What Is the Impact of IoT on Supply Chain Management?

Abhinav Anand | July 16, 2022 | 319 views | Read Time : 02:12 min

IoT on Supply Chain
Every major industry, including retail, transportation, banking, healthcare, and energy, has significantly benefited from the Internet of Things. Processes like supply chains are where the Internet of Things best demonstrates its promise. Applications for management, forecasting, and oversight aid fleet managers in increasing distribution's operational effectiveness and decision-making openness.

Some of the primary goals for IoT deployment in supply chain management include tracking and monitoring. For example, warehouse and fleet managers can use technology to keep an eye on their stock and freight.


Reasons to Use IoT in Supply Chain Management


Real-time Location-tracking

Thanks to the Internet of Things, managers have access to a consistent stream of real-time data on the product's location and the environment surrounding transportation. You may keep track of the delivery of both finished items and raw materials, and you will be informed if the product is transported in the wrong direction.


Monitoring of Storage Conditions

Environmental sensors allow management to monitor cargo conditions and take immediate action when something changes. One of the most popular IoT supply chain systems, for example, collects data on pressure, humidity, the temperature inside vehicles, and other factors that could harm the goods and then automatically adjusts the environment.


Enhance Your Emergency Planning

Supply chain managers can design routes with the use of IoT and data analytics, taking into account traffic, weather, potential accidents, and other delay-causing events that may occur along the way. The Internet of Things collects all the data required to create adaptable backup plans and identify the source of any current delays. Also, supply chain managers can get alerts from the system in real time, which speeds up reducing risks.


Forecast Goods Arrival and Movement

IoT devices and data analytics systems are used by managers to enhance the decision-making process and boost the accuracy of delivery estimates. Real-time tracking lets businesses keep track of products as they are shipped, predict when they will arrive, and plan for and reduce the risk of delays.


Conclusion

There are many different IoT applications for supply chain management. For example, it improves communication between parties, makes it easier to track and monitor commodities, and makes planning more precise.

As long as you have a clear goal for what you need the technology to achieve for you, an IoT-based platform is an excellent investment for both small and large organizations. It's also essential to bring on a talented team for the design and development phase.

Spotlight

TinyCircuits

TinyCircuits is an Open Source Hardware company specializing in designing and manufacturing very small (Tiny) electronics. Based out of Akron, OH, TinyCircuits was originally started in 2011 by Ken Burns as AkroSense, with the intent to develop cheap, smart (very easy to use) and tiny sensors. During development of the intial sensor prototypes, we realized the need for a host processor platform to use – and the Arduino was the perfect fit. After showing off the prototypes to our friends, we began to shift our focus to building out the TinyDuino platform first, offering a core set of building blocks for makers to use to build cool stuff.

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