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With the Internet of Things (IoT) spreading across all verticals, including the home and the enterprise, key industries are leading investments in the revolutionary technologies that are changing how we live and work.
Although others are quickly catching up, manufacturing, transportation, and utilities top the list of industries investing heavily in the Internet of Things.
IoT will fundamentally change how business and manufacturing will be done worldwide. IoT adoption has already reached over 43 percent of enterprises worldwide and has been identified as the next wave of internet technologies, and is expected to create hundreds of thousands of well-paying professional jobs.
Over $6 trillion will be invested in the consumer and industrial IoT markets, with industrial IoT leading the growth, by 2020.
Among the industries, thus far, manufacturing made the largest IoT investments – or $178 billion . Transportation followed, at $78 billion, and utilities comes in third, at $69 billion.
Good news! These investments represent just the start of this journey.
That being said, here are the top five industries that are leading IoT investments and adoption as well as valuable tips for how your enterprise can benefit:
IoT is evolutionary and emerges out of a history of using networked automation systems in industries such as manufacturing and transportation. As networking technology improves and advances in processing technology and sensors, monitoring and optimizing the use of physical assets extends to all industries.
IoT’s manufacturing origins continue, as the largest investments in the technology remain in that space, Middleton said. These investments fall into two categories: Inward facing (those concerned with optimizing systems and saving costs), and outward facing (those that make improvements in customer usage).
In terms of internal investments, manufacturers are using IoT to optimize their processes, monitor equipment, and do preventative and predictive maintenance on that equipment. Manufacturing operations was the IoT use case that saw the largest investment in 2016 across all industries, at $102.5 billion, according to IDC.
In the outward-facing arena, those in this industry use IoT devices to examine how their products are used by customers by maintaining a networked link to those products, and sampling usage data and sensor measurements. This way, manufacturers can analyze results and see broad patterns in terms of how the product is used, which can inform the next generation of the product, or help diagnose problems early.
The transportation industry has invested heavily in IoT and represents the second-largest IoT use case across all industries. Freight monitoring drives much of the IoT spending in this sector, at $55.9 billion in 2016, according to IDC,
Increasing numbers of freight and public transportation vehicles are equipped with sensors that help schedule maintenance, optimize fuel consumption, monitor operating or driving behavior for insurance purposes, digital data recorders that are programmed to take video samples under conditions of heavy acceleration that might be indicative of a serious traffic accident. That video could then be used in an investigation.
In the utilities industry, investments in the Smart Grid for electricity and gas totaled $57.8 billion in 2016, according to IDC. The case for electricity meters has power and makes a straightforward case– you don’t have to pay someone to read the meter.”
With the oil and gas industry being spread across large areas with lots of equipments (lots of pipes and valves and pressure gauges) to monitor, IoT solutions can prevent loss of revenues, help with predictive maintenance as well as with providing additional safety oversight.
Healthcare, which include medical machines that share images with a patient’s other caregivers, monitoring and troubleshooting problems with equipment, and real-time location systems that can track equipment, dispensation of medicine, and even staff and patients, is one of the industries that is expected to see the fastest spending growth in IoT.
IoT’s use in the healthcare field is very broad and includes advances in implants, prosthetics, and wearables also take advantage of IoT, streaming data back to medical providers. Connecting pacemakers and other medical devices to the internet benefits patients by reducing errors and providing more data to doctors to improve diagnosis and quality of care.
Granted IoT puts these devices at risk for cyber attacks, security should be part of the design requirements of the system.
Consumer electronics and cars
With digital assistants, such as the Amazon Alexa and Google Home becoming prominent, home and office automation systems have risen significantly making consumer IoT purchases the fourth-largest market segment toward becoming the third-largest segment by 2020. In the past year we’ve seen the rise of
Although digital assistants have gained popularity recently, it will be awhile before most people invest in fully connected homes and offices as the inertia of needing to buy a new refrigerator or home security system that has these capabilities, unless the old one breaks.
With connected vehicles being also an IoT industry leader in the consumer space, Cisco’s IoT connectivity management platform wasted no time and already hosts 8,500 enterprise customers worldwide — including General Motors – that utilize the platform to manage connectivity of 43 million IoT devices.
For example, every General Motors car produced today has IoT capabilities that allow drivers to gain diagnostic information and connect to the internet, among other features, Bui said.
Smart buildings are also predicted to rank among the top industry segments for IoT adoption throughout the next few years.
