Sikich 2018 Manufacturing Report: Internet of Things and Robotics On the Rise
Internet of Things (IoT) and robotics have become our everyday reality and manufacturing sector is no longer a stranger to them, either. In fact, according to Sikich 2018 Report, manufacturing companies will increase their spending by at least 20 percent on IoT through 2020. Similarly, the previously estimated $67 billion of spending on robotics has been adjusted to $87 billion by 2025.
Still, the lack of awareness of their technological capabilities prevents many manufacturing companies from moving forward in their investments. According to the report, many small and mid-sized companies don’t have a good understand and therefore don’t fully utilize their existing technologies missing in that way opportunities for advancement and growth.
One example is a utilization of Enterprise Resource Planning (ERP) systems. A number of modern ERP systems already come equipped with IoT and robotics ready technologies, so the initial cost for adoption of these is significantly lower.
According to Evert Bos, an ERP consultant at Sikich, “most ERP systems already have gateways to receive information from sensors installed in equipment.”
With ERPs in the heart of manufacturing operations, they become the natural first steps when adopting IoT and robotic technologies.