IoT Logistics Poised to Transform Supply Chain Management
Delivery and fulfillment companies are changing the way they do business in response to the digital revolution. The Internet of Things, along with cloud services, analytics, and mobile computing, is driving these changes. Here is a look a how IoT is impacting the supply chain.
New advances in asset tracking are causing a huge shakeup in supply chain management as they give firms the ability to make improved decisions and save money and time. Going far beyond the traditional barcode scanner, these new solutions provide data that is more usable and pertinent than ever before. According to estimates from Cisco and DHL, IoT technologies such as asset tracking solutions could make an impact of as much as $1.9 trillion on the logistics and supply chain sector. A recent Capgemini/GT Nexus survey revealed that 70 percent of manufacturing and retail firms are already in the process of undergoing a digital transformation in supply chain and logistics.
Warehouse and Inventory Management
Passive and active RFID tags can provide a wealth of information about the items they are attached to, changing the way in which logistics companies work. Specific items can be tracked throughout their entire delivery journey, while satellite trackers offer location data for items everywhere on the planet regardless of cellular coverage. In smaller spaces such as stores, meanwhile, beacons and Bluetooth tags can be used for monitoring customer traffic and delivering marketing messages to consumers.
Connected solutions for fleet management make use of tracking technology like GPS to collect real-time data on vehicle locations and operations. BI Intelligence estimates show that such solutions could reach 180 million commercial vehicles on the North American continent by the year 2020, which represents 90 percent of the overall market.