Method and system for managing an efficient production floor, via the internet of things

A system for deployment in a manufacturing location for monitoring assets used to manufacture a component, each asset comprising a corresponding state indicative of an exposure time left (ETL) of the asset or time until maintenance of the asset for use in the manufacturing of the component, the system comprising:

• a plurality of tags, each tag used to monitor at least one condition of a respective asset at the manufacturing location, each tag having a corresponding identifier;
• at least one tag reader deployed at the manufacturing location configured to automatically obtain from each tag the condition of the respective asset, and the identifier of the tag;
• a database configured to store and associate each identifier with a corresponding asset, to associate the obtained conditions with the corresponding assets, and to store the state of each asset;
• said database further configured to store a production plan comprising manufacturing conditions associated with said assets;
• at least one display device deployed at the manufacturing location and viewable by production personnel at said location;
• and
• a processing unit coupled to the database, the at least one tag reader and the at least one display device, the processing unit configured to:
• utilize the at least one tag reader to obtain a first identifier and corresponding first condition from at least a first tag from the plurality of tags;
• utilize the database to associate the obtained first identifier with a corresponding first asset having a corresponding first state;
• update the first state stored in the database for the ETL of the first asset or the time until maintenance of the first asset, based upon the first condition obtained from the first tag;
• utilize the updated first state to determine and display on the at least one display device information prioritizing which assets to use to manufacture the component or which assets to maintain;
• and
• determine whether said first condition is in accordance with said production plan.