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How Total Cost of Ownership can be Minimized in IoT Network?
- Minimizing Installation Costs: It is very hard to implement a complete brand-new network in an industrial environment but most of the networks are joining new equipment with upgrades on existing SCADA systems, control networks and devices. Now administrator has to choose and deploy the right devices to meet the network's current and future requirement.
- Minimizing Configuration Cost: The most time-consuming and expensive task is configuring devices on a network so that they secure settings, redundancy, interoperability, and efficient performance. This can be easily compared by using less expensive devices which needs more effort spent on configuring devices later on in the project. As the number of devices on a network increases, so do the possibilities for savings. Here are some of aspects of configuration process with a strong effect on total cost of ownership.
- Minimizing Operational Cost: The most important way to minimize the operational costs is to design a network that minimizes the amount of manual work needed to keep the switches and network operational. In addition, ensuring devices are suitable for industrial environments help the network operate at peak efficiency and performance.
- Cost for Technical Support: Administrators have multiple options while purchasing switches, ranging from inexpensive devices with no ongoing support or firmware upgrades, to switches with ongoing technical support that will cost more than the switch. As switches are often used on networks for longer than 10 years, technical support that comes with a switch will significantly affect costs in the long-term.