Adopting internet of things for manufacturing firms business model development |
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| Institution: | 1. Dept. of ECE, Institute of Aeronautical Engineering, Hyderabad, India;2. CSE-AI&ML, Malla Reddy Engineering College for Women Autonomous, Hyderabad, India;3. Department of CSE, Vasavi College of Engineering, Ibrahimbag, Hyderabad, India;4. Dept. of Electronics and Communication, K.L.E Dr. M.S.Sheshgiri College of Engineering and Technology, Belagavi, India;5. CSE Department, CMR Technical Campus, Hyderabad, India;6. Department of civil engineering, Aarupadai Veedu institute of Technology (VMRF), Chennai, Tamil Nadu, India;1. School of Management, Universiti Sains Malaysia, 11800, Pulau Pinang, Malaysia;2. Graduate School of Business, Universiti Sains Malaysia, Penang, Malaysia;3. Graduate School of Business, Universiti Sains Malaysia, 11800, Pulau Pinang, Malaysia;4. School of Computer Sciences, Universiti Sains Malaysia, 11800, Pulau Pinang, Malaysia;1. ESSCA School of Management, Clermont Recherche Management (CleRMa), 1 rue Lakanal - BP 40348, 49003 Angers cedex 01, France;2. ESSCA School of Management, 1 rue Lakanal - BP 40348, 49003 Angers cedex 01, France;1. Department of Basic Sciences and Humanities, GMR Institute of Technology, Rajam, Vizianagaram (Dist), Andhra Pradesh, India;2. Department of Humanities and Social Sciences, IIT Kharagpur, Khargagpur, India;3. Department of Mathematics, Saveetha School of Engineering, Saveetha Institute of Medical and Technical Sciences (SIMATS), Thandalam, Chennai, Tamilnadu, India;4. Department of ECE, Centurion University of Technology and Management, R. Sitapur, Paralakemund, Odisha, India;5. School of Electronics Engineering, VIT-AP University, Amaravathi, Andhra Pradesh, India;6. Department of CSE, Gokaraju Rangaraju Institute of Engineering & Technology, Bachupally, Hyderabad, Telangana, India;1. Department of Business Administration, Pontifical Catholic University of Rio de Janeiro (PUC-Rio), Rio de Janeiro, RJ, Brazil;2. IME - Military Institute of Engineering, Rio de Janeiro, RJ, Brazil |
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| Abstract: | The Internet of Things (IoT) has sparked a revolution in the manufacturing sector, providing numerous advantages to companies that adopt it. Using IoT, factories can boost productivity, cut expenses, and develop a more sustainable business model. The rise of digital networking and real-time communication are compelling manufacturers to adopt cutting-edge technologies in order to compete in today's fast-paced, international marketplace. The Internet of Things (IoT) to facilitate the virtualization of manufacturing processes and the gathering of real-time data to guarantee seamless supply chain operations. There has been abductive qualitative research done. Case studies of the heavy-duty vehicle sector provided empirical data, while a review of the relevant literature provided the theoretical underpinnings. Information system issues and people and structure issues were cited as barriers to analytics adoption. In this study works on challenges and security of manufacturing. Finally, suitable themes for analysis have been derived using a thematic analysis. The results show that manufacturing firms can benefit from analytics solutions for production activities even if they are not highly automated or complicated. The Internet of Things (IoT) offers numerous opportunities for growth in the business models of manufacturing companies. Businesses can boost efficiency, cut expenses, and develop a more robust business model by implementing IoT. Successfully integrating IoT, however, calls for meticulous preparation and execution. |
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