Emily Newton, Editor-in-Chief at Revolutionized
Chemical company leaders are increasingly interested in bringing Internet of Things (IoT) technology into their facilities. Doing that could achieve better visibility, improved profitability and other advantages. Here are some actionable strategies for making IoT investments worthwhile at chemical processing facilities over the short and long term.
Use the IoT to Plan for the Future
The IoT can unlock previously hidden insights. Smart sensors can collect current data and advanced analysis tools could highlight the effects of potential scenarios. Getting information about demand levels could show how well-equipped a chemical processor is for coping with future surges in customer needs.
IoT investments grow almost 14% per year, statistics show. One of the reasons for that continual interest is that executives know they cannot afford to be caught off-guard when adverse circumstances develop. Even the most advanced IoTsensors cannot predict the future with certainty. However, they can aid preparedness by making decision-makers aware of factors they may otherwise miss.
Look for Opportunities to Reduce Waste and Mistakes
The IoT can also help company leaders cut down on wasted materials or employee process mistakes. Succeeding with both of those aims is crucial since many chemicals have precise environmental requirements.
For instance, dimethyl sulfoxide (DMSO), has a relatively high boiling point and a low toxicity level. Moreover, because frozen DMSO requires thawing before being transferred, one recommendation is to move its containers into a warmer area several days beforehand. Using sensors to monitor the defrosting process can provide better visibility. DMSOtypically takes about 72 hours to thaw, but it can happen faster when people store the containers on pallets.
Using heaters is an option, but people must take care to avoid getting the drums too hot. Overheating can cause DMSO to break down. However, IoT sensors can give up-to-the-minute data to prevent that outcome. Implementing the IoT works best when people adopt proactive mindsets and use innovative technologies to investigate how to cut down on preventable losses related to temperature-related mishaps or other issues.
Investigate How the IoT Could Improve Customer Relationships
Increasing options for collecting and utilising chemical industry data allow companies to strengthen their relationships with current and potential customers by demonstrating enhanced reliability. For example, an emerging trend called neural manufacturing involves every supply chain point functioning as a data-collecting node. One chemical company embraced that approach and experienced more than $25 million in improved value by reducing delivery delays and multiple order changes.
The IoT could also improve customer trust once chemicals leave a facility. Some sellers give users real-time updates from when their orders leave a factory to when they arrive on a doorstep. Besides getting location data, these solutions keep tabs on aspects like temperature and pressure.
People interested in bringing the IoT to a chemical processing facility should consider all the potential ways that better tracking and data visibility could make customers want to do business with a company. What challenges have previously cropped up to cause issues? Answering that question could illuminate where and how the IoT would be most beneficial.
Choose Metrics to Track
It’s not realistic to think that a chemical processing plant can shift to using the IoT in a few weeks or even months. Instead, the ideal approach is to set some long-term goals and determine what constitutes incremental progress in reaching them.
Working toward gradual improvements prevents accidental misuse of financial resources, and it can stop people from feeling overwhelmed by too much newness all at once. Small but continual investment in the IoT can also help a chemical plant’s leaders recognize the return on investment (ROI) over time rather than allocating massive amounts of money toward the IoT before seeing whether that choice has the desired effects.
Is the goal to streamline processes, reduce equipment downtime, cut costs or achieve something else? After answering that broad question, it’s easier to assess how to apply the IoT to get the best results.
Consider Working With a Technology Partner
The chemical processing industry is adopting the IoT more now than in the past. However, that doesn’t mean the companies in the sector should expect positive results in every case. Kelly Ireland is the founder and CEO of CB Technologies. She said more than 90% of IoT projects don’t get beyond the proof-of-concept stage. That’s often because company leaders expect unfeasible results from the technology.
However, working with a company that has previous experience implementing the IoT at chemical plants can help. Ireland’s company aided Texmark Chemicals in developing a smart system that let workers achieve processes in 90% less time. The technological investments also brought improvements to maintenance and enhanced worker safety.
It can be daunting to pursue the IoT to gather chemical industry data and give a company better visibility. However, coming up with a practical strategy is often easier with the help of an experienced provider. That entity could provide case studies of other clients who have succeeded with the IoT, causing decision-makers to feel more confident about moving forward.
Treat the IoT Journey as a Process
Besides keeping these tips in mind, chemical processing leaders should be aware that they probably won’t see the expected advantages by investing lots of money into the IoT without a well-defined plan for using the technology.
It’s better to make manageable investments into the IoT at the start while simultaneously knowing precisely how to put the technology to the best use. Once those early efforts bear fruit, company executives can examine the associated data and decide how to move forward from there.
