With Hikar Industrial IoT Products and Services, your existing factory and machines can be upgraded to the cutting edge technology industrial 4.0 with the existing factory network, facilities and resources. We can transform old technology conventional dumb devices into the smart devices with ZERO additional investment from you.
Any Factory can be transformed to Smart Industrial 4.0 in ZERO additional investment with HIKAR Industrial IoT.
Upgrade to Industry 4.0 helps manufacturers with current challenges by becoming more flexible and making reacting to changes in the market easier. It increases the speed of innovation and is very consumer centred, leading to faster design processes.
40.8% of industrial companies say “better visibility of operations” is one of three critical elements to improve asset performance management.
One controversial position that we can substantiate is, “The most reliable plant is not always the most profitable plant.” There is ample evidence that many companies over-maintain equipment at a high cost for marginal, if any productivity gains. In many cases, manufacturers choose to take equipment out of service because a predictive maintenance algorithm says a failure is imminent, but in doing so miss the opportunity to fulfil a highly profitable order. Often a simple shift in operating can mitigate the likelihood of failure. That’s not to say a preventative or predictive strategy is appropriate for every asset. Run-to-failure might be the best and most cost-effective way to operate certain assets. A mature organization with a sophisticated approach to maintenance knows that a blend of tactics is likely the most productive way to achieve maximum return on their assets.
One controversial position that we can substantiate is, “The most reliable plant is not always the most profitable plant.”
Never Underestimate Operational Risk
Are you familiar with McKinsey’s philosophy on operational risk? That management consulting firm’s philosophy is that operational risk carries hidden costs that too many businesses ignore. In our experience, any asset failure that adversely impacts a company’s reputation (like an environmental disaster, safety failure or business disruption) has two costs: the direct cost, plus the impact on shareholder value. By not using reasonably available technology to protect shareholder value means the board fails in its obligations to corporate and social stakeholders. Recall for a moment the impact of the 2010 Deepwater Horizon incident on BP. That event is an extreme example of the impact of failing to properly address operational risk. While other examples might not be quite so dramatic or public, they consistently show that today’s complex systems require a comparably robust management approach that, fortunately, technology makes possible and practical.
