Executive Overview
Defining and promulgating standards is an important component for advancing science and technology. Well-defined standards provide consistency and a solid basis for additional development. Virtually all stakeholders – including the technology end users – can participate in and benefit from this involvement in the process.

Opportunities for business process improvement often exceed the available resources to exploit. Established industry standards can help address this gap.

Executive Overview

For an organization to be competitive, it's no longer sufficient to just sell the best products, produce them as cheaply as possible, handle the supply chain expertly, and streamline business processes to optimize efficiency. To survive and thrive, a company must also be able to manage its data in real-time, align the information to business strategies, and exploit the business value of the data. This Insight provides one example of how a leading company implemented appropriate technologies to gain strategic business value.

Automation suppliers saw their revenues drop by over 6 percent during the third quarter of 2015. Depressed oil and commodity prices, along with the strong dollar, had a significant impact on growth for many sup-pliers. Based on the corresponding drop in order activity, many suppliers have trimmed their expectations for business in the quarters ahead. Discrete automation suppliers continued to benefit from stronger investment activity in the electronics and automotive industries in Asia and North America.

There is no single blueprint for a physical architecture for the Industrial Internet of Things (IIoT). One thing is clear, however: handling the massive amounts of data generated by connected devices and other smart assets is clearly a major challenge. An oil rig, for example, may create data at twice the rate it can transmit it to the cloud. Data handling challenges enterprises of all sizes that want to connect, select, store, and analyze data across the value chain.

One of the earliest applications for simulator-based training was to train airplane pilots. Today, simulators are used to train people across many professions, including as health care (e.g., for surgeons), aviation, military, aerospace, shipping, nuclear, oil & gas, chemical and many other industries in which workers have high levels of responsibility with the possibility that mistakes could result in harm to people, equipment, and/or the environment.

ARC has identified several machinery sectors that are leading the Industrial IoT (IIoT) charge to improve customer service while also monetizing investments. While many machine builders struggle to identify the appropriate technologies and business structure, companies that manufacture elevators, cranes, and similar equipment are beginning to reap measurable financial benefits from their IIoT-related investments and associated innovations.

It has been reported that General Electric Company shipped its pre-made bio-pharmaceutical factory to China, which was shipped in 62 containers. It was then assembled within 11 days, and the factory now will be very useful in helping Chinese companies boost the production of new medicines.

ARC Advisory Group recently attended the 44th Turbomachinery & 31st Pump Symposia in Houston. This year's event drew over 5,500 registered attendees from 48 countries. Approximately 350 companies exhibited all things related to compressors, turbines, pumps, sensors, condition monitoring, remote monitoring solutions, and more. The Symposia's theme, "Meeting the Demand of Changing and Challenging Markets," was particularly timely.

ARC Advisory Group recently conducted a web-based survey in conjunction with ControlGlobal.com to gain an external perspective on best practices and strategies for training operators and other workers to help ensure safe, efficient, profitable, and compliant plant operations.

This PowerPoint report summarizes the survey results and provides recommendations for ARC Advisory Service clients.

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