5:00 am breeze, blue uniforms, red tool boxes, and noise above 80 decibels, in year 2013, factory floors at the American manufacturing facilities accounted for 12.5% of the total gross domestic product. US manufacturing has come a long way, from cotton and Tabaco production in 1800 to modern day airplanes of the 20th century. Last two decades have seen unprecedented growth in automation in manufacturing facilities, however, internet of things (IoT) will be a new revolution to promote smart factory culture, moreover, as per the “Converging Technologies for Smart Environments and Integrated Systems, “chapter 3, IoT applications, smart or “future factories” will be a big a achiever of IoT, furthermore, per year in 2025, IoT application in the
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Value creation in the smart factory will be more business to business than business to consumer, for example, looking at an auto-parts manufacturers, to optimize operation and inventory, they will employ or partner with vendors or business solution providers, therefore, the value created will be in the form of more jobs for vendors and solution providers, furthermore, the cost of a product will go down because of optimization, nonetheless, major gains will be experienced by those vendors and solution providers rather than direct …show more content…
As the technology advances, added value to companies make their goods and services cheaper and in result attracting more and ore consumers.
Besides such economic gain, there will be some social hurdles. With IoT application in factories, workers would need to expand their learnability and ability to adopt changes. Social challenges like re-training or entirely new job function would prove to be a challenge. Nonetheless, the risk that IoT application will abolish humans from factories is not possible.
Environmental
Value creation in the smart factory will be more business to business than business to consumer, for example, looking at an auto-parts manufacturers, to optimize operation and inventory, they will employ or partner with vendors or business solution providers, therefore, the value created will be in the form of more jobs for vendors and solution providers, furthermore, the cost of a product will go down because of optimization, nonetheless, major gains will be experienced by those vendors and solution providers rather than direct …show more content…
As the technology advances, added value to companies make their goods and services cheaper and in result attracting more and ore consumers.
Besides such economic gain, there will be some social hurdles. With IoT application in factories, workers would need to expand their learnability and ability to adopt changes. Social challenges like re-training or entirely new job function would prove to be a challenge. Nonetheless, the risk that IoT application will abolish humans from factories is not possible.
Environmental