Industrial Automation Using Internet of Things

2022 ◽  
pp. 355-383
Author(s):  
Samyak Jain ◽  
K. Chandrasekaran
Keyword(s):  
Internet Of Things ◽  
Business Models ◽  
Low Cost ◽  
Intelligent Manufacturing ◽  
Industrial Automation ◽  
Industrial Systems ◽  
Industrial Iot ◽  
New Business ◽  
Real Time Computing ◽  
Efficiency And Productivity

This chapter presents a comprehensive view of Industrial Automation using internet of things (IIoT). Advanced Industries are ushering in a new age of physical production backed by the information-based economy. The term Industrie 4.0 refers to the 4th paradigm shift in production, in which intelligent manufacturing technology is interconnected with physical machines. IIoT is basically a convergence of industrial systems with advanced, near-real-time computing and analytics, powered by low cost and low power sensing devices leveraging global internet connectivity. The key benefits of Industrial IoT systems are a) improved operational efficiency and productivity b) reduced maintenance costs c) improved asset utilization, monitoring and maintenance d) development of new business models e) product innovation and f) enhanced safety. Key parameters that impact Industrial Automation are a) Security b) Data Integrity c) Interoperability d) Latency e) Scalability, Reliability, and Availability f) Fault tolerance and Safety, and g) Maintainability, Serviceability, and Programmability.

Industrial Automation Using Internet of Things

2020 ◽  
pp. 28-64 ◽  
Author(s):  
Samyak Jain ◽  
K. Chandrasekaran
Keyword(s):  
Internet Of Things ◽  
Business Models ◽  
Low Cost ◽  
Intelligent Manufacturing ◽  
Industrial Automation ◽  
Industrial Systems ◽  
Industrial Iot ◽  
New Business ◽  
Real Time Computing ◽  
Efficiency And Productivity

This chapter presents a comprehensive view of Industrial Automation using internet of things (IIoT). Advanced Industries are ushering in a new age of physical production backed by the information-based economy. The term Industrie 4.0 refers to the 4th paradigm shift in production, in which intelligent manufacturing technology is interconnected with physical machines. IIoT is basically a convergence of industrial systems with advanced, near-real-time computing and analytics, powered by low cost and low power sensing devices leveraging global internet connectivity. The key benefits of Industrial IoT systems are a) improved operational efficiency and productivity b) reduced maintenance costs c) improved asset utilization, monitoring and maintenance d) development of new business models e) product innovation and f) enhanced safety. Key parameters that impact Industrial Automation are a) Security b) Data Integrity c) Interoperability d) Latency e) Scalability, Reliability, and Availability f) Fault tolerance and Safety, and g) Maintainability, Serviceability, and Programmability.

The future of the Internet of Things: toward heterarchical ecosystems and service business models

2018 ◽  
Vol 33 (6) ◽  
pp. 749-767 ◽  
Author(s):  
Seppo Leminen ◽  
Mervi Rajahonka ◽  
Mika Westerlund ◽  
Robert Wendelin
Keyword(s):  
Internet Of Things ◽  
Business Model ◽  
Value Chain ◽  
Large Scale ◽  
Business Models ◽  
The Internet ◽  
Content Type ◽  
Industry Collaboration ◽  
New Business ◽  
The Internet Of Things

Purpose This study aims to understand their emergence and types of business models in the Internet of Things (IoT) ecosystems. Design/methodology/approach The paper builds upon a systematic literature review of IoT ecosystems and business models to construct a conceptual framework on IoT business models, and uses qualitative research methods to analyze seven industry cases. Findings The study identifies four types of IoT business models: value chain efficiency, industry collaboration, horizontal market and platform. Moreover, it discusses three evolutionary paths of new business model emergence: opening up the ecosystem for industry collaboration, replicating the solution in multiple services and return to closed ecosystem as technology matures. Research limitations/implications Identifying business models in rapidly evolving fields such as the IoT based on a small number of case studies may result in biased findings compared to large-scale surveys and globally distributed samples. However, it provides more thorough interpretations. Practical implications The study provides a framework for analyzing the types and emergence of IoT business models, and forwards the concept of “value design” as an ecosystem business model. Originality/value This paper identifies four archetypical IoT business models based on a novel framework that is independent of any specific industry, and argues that IoT business models follow an evolutionary path from closed to open, and reversely to closed ecosystems, and the value created in the networks of organizations and things will be shareable value rather than exchange value.