With every industry now investing in IoT, it’s imperative to ensure that these devices have strong security systems built in to prevent attacks like denial-of-service attacks from IoT devices that have been hijacked.
Although the cost of building a product that connects to a network continues to fall, architecting a low-cost product, such as a smart light bulb, still requires paying attention to network security, because it would be possible for an attacker to enter a network through that one inexpensive IoT device.
For companies beginning their IoT journey, “we recommend that operations or engineer departments strive to work more closely with IT departments,” Middleton said. “It will enable a more cohesive plan in the use of technology across a given enterprise, as opposed to having islands of usage where people don’t communicate and leverage best practices.”
Forming a team within your organization that coordinates the selection of technologies, considers possible use cases, shares best practices, and provides security oversight. This group can start with pilot projects, and use lessons learned from those to develop more detailed return on investment calculations and justify scaling up to a full initiative.
The Internet of Things (IoT) is a major digital disruptor that drives performance and
productivity for those within the supply chain industry. Benefit fully from IoT investments within a secure, intelligent and connected supply chain operation, also means that businesses utilize an IoT platform that is built around Identity and Access Management (IAM).
The Internet of Things will help develop new capabilities to revolutionize supply chains. With the increased global and complex supply chains, organizations are obliged to
collaborate closely with customers, suppliers and partners to achieve realtime visibility across every part of the supply chain.
With the Internet of Things (IoT) being one of the biggest technology success stories of all time, the speed at which IoT-enabled devices have become a part of our daily lives has
been astonishing. As over 70.4 billion connected IoT devices are expected to be in use by 2025, IoT will generate as much as $12 trillion a year in the same period, which will represent 11 percent of the world’s economy. This value being generated within business, factories and logistics will feature prominently. Likewise, fifty percent of all IoT spending will come from the manufacturing, transportation and logistics and utilities industries.
Moreover, although business to business (B2B) applications will account for over 70 percent of all value generated by IoT, companies must identify key areas in which IoT can help generate real value and create an IoT-capable infrastructure to realize their full potential.
IoT is benefiting supply chain operations in these different ways
IoT’s ability to deliver makes it the top investment priority within the supply chain of many organizations, as seventy percent of executives are already expecting to see payback from their IoT investments.
Nearly fifty percent of transport and logistics companies have already implemented IoT as part of major business transformation initiatives and are currently using connected devices for notifications and realtime monitoring rather than for optimizing and transforming their supply chain operations.
Implementation of IoT in the supply chain is enabling companies to realize significant benefits.
Whereas pre-IoT deployment were done on proprietary networks and could only capture data relating to their
specific function(s), current IoT developments provision for devices with smart sensors to provide realtime monitoring and reporting on every aspect of the supply chain that include the location, temperature, humidity and time of arrival, as well as changing equipment settings and process workflows to optimize performance.
Moreover, granted most companies are currently using their IoT devices for the monitoring and alarm functionality of their previous sensor and tagging technologies, most supply chain executives are aware that the real power of IoT lies in logically connecting people, processes, data and things—then taking advantage of that intelligence to radically change business processes.
The eventual goal is to enable realtime and informed decision-making that allows organizations to move beyond efficiency and cost improvements toward implementing more effective business strategies around new product development, proactive inventory management and demand-driven production.
IoT’s three-stage process in the supply chain include
Data collection: Collecting data not only from IoT devices, but also from people, processes, and other systems and infrastructure
Data consolidation: Converging all data into extremely large data pools—often called data lakes—and ensuring access to structured and unstructured data held in disparate repositories internally and externally
Data conversion: Leveraging cloud platforms with advanced analytics capabilities to gain full intelligence and value from the data
loT entails much more than simply connected devices
Capturing data from connected devices and then analyzing and acting on that data are
key capabilities of IoT devices. IoT is intrinsically linked to analytics, artificial intelligence (AI), machine learning as well as other critical digital initiatives. In all, IoT is now a top investment priority for supply chain companies and should be for every organization.
The challenges that supply chain organizations face, as they evolve their IoT capabilities from that of simple reporting and alerting into those that will optimize their supply chain, include the amount of data – that are growing exponentially – they are required to handle as they also struggle to and only analyzed less than half of their IoT data.
Modern supply chains require close collaboration with customers and suppliers
Organizations have made significant strides in connecting and accessing information
from third-party devices, assets and people. Over 40 percent of companies that implement IoT are gathering data from third-party mobile assets, such as trucks, vehicles, as well as integrating directly into IoT supplier networks.
