How the Internet of Things is Changing the Future of the Supply Chain (Infographic)

How the Internet of Things is Changing the Future of the Supply Chain (Infographic)

The Internet of Things (IoT) is a system of interrelated computing devices, mechanical and digital machines, objects, or people provided with unique-identifiers and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction. According to a report from Gartner, he predicts that in 2020, more than 50% of significant businesses processes will incorporate some form of the Internet of Things (IoT).

Supply Chain Management has the credibility of competing globally in different industries identifying and developing the best suppliers for creating the secured operating system. From various sensors that can track detailed items in transit, optimising fleet management and load dispatching is one of IoT’s distinct properties in processing.

Furthermore, there are some distinct features that IoT contributes to different supply chain management:

Asset Tracking – One of the most critical elements that IoT applied to asset tracking. These IoT technologies allow supply chain professionals to monitor essential details like temperature control and time spent transit.

Fleet Management – While some companies are in the delivering business, bulk orders are prominent in their operations. IoT is essential for these types of companies because it is crucial for the logistics department to track transactions without sufficient tracking technologies to gather data in real-time on locations and activities of their delivery vehicles.

Inventory and Warehouse Management – The most crucial logistics system that a business has is with its inventory and warehouse management, especially if it is in different areas with a vast list of products that they are selling. IoT sensors can also provide more accurate inventories than inventory humans can deliver. It is wise to use Low Power Wide Area Networks (LPWANs), for companies to track specific items, equipment, and vehicles within their warehouse facilities.

Vendor Management – Through IoT technologies, logistics operations can pay closer attention to how their vendors are handling the shipments they are sending to them, and how they are handling their product once made.

Predictive Maintenance – Through smart sensors, logistics operators will be able to determine if an asset needs service ahead of time. Predictive maintenance results in reduced asset downtime and asset failure, thus saving cost, including maintenance cost.

IoT is becoming a standout system wherein businesses can benefit a lot especially in securing and having an outstanding tracking system through their production. To learn more about the different influence of IoT in transforming the logistics sector, check the infographic below by Alba Logistics today to have a whole new level for your business.

 


Patrick Daly

Founder and Managing Director of Alba Logistics, has  worked in the manufacturing and logistics sector for over 25 years. He  is also active on the Councils of the Chartered Institute of Logistics  and Transport in Ireland, and the Irish Exporters Association as well  as being chairman of the Latin American Trade Forum.
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