Industry 4.0 will arrive unevenly

2016 ◽  
Keyword(s):  
Industry 4.0 ◽  
Business Models ◽  
Capital Expenditure ◽  
Intelligent Manufacturing ◽  
Content Type ◽  
Production Distribution ◽  
New Business ◽  
Production Flexibility ◽  
Smart Factories ◽  
New Business Models

Subject Outlook for industry 4.0. Significance Dubbed variously 'Industry 4.0', 'intelligent manufacturing' or the 'internet of everything', cyber-physical systems that control the flow of materials, products and information are starting to transform industrial production and supply chains. They will eventually disrupt business models and challenge policymakers. Impacts Improved production flexibility and vertical integration with customers should facilitate bespoke manufacturing ('mass customisation'). Entire value chains will vertically integrate, embracing product design, procurement, production, distribution, sales and maintenance. Horizontal integration around smart factories will create new business models based on manufacturing as a service (MaaS). Pay-by-use and subscription-based MaaS could upend traditional models for financing capital expenditure on plant and equipment.

scholarly journals Business Models and Internet of Things

2019 ◽  
Vol 13 (1) ◽  
pp. 1192-1203
Author(s):  
Dragos Tohanean ◽  
Anca Vasilescu
Keyword(s):  
Internet Of Things ◽  
Value Chain ◽  
Business Models ◽  
New Technologies ◽  
Value Added ◽  
The Internet ◽  
Real Time Processing ◽  
New Business ◽  
The Internet Of Things ◽  
New Business Models

Abstract Information technology has massively transformed the world of business over the past fifty years - first individual functional areas within companies (“first wave”), later increasingly also cross-divisional value-added processes and trade (“second wave”). Those companies that recognized the tremendous economic potential of these upheavals and consistently adapted, profited enormously - many others, however, fell dramatically. At the same time, innovative startups emerged that successfully created and occupied new markets. With the Internet of Things (IoT), the third digital wave is currently rolling up. Their impact will be enormous - both for our everyday lives and for many industries that have so far been largely spared the disruptive power of digital transformation. Accordingly, the challenges facing most companies today are: understanding more complex competition, acquiring new digital technologies, making existing offerings smart, developing new services, networking production, efficiently analyzing vast amounts of data, and building viable organizations to push all this forward. The IoT is a driver for digitization. By analyzing machine data, the use of sensors and the intelligent real-time processing of huge amounts of data in the cloud, new business models are created. With the information gained, companies are able to improve their value chain. However, one of the most difficult issues in this context for many companies is how they can further develop their existing business model or establish successful new business models that will be based on new technologies and IoT. To investigate resulting impacts, we draw on the existing business models and deduct specifics for the Internet of Things. Building on this, in order to reach the aims of the paper the authors will use a descriptive research method and a case study in order to present how new business models work with the IoT.

scholarly journals New Model of Food Supply Chain Finance Based on the Internet of Things and Blockchain

2021 ◽  
Vol 2021 ◽  
pp. 1-8
Author(s):  
Yan Hong
Keyword(s):  
Supply Chain ◽  
Internet Of Things ◽  
Data Storage ◽  
Information Technologies ◽  
Business Models ◽  
Mobile Internet ◽  
Supply Chain Finance ◽  
New Business ◽  
System Data ◽  
Agricultural Supply

The grain supply chain not only broadens the financing channels for small and medium-sized enterprises in the supply chain and strengthens the cohesion of the supply chain but also opens up new business models and sources of profit for commercial banks. This article aims to study the use of advanced information technologies such as mobile Internet, Internet of Things (IoT) transmission, BT, and other advanced information technologies to design intelligent grain depot integrated systems based on the IoT technology, in accordance with the principles of practicality and advancement, to realize the informatization of the daily management of the grain depot and provide construction experience for the informatization construction of the food industry. This article proposes a detailed summary of several models of agricultural supply chain finance from the perspective of supply chain management and analyzes the applicable conditions and basic processes of these models. It also analyzes the structure of the agricultural supply chain through typical cases, introduces the operation of supply chain finance, and evaluates and analyzes its effectiveness and problems. The experimental results in this paper show that, compared with other storage methods, this solution has obvious advantages in data query efficiency and data storage cost. Without a central server, the entire distributed system will have a certain degree of efficiency, reliability, and cost-effectiveness. When the amount of grain data reaches 100,000, 1 million, and 10 million, the system data integrity check time is 0.0263 seconds, 0.3251 seconds, and 1.5032 seconds, respectively. The program seems very useful.

scholarly journals Industrial Automation Techniques based Internet of Things

2019 ◽  
Vol 8 (12S) ◽  
pp. 943-945
Keyword(s):  
Internet Of Things ◽  
Electronic Devices ◽  
Industrial Applications ◽  
Wireless Devices ◽  
Industrial Automation ◽  
Industrial Systems ◽  
Embedded Platform ◽  
Android Applications ◽  
Automation Techniques

Internet of Things (IoT) is the system of electronic devices implemented in the embedded platform that enables the program, sensors, and connection of networks for the collection and exchange of data and those led to the popularity of IoT. Here, we are building a network which monitors the industrial applications automatically and produce Alerts/Alarms and helps in making intelligent decisions with the help of IoT. Internet of things helps in developing effective industrial systems by making use of wireless devices,Android applications and sensors.