Essentially, IoT-enabled infrastructure must focus on secure and trusted connections for people, processes, systems and things. Such infrastructure should be a structure that enables all forms of connections that include machine-to-machine, machine-to-person and machine-to-application, without placing undue administrative or processing burden on the organization.
IoT is more effective when all elements of the supply chain are connected —a connection that requires a seamless and secure interaction of people, systems and things. The digital supply chain is fast becoming the “Intelligent and Connected supply chain,” thus representing the next stage in digital transformation. The digital ecosystem offers a holistic approach to bringing big data, IoT, analytics and AI together to achieve dramatic business transformation.
In effect, the organization is creating a “digital ecosystem,” of which IoT devices are but one component. The ecosystem is built around a single digital backbone that connects and integrates with any person, device or enterprise system across a highly complex environment, such as a global supply chain, thus providing the foundation on which to link internal enterprise systems and external trading partner communities.
The enterprise-wide IoT platform forms the basis for deploying and managing a digital ecosystem—a central platform that will allow organizations to quickly build and deploy new IoT applications, collaborate with suppliers and customers and optimize supply chain performance while mitigating compliance risks. According to IDC, by the end of 2020, 50 percent of new IoT applications will leverage an IoT platform that offers outcome focused functionality based on comprehensive analytic capabilities.
The ultimate challenge for organizations seeking to fully take advantage of an IoT platform lies in how to drive security across the entire digital ecosystem while also ensuring safe and appropriate access
Although loT security is improving, challenges remain as seventy-five percent of companies list security as their chief consideration when selecting connectivity for IoT projects.
Among IoT users, security is certainly their primary concern. Organizations therefore need an exacting means of protecting devices, data, systems and enterprises from cyberattacks and privacy breaches. Security is aimed at guaranteeing trusted interactions among all entities in the IoT network. It is predicted that by 2020, there will be 215 trillion stable connections with 63 million new ones every second.
Likewise, as IoT connections grow so will trusted interactions, which will become increasingly essential. Each connection must therefore be cautiously managed, while the IoT platform enables data flow into processes across the supply chain.
Reliable estimates suggest that many IoT devices have security vulnerabilities and that 81 percent of all cyberattacks were credentials-based. Guarding the perimeter is no longer enough: security revolves around how various entities gain access to the network.
Provide secure and seamless data exchange across organizations and systems
Enable the effective management of online and offline state of entities and sync data across networks and in the cloud
Enable the management of the lifecycle of entities as roles and authorizations evolve
Control entities’ use of protected resources
Administer access and manage entities’ access
Enable the Integration of disruptive disparate technologies (cloud and on-premises apps) as well as legacy systems and data repositories
Enable the management of global compliance and governance
Seamlessly enable the connection to internal enterprise systems and external trading partner communities Security is at once a major concern and a key enabler. Within the supply chain, loT is not a task that a single organization can achieve in isolation. Rather, loT must function alongside suppliers, logistics providers and other partners. The level of collaboration needed to optimize supply chain performance requires trusted access into the systems of trading partners.
Most companies view IT security as a key enabler of building trust when moving online.
IoT platforms that enable identity-centric approaches allows organizations the flexibility to manage the lifecycle of devices, systems and people from initial provisioning to final deletion. Such platforms deliver powerful capabilities to manage the relationships between entities, and the ability to audit and track every event associated with every entity delivers complete transparency across the digital ecosystem.
These IoT platforms enable vast amounts of structured and unstructured data from various sources to be rapidly ingested and aggregated in large data sets. Unified data model allows all data to be normalized across the entire ecosystem. The platform can then apply a series of services to the data to meet the needs of the business processes within your supply chain. Its integrated advanced messaging and orchestration services enable the flow of data among devices, systems and people, thus removing the need for separate machine-to-machine, machine-to-application and machine-to-people integrations.
IoT use cases that offer the potential for great value to supply chain operations
Supply chain use cases for IoT Pervasive Visibility include knowing an item’s location, condition and delivery time is of vital importance to all supply chain operations.
With previous generation of tags and sensors that could only provide some information on location and condition, their scope were quite limited. As the elements weren’t connected, it wasn’t possible to track items in realtime. More importantly, the data they created was isolated from other relevant data. For example, a barcode could provide information about the location of a pallet when it arrived at a warehouse, but this information couldn’t be correlated with the temperature of the item during transit. IoT provides improved end-to-end visibility of goods ”from floor to store,” thus enabling the continuous and pervasive flow of data from highly connected supply chain assets during every stage of the process. This visibility includes tracking and monitoring of multi-modal 3PL providers, optimization of warehouse operations and improvements in “last mile” delivery.
