CeMAT Insider

How the Internet of Things will shape your supply chain

Posted by CeMAT Team on 13-May-2016 12:15:39

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You don’t have to be an IT professional to understand the benefits new systems can bring to your business. 

The mobile revolution has sprung upon many businesses the need to adapt strategic thinking. Mobile, cloud, data, virtual reality, AI, and the concatenation of all things digital, thanks to the Internet of Things (IoT), are shaping both human behaviour and business technology. Because of these technological developments, eCommerce also continues to drive innovation. Intralogistics has vast opportunity to become more agile and flexible by ensuring logistics infrastructure and systems are properly integrated and updates are given in real-time.

Take a look at how the Internet of Things will improve efficiencies in intralogistics and supply chain management.

 

Optimal real-time analysis

Real-time data analysis has given business owners the opportunity to catch and solve problems as they occur, and although real-time analysis is not a new concept, it is a constantly evolving idea that will keep changing to better improve business operations.

Utilising new technology such as dashboards can allow you to quickly assess what’s happening on a day-to-day basis, and the example below shows important information such as “Pick Not Completed” and “Insufficient Stock” all located in one convenient place.

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IDC has estimated that the IoT market will reach $1.7 trillion by 2020, and for no small reason. Real-time analysis of the most important data sets in your business will give you a competitive edge over other companies, by allowing you to plan and respond to challenges and ad hoc situations.

With this type of data, companies are able to receive end-to-end visibility as well as insights to anticipate delays or bottlenecks, forecast outcomes, prescribe solutions and prevent costly disruptions.

 

The rise of purpose-built applications

With so much data streaming into your business from all the ‘things’ you’re monitoring, the next important step will be to harness that data correctly. Troves of data on how your supply chain is functioning will provide valuable insights into how you can adapt picking and packing, the most efficient shipping route according to traffic conditions, while also being able to track the location of every in-transit item down to its SKU.

Understanding what should happen, what will happen, and what happened in the case of any delays is essential for the logistics industry to continually evolve to changing consumer needs.

Taking a purpose-built analytics approach will give businesses the technological toolkit necessary to drive action across their supply chain, and further, the future of IoT software developments will improve the deliverability of purpose-built applications from months to weeks.

Digital capabilities being driven by IoT has eliminated complex and time-consuming manual approaches, allowing more time to revolutionise the customer experience by implementing efficiencies.

Taking an end-to-end digital modernisation approach, while also integrating your back end systems with an engaging front-end customer experience will be some of the key success drivers for businesses within the next five years.

We hope your supply chain is ready for the digital revolution, but we’ve also got you covered. Registeryour free pass for CeMAT AUSTRALIA to find out more about automating your supply chain for the digital age.

 

 

Topics: Supply Chain Management, Intralogistics