Management Considerations for B2B Online Exchanges

2010 ◽  
pp. 2484-2489
Author(s):  
Norm Archer
Keyword(s):  
Information Systems ◽  
Business Models ◽  
Low Cost ◽  
Electronic Data Interchange ◽  
Business Systems ◽  
Business Partners ◽  
Public Networks ◽  
Data Interchange ◽  
New Business ◽  
Online Exchanges

Information systems that link businesses for the purpose of inter-organizational transfer of business transaction information (inter-organizational information systems, or IOIS) have been in use since the 1970s (Lankford & Riggs, 1996). Early systems relied on private networks, using electronic data interchange (EDI) or United Nations EDIFACT standards for format and content of transaction messages. Due to their cost and complexity, the use of these systems was confined primarily to large companies, but low-cost Internet commercialization has led to much more widespread adoption of IOIS. Systems using the Internet and the World Wide Web are commonly referred to as B2B (business-to-business) systems, supporting B2B electronic commerce. Technological innovations have led to several forms of B2B Internet implementations, often in the form of online exchanges. These are virtual marketplaces where buyers and sellers exchange information about prices, products, and service offerings, and negotiate business transactions. In addition to substituting proprietary lines of communication, emerging technologies and public networks have also facilitated new business models and new forms of interaction and collaboration, in areas such as collaborative product engineering or joint offerings of complex, modularized products. During the years 1999-2001 a number of online exchanges were introduced, but many of these failed (Gallaugher & Ramanathan, 2002), due mainly to an inability to attract participating business partners. Those that have survived are often owned by companies or consortia that are also exchange customers or suppliers. The objective of this overview is to describe the evolution and the characteristics of B2B Internet implementations, and to discuss management considerations, the evaluation and adoption of B2B applications, and the technical infrastructure supporting these systems. We also indicate some of the open issues that remain as the technology and its adoption continues to evolve.

From Ubiquitous Computing to the Internet of Things

2017 ◽  
pp. 1-42 ◽  
Author(s):  
Bozidar Radenkovic ◽  
Petar Kocovic
Keyword(s):  
Internet Of Things ◽  
Business Models ◽  
The Internet ◽  
Washing Machine ◽  
Packaged Goods ◽  
New Business ◽  
2D Bar Code ◽  
The Right ◽  
Consumer Devices ◽  
The Internet Of Things

The Internet that most of us knows as the World Wide Web is expanding beyond PCs and mobile devices. Called the “Internet of things”, this movement will link consumer devices, enterprise assets, media and everyday items, such as packaged goods, to the Internet at an increasing rate. Why the push? New business models and new ways of interacting with customers, employees and suppliers are possible when physical items are linked to the Internet. In theory, the Internet of things will make it possible for a connected refrigerator to automatically order milk. However, history has shown that, even though a technology can be transformational, it takes a series of many small evolutions before the consumer and business world are ready for transformational models like this. We believe that, at first, the sweet spot for the Internet of things will be to use it in simple ways that extend or enhance an existing process. For example, a washing machine that has a 2D bar code can enable a smartphone user to view the instruction manual, or a service person to view the service history and parts list. In contrast, using the Internet of things technologies to make a washing machine that can auto-detect clothes by reading the RFID tags on the garments' labels, and consequently run at the right settings, is less likely to gain adoption.

The Future of Modern Jobs

2020 ◽  
pp. 124-149
Keyword(s):  
Artificial Intelligence ◽  
Internet Of Things ◽  
Industry 4.0 ◽  
Business Models ◽  
The Internet ◽  
Learning Journey ◽  
New Business ◽  
To Come ◽  
The Internet Of Things ◽  
New Business Models

Throughout this book, the authors have discussed the implications of the rise of artificial intelligence, Industry 4.0, the internet of things, and new business models that do not have any known precedents. While discussing the skills needed to survive in the modern economy, they have yet to address the issue of what will become of our jobs. Will our children dream of the same jobs we dreamed once before? Will they require the same studies we had to follow to reach our actual positions? Will our jobs still exist by the time we reach the pension, or will we need to reinvent everything that we know of? The authors do not have an answer to these questions; what they can do is only make educated guesses about what is about to come and be ready for it. In this last chapter, the authors see what experts think our future will look like and give their educated opinion in what to invest in our lifelong learning journey to be on top of this unprecedented disruption of the economy.

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