The key to Persistent Visibility lies in a new generation of cloud-based Geographical Positioning Systems (GPS) and Radio Frequency Identification (RFID) tags and sensors
These tags and sensors provide granular, realtime information of item identity, location and other tracking information. They also provide environmental information such as temperature, humidity and even the condition of the pallet.
With Pervasive Visibility, the supply chain professional has a complete picture of every item as it passes though the supply chain, allowing the organization to achieve unprecedented levels of control and transparency to ensure that the right product is delivered at the right time in the right condition and at the right cost. Pervasive visibility is also useful in the monitoring of perishable goods moving through a supply chain.
Through continuous monitoring, it is possible to measure the performance of any asset in the supply chain and effect change when required. Pervasive visibility delivers complete control, which means knowing what assets are currently doing and what they will do next.
This data facilitates analysis that identifies when assets are underperforming and how to better utilize assets to improve business performance. In this way, an organization can begin to increase the automation within business processes to eliminate manual intervention, improve quality and reduce costs.
The connected vehicle is one of the breakthrough use cases for IoT. Today, millions of car owners are benefiting from a series of in-car services, including predictive maintenance and emergency support, delivered from a central IoT platform. The connected vehicle has even greater application within the commercial world as the basis for improved fleet management. For example, a container in transit can be tracked by the meter or by the second. Not only can trucks continually report on the performance of the vehicle and the condition of the cargo, but they can also communicate with the driver to advise on optimal speeds and routes.
Combining IoT with other supply chain systems creates a “smart warehouse” that can boost responsiveness and efficiency. Using sensors, tags on pallets, video cameras and wearable devices, such as smart watches and glasses, staff can chart each item’s optimal time and path prior to its arrival. In addition, IoT can improve the performance and safety of autonomous vehicles—such as forklifts—as they travel around the warehouse.
Reduced supply chain risk With so many geographically dispersed organizations in the global supply chain, there is ample room for uncertainty, which breeds supply chain risk. Any number of factors can affect or delay order fulfilment. Although reduced supply chain risk has previously been difficult to predict and control, IoT can improve control over goods in transit. At a tactical level, IoT can provide constant information on road and weather conditions to the driver and head office to plot the optimum delivery route. This feature enables constant delivery status in realtime to the customer, thereby creating an enriched customer experience.
Strategically, IoT, when used in conjunction with AI and analytics, becomes extremely good at predicting and planning for adverse events (such as natural disasters) with the aim of reducing risk and increasing business continuity.
Proactive Replenishment and Improved Customer Experience
With inventory optimization being key to every company, reducing inventory levels while improving customer experience requires the ability to automate much of the replenishment process in order to continuously monitor stock levels and restock as required.
Likewise, avoiding out of stock situations that may lead to lost sales entail adding tags and sensors can be added to all items. Connecting the sensors to the Warehouse Management System can provide realtime inventory visibility. Like monitoring the stock levels, IoT platforms can indicate the condition of each item, such as the storage temperature or expiration date, to ensure the quality of the items in the supply chain.
Scanning pallets before they leave the warehouse, will ensure that the right items are shipped in the right order, during outbound delivery, and automatically update stock levels while also triggering the replenishment process when ever required.
The growing use of IoT in the retail and store environments allows an organization to capture in-depth information on customer preferences. Along with consumption monitoring analytics, shelf sensors provide immediate notification when retailers are running low on stock and can automatically trigger replenishment. Likewise, IoT data also enable quick and accurate prediction of future buying patterns. That way, companies can start building their inventory based on actual customer demand, therefore reducing the amount of stock held in the supply chain to ensure the correct levels of availability
Being able to predict when part of sub-system of a serviceable product is likely to fail continues to be a key investment area for the supply chain. Whether a given a part is within the production process, the warehousing environment or part of a connected fleet vehicle, IoT enables proactive monitoring and analysis that can boost the performance and lifespan of the part as well as ensuring the availability of the entire sub-system.
Predictive maintenance is a key use case in IoT
By attaching sensors to physical assets, they’re able to emit instant alerts to the supply chain professionals when it is operating outside acceptable levels. When applied to advanced analytics and machine learning, the IoT platform can determine whether the part needs to be replaced or repaired and then automatically trigger the correct process.
This conclusion is not only from the history and past performance of a particular asset, but also from a range of data sources covering similar asset types, sub-systems and operating conditions—information that can provide intelligence and enable a more informed decision.
