2020 is in just a few short months. It’s the year that Gartner predicted that more than 50% of major business processes will incorporate some form of the Internet of Things (IoT). Logistics companies are upon some of these major businesses. Though often disregarded, the application of IoT in supply chain management is already making extraordinary advances and improvements in the logistics landscape. From sensors providing visibility of products in transit to cloud platforms that optimize fleet management and load dispatching. Implementing IoT technology not only ensures efficient operations, but it also gives an edge on competitors and builds your brand. Below are a few of the many functions IoT provides for various logistics companies.
1. Tracking Capabilites
An essential IoT function in the supply chain is tracking and visibility. A Forrester study concluded that 77% of surveyed organizations consider locating objects, containers, and drivers as the top primary functions of supply chain IoT. With RFID and GPS sensors, operators can trace a product, truck, or container in real-time. These technologies also monitor vital details like time spent in transit and temperature control. This data allows operations managers to improve and get a firmer grip on quality control and on-time deliveries.
2. Fleet Management
To efficiently manage fleet operations, there are now GPS and other tracking technology capabilities that gather data in real-time. These IoT functions are essential for a fleet operations team, so they know the location of the trucks, weather conditions, traffic situations, driving patterns, and average speed. This real-time data helps logistics operators make more efficient routes, manage headcounts, save on fuel cost, and ultimately optimize their fleet.
3. The Ability to Predict Maintenance
Supply chain management is typically an asset-intensive business process. From warehouse equipment to delivery vehicles, these assets need to be continuously monitored to ensure that they are still that processes are running as efficiently as possible. Through the capabilities of smart sensors, operators can determine if a particular asset needs to be serviced. Thus resulting in reduced asset downtime and asset failure, which overall saves money.
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