In an interview, Andy Chatha, President, ARC Advisory Group had an exclusive talk with Chemical Today Magazine where he discussed about the right way to make IIOT a reality for Indian chemical industry.
By Debarati Das
IIOT in the global industry.
Today we are hearing a lot about IOT, Industrial IOT, Industry 4.0 and there is a lot of excitement about this topic because it offers a lot of opportunities allowing companies to improve their performance. One of the biggest challenges for any industry today is the downtime due to equipment failure. Industry 4.0 helps companies to predict failures and eliminate downtime.
IOT makes machines smarter. Just like a simple phone that has become so much smarter and has empowered us so much today, the next thing that we will see are smart machines everywhere. These smart machines will not just improve productivity, but also eliminate risks and hazards at plants, ensure better safety, and much more.
IIOT in Indian Chemical industry.
The chemical industry is very asset intensive. Equipment used in the plants are very expensive and thus, lowering downtime and improving reliability of these equipment is very important. Many companies are trying to do this by moving towards digitization. Implementing IIOT in the plants is going to take many years; it is a journey that companies have to undertake. Not just reducing downtime, there are so many other ways in which IIOT can be beneficial to a company. Also, the main thing is that Indian industry has to become more competitive to be in the game. Several Indian companies are competing with various global companies around the world and for that reason, they have to bring in newer solutions to the plant.
Read more: Collaborate to integrate IIOT
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