IoT and the Supply Chain: What You Need to Know

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The Internet of Things, or the IoT, is drastically transforming the way in which we as human beings interact.

What exactly is it? It’s a system of computing devices across the globe that nowadays are linked to the internet, which makes it easy for them to share and collect data.

The IoT will impact just about every industry across the globe. Supply chain management is one area, though, that hasn’t gotten quite as much attention as self-driving vehicles and drones have.

So, how exactly will the IoT optimize supply chains?

Here’s a rundown on the IoT and the supply chain in 2018.

IoT and the Supply Chain: The Tracking of Assets

Managing supply chain goods has traditionally involved bar codes and tracking numbers. But the IoT is quickly changing this.

Global positioning system and radio-frequency identification sensors can easily track products. In fact, a manufacturer can utilize such sensors to obtain granular data such as an item’s storage temperature.

Other data you can get from these sensors include how long items spend in cargo or how long they sit on store shelves.

All of these pieces of information can help your company to boost your product forecasting, quality control, and on-time delivery capabilities.

Inventory and Forecasting

Let’s take a deeper dive into the IoT and forecasting.

An IoT sensor can offer a more precise inventory than a human being can by himself or herself.

For example, companies can use WiFi robots for the purpose of scanning their products’ quick response codes to triage and track their orders.

With a single button click, you can keep excellent track of your inventory (this includes the supplies available in stock). As a result, you won’t have to worry about missing a deadline ever again.

Plus, the data you collect may prove helpful for finding trends with the goal of making your manufacturing schedules more efficient.

Fleets That Are Connected

With a growing supply chain, it is critical that you make sure that all of your carriers stay connected.

These carriers may range from shipping containers to vans and the delivery trucks of your suppliers.

Why is this so important? Because the data you can gather from having connected fleets is like pure gold.

Just as municipalities are utilizing such data to reach emergency scenes or address traffic issues more quickly, you can use your data to get higher-quality products to your customers faster.

Vendor Relationships

Another benefit of tapping into the IoT is that the data you gather can help you to easily pinpoint subpar relationships with vendors.

Research shows that the majority of your service’s or product’s value comes from your suppliers. This means you need to be more cognizant of the way in which your vendors handle the supplies they send to you. You also need to know how they handle your products after they have been made.

The better your goods are, the stronger your customer relationships will be. And this great for retaining your customers long term.

How We Can Help

We take pride in our ability to help companies to better track their shipments and optimize their supply chains worldwide.

Contact us to find out more about what you can expect from IoT and the supply chain this year and beyond.

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