By 2020, more than 50% of major business processes will incorporate some form of the Internet of Things according to a report by Gartner — and one such business process includes the supply chain.
Internet of Things (IoT) is, according to them, the technology foundation of digital business that presents a myriad of opportunities for leading organizations to address their business issues. Forbes also mentions that it is;
“The concept of basically connecting any device with an on and off switch to the Internet (and/or to each other).”
While it may often be overlooked, the application of IoT in supply chain management has already begun making exceptional changes and developments throughout the international trade landscape, leading to various improvements towards efficiency and quality of the processes and of their results.
From sensors that can provide detailed visibility of items in transit to clod platforms that can be deployed to optimize fleet management and load dispatching, several IoT technologies are already being leveraged by logistics operators to ensure efficient operations, gain an edge on their competitors, and build and develop their brand skillfully. And with the hyper connectivity of the world through the internet, companies dealing with the supply chain are highly recommended to adapt to this growing change.
Here are the different supply chain management use cases that have been enabled by the IoT.
Author: Patrick Daly is the Founder and Managing Director of Alba Logistics and 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.