IoT for the supply chain and transportation industries will enable organizations to work smarter, plan better, and foster intelligent decision making processes.
It brings deeper intelligence into supply and demand will benefit all levels of the supply chain including consumers, as their demands can be better met.
Gartner predicts that IoT will generate revenue exceeding $300B in 2020. Many companies today are aiming to integrate IoT into their supply chain, lauding the trend for bringing better logistics structure, more efficient data systems, and generating higher production rates.
Enhancing In-Transit Visibility
IoT plays an important role in the future of supply chain logistics. It provides more in-transit visibility to their products and up-to-date status of the parcel. The use of cloud-based GPS and RFID technologies, which provide data on the location, identity, and other tracking information, ensure more accurate delivery time and can allow for better communication between sellers, shippers, and consumers. In addition, in-transit sensors can provide predictive maintenance warning and let shippers know of any temperature fluctuations, providing enough information to create a proactive supply chain.
Enterprise Resource Planning (ERP)
Enterprise Resource Planning (ERP) depends on data to work well. As ERP and supply chain management have gone hand-in-hand for quite some time, the emergence of IoT will allow us to send current and actionable data that will make the process more comprehensive and easier.
IoT could make ERP flexible, intelligent, and give real-time information. The ERP system must be able to process, analyze, and display all this data in a comprehensive format, and in real time. This will maximize the data collected that could lead to companies offering new services to their customers.
The Internet of Things has opened up new opportunities, a world where things talk to things, and processes have two-way connectivity and it is continuously evolving throughout the supply chain. As more systems link to one another, profits will increase as expenses decline all while giving your customers a more satisfying experience.