to-end Industrial IoT-enabled asset monitoring solution. With automatic reporting, alerting, and data insights gathering, your overall management process will be much easier during and after a crisis. Visit https://telkomseliot.com and see how Industrial IoT can help you decide your way of bringing back business stability.

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