How IoT is Changing Supply Chain Management?
Internet of Things (IoT) has completely changed the landscape of the business around the world, especially after the recession period. The Companies are eliminating the traditional business concept by relentlessly seeking up the IoT for their logistic businesses. The main purpose for this is to have greater visibility, transparency, increasing efficiencies and to eliminate the things that can impact in their Supply Chain Management.
The introduction of IoT tracker has been a huge relief for the Logistic companies as the tracking of shipment has been the most critical services in the supply chain management. With the help of IoT tracker, the customers are able to get more insights about where exactly their packages are and also with respect to that it also tells you, before reaching a destination, the atmospheric conditions that the shipment has gone through.
Recently a new concept was introduced within the IoT supply chain management. The strategic partnership of Here Technologies and Sigfox has created a novel opportunity within the IoT applications in creating and deploying a global location service. Both the companies are planning to integrate the global coverage Wi-Fi hotspot of Here Technologies with wireless global network and geolocation engine by Sigfox, who built wireless networks to connect low-power objects, for companies and customers so that they are able to locate their packages or goods even if it is in within the warehouses or any other building and also outdoors. It also creates an opportunity for the companies that are not able to afford the geo-location services. Most of the times the customers and companies do complaint that their packages being damaged, or delayed delivery or misplace of packages. This has been improved with the concept of Cognitive IoT that helps to track inventory, reduce the chances of lost of damage goods, and reduce supply and demand differences.