Organizations are looking forward to transform complex supply chains into fully connected networks. Sensor data and Radio Frequency Identification (RFID) from such devices can deliver real-time asset tracking, monitoring, and alerts that help streamline tasks and minimize disruption.
The following are the 10 benefits of IoT in Supply chain
1) Increased visibility
Supply chain managers allow connecting vehicles, equipment and devices for real-time status updates on jobs. This can offer an end-to-end supply chain picture – from manufacturer to customer, via the warehouse. So instead of seeing a job status listed as ‘in transit’, managers are given the precise location of the vehicle. This allows them to make timely decisions to keep goods moving efficiently.
2) Better collaboration
It provide an overview of how supply chain impacts a business, which is especially important for more complex value chain , which too often are broken down into a series of data silos. so furnishing teams across the supply chain with insightful and timely data that allows them to collaborate to avoid potential supply chain issues or bottlenecks.
3) Maximizing assets
Supply chain managers and logistics teams can optimize their fleets, provide smarter route planning and also identify assets that are delayed. Such teams can also monitor the efficiency of assets, meaning operations can be fine-tuned so that delivery numbers can be increased.
4) Better customer service
Managers can access information via mobile apps, making delivery-time forecasting an exact science. Delivery Issues can be quickly identified, and customer expectations managed. Importantly, managers can make alternative delivery arrangements to ensure service level agreements are met.
5) Real-time tracking of sensitive goods
Accountability and transparency are vital areas of a supply chain, and real-time tracking allows for both. IoT devices such as GPS monitors can now track everything from a shipment’s location to its current temperature.
6) Forecasting accuracy
By automatically collecting data, IoT systems eliminate human error in data collection and so help improve demand forecasting. Using IoT supply chain managers can predict demand based both on historical data and real-time data
7) ESG compliance
Organizations are looking more closely at best-practice around health and safety and ESG issues, to ensure compliance not only with legislation but also with the ethical expectations of investors, customers and other stakeholders
8) Inventory Control
Inventory control is an important part of warehouse and supply chain management, and IoT offers significant benefits in this area. By leveraging advanced IoT sensors that automatically track and analyze inventory positions and stock levels, supply chain professionals can create an accurate and up-to-the-minute inventory tracking system.
9) Warehouse automation
The automation of supply chains is set to continue growing in importance, particularly in warehouses, many of which are beginning to resemble something. As businesses automate increasing amounts of warehouse tasks, they will need accurate and immediately available data to power their automated systems.
10) Paperwork management
Paperwork is a common employee pain point, particularly in last-mile logistics, where the responsibility often rests with truckers. By leveraging smart logistics solutions, businesses can automate their most cumbersome and time-consuming paperwork tasks
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