Up to 90 per cent of manufacturers in Australia have 20 or less employees, according to Dematec Automation’s CEO David Hart. He believes that small to medium business enterprises (SMEs) can gain a whole range of benefits from digitisation via the Industrial Internet of Things (IIoT) that they might not have thought of in the past.
Speaking at the Industrial Internet 4.0 Conference in Sydney, Hart said there were several avenues whereby a SME could invest in the Industrial Internet of Things (IIoT) to the benefit of the company.
“There will be the internal aspects that revolve around things like productivity, quality and compliance,” he said. “Then there are the opportunities to look at external benefits – an opportunity to get some leverage around that pre-production and post production elements of manufacturing. It can be things like design and R&D at pre-production stage and bundling your services at the post production. It could be ongoing services and support and things like that. We all know that pure production activity is being squeezed by global competition so there is less value to be derived from that aspect of manufacturing. However, technical enhancement of production systems can lead to potential new revenue models.”