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IOT - Transforming the Logistics Industry
In today’s fast-paced economy, the revolutionization of technology is a vital component of the logistics industry. The Internet of Things (IOT) is a device that allows for collaboration with other devices via the internet to transfer data without the need for human-to-human interaction. IOT aids in the ability to connect all individuals involved in the shipment process to the end consumer. The implementation of IOT can offer full-spectrum visibility to supply chain operations that may need improvements. IOT also unites informational and operational technology to reduce operating costs perform predictive maintenance to reduce inconsistencies within the infrastructure. IOT will optimally unify siloed networks into one consolidated network for efficiency and transparency within the firm.
One way the supply chain industry uses IOT is the placement of Radio-Frequency Identification (RFID) and GPS tracking sensors in the transportation equipment and roadways to monitor traffic conditions as well as trace the precise locations of containers. Execution of sensors allows specialists to seamlessly communicate with each node in the supply chain process and, ultimately, the consumer.
These sensors can produce digital endpoints to create data for each organization. Firms will have the ability to easily predict accurate arrival time and spot possible delays within shipments.
According to Gartner, by 2025, “…the IOT will have a potential economic impact anywhere between $3.9 trillion to $11.1 trillion a year; business-to-business applications will likely capture nearly 70% of that value.”
IOT is steadily transforming the logistics industry to provide quick and accurate information, increased communication, and efficiency in the shipment process to ultimately add value and reduce costs.
Contributor: Kerra Sloan
References:
http://cloudtransformation.cio.com/article/reinventing-the-supply-chain-with-the-internet-of-things/
https://datafloq.com/read/how-iot-will-transform-logistics-industry/5230
About Allyn International
Allyn International is dedicated to providing high quality, customer centric services and solutions for the global marketplace. Allyn's core products include transportation management, logistics sourcing, freight forwarding, supply chain consulting, tax management and global trade compliance. Allyn clients range from small local businesses to Fortune 500 firms. Allyn conducts business in more than 20 languages and has extensive experience in both developed and emerging markets. Highly trained experts are positioned throughout North and South America, Europe and Asia. Allyn’s regional headquarters are strategically located in Fort Myers, Florida, U.S.A., Shanghai, P.R. China and Prague, Czech Republic. For more information, visit www.allynintl.com.