For example, the flow rate sensor attached to a hydraulic pump on a train’s braking system may alert the IoT platform to pressure loss in the hydraulic pump. The machine learning and AI capabilities within the IoT platform can then decide whether to repair or replace the part. The IoT platform then automatically triggers the correct process (either to repair or replace a failing part) and initiates any supporting processes, such as parts ordering, work orders and documentation exchange needed to ensure that maintenance is completed as quickly and efficiently as possible.
Organizations are currently reaping competitive advantage by managing their supply chains as a strategic asset. Increasingly, companies are working with suppliers worldwide to increase supply chain efficiency and collaborate on ways to drive customer experience and create new products. Indeed, with operational efficiencies and revenue opportunities, the IoT is set to revolutionize the supply chain—offering the potential to radically improve the performance of its supply chain. However, like the supply chain itself, IoT-based solutions involve a complex ecosystem of devices, systems and people. Reaping the full benefit of any IoT investment, then, requires an enterprise IoT platform that can quickly and easily create new IoT applications that address the key use cases—such as Pervasive Visibility, Proactive Replenishment and Predictive Maintenance—for IoT in the supply chain.
Advanced Identity and Access Management must be one of the platform’s core components. Thus, it is crucial to implement an IoT platform that allows organizations to enable the secure and trusted interactions needed to achieve close collaboration with trading partners and optimization across the entire supply chain operations.
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1 cup Blue Label Diri Shela basmati rice
3/4 teaspoon coarse salt( if desired)
1 tablespoon Coconut oil
1tspn Freshly Squeezed Lemon Juice
1 large carrot, shredded
6 minced fresh garlic cloves
1 tablespoon minced, peeled fresh ginger
1 3/4 cups water
1. In a medium saucepan, heat olive oil over medium-low heat. Add onion and carrot; cook, stirring frequently, until onion is very tender, 15 to 20 minutes.
We Need More Women Leaders Now | Reject The Archaic Perception
2. Add garlic cloves and ginger; cook 2 minutes.
3. Add Blue Label Diri Shela basmati rice, stirring to coat. Add water and coarse salt(if desired); bring to a boil. Reduce to a simmer; cover, and cook until rice is tender, 17 to 20 minutes (add a little more water and coconut oil, if pan becomes dry)
As the problems we face today – from our local communities to the workplace, and the global stage – require diverse leaders who have a variety of skill sets, women leadership
will bring the additional skills needed, as well as a different perspective to drive effective solutions. Female leadership is revolutionizing the game by adding value to the way the world does business.
Having more women in the workplace can lead to significantly higher productivity and efficiency
Although women make up 50% of the workforce, have higher education levels than men, are often the primary breadwinners in their families, ensuring progress entail removing the well-known obstacles to womens’ leadership, that include slow career advancement, fewer raises and promotions, and even more obstacles for women of color.
Securing Advancement Will Require a Shift in Perception
Whereas men think that the workplace is equitable and gender-diversified, women view integration and gender diversification in the Workplace as lacking improvement in that realm. Women also see a workforce that lacks fairness and offers less support. Women’s view, in that respect, is more precise, granted the lingering impediments to women’s advancement.
Women must not only be better represented in leadership in companies, as only one in ten senior leaders is a woman, but they must also receive the support that they need in their day-to-day work as on the road to advancement. Although it’s been known that employees who receive more advice from managers are more likely to say they’ve been promoted in the last two years, women are less likely to receive advice from managers and senior leaders on how to advance. Likewise, employees who interact regularly with senior leaders are more likely to aspire to be top executives, women are less likely to.
Until we change the world to reach the 50/50 parity, where both genders value each contribution and shed the concept of living in a male-dominated culture, we will not unlock nor start benefiting from the full potential of women. Raising awareness of the true status of women in leadership, celebrating their accomplishments, recognizing that more women are needed in leadership, and working together will help women gain confidence and the skills they need to overcome barriers and reach their ultimate goals.
Organizing People can Drive Change in Healthcare Delivery
In Healthcare delivery, change requires those on the front lines to embrace new approaches to care and to work across department barriers. We can encourage others to come together to bring about change just as the campaign that Samuel Adams led toward United States’ independence from Great Britain. These methods, if applied throughout the world, can lead to a revolution in healthcare delivery. One-one techniques, personal narrative, creation of leadership teams, and the creation of effective strategies and tactics are necessary to bring about action and change. You can make a difference.