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The Right IoT Implementations can Improve Your Supply Chain Performance Featured

The Right IoT Implementations can Improve Your Supply Chain Performance "https:\/\/\/iot-bit\/"

The Internet of Things (IoT) is changing many things in our lives. It is changing how we look at or do everything, from managing our homes to looking after our health through wearable devices. However, the supply chain sector seems to be the biggest gainer with the advancement of this technology. Thanks to IoT, companies in the supply chain sector can now do many things better, including tracking products in the supply chain from the manufacturing plant to store shelves. As one of the players in this sector, the right IoT implementations can substantially improve your supply chain performance. Here are some benefits of IoT in the supply chain.

  1. Improving inventory tracking

Manufacturers take advantage of IoT devices to track their inventory in any part of the world and in real-time. With Radio Frequency Identification (RFID) tags, manufacturers will receive real-time information about their products from wherever they are. This helps them manage their inventory and optimize them for improved efficiency.  With real-time information, they can give their customers the correct arrival dates for their shipments or notify them of delays where necessary. This technology also allows them to trace finished products and any product recalls.

  1. Enhancing supply chain transparency

As seen above, companies can see where their products are at any given time, thanks to IoT technology. With the correct implementation of this technology, customers are able to track their product from source to destination and in every part of the production chain. Because of this, transparency in the supply chain is enhanced, and customers can understand where their product is at any given time. With enhanced visibility, supply chain interruption is minimized, and customers’ trust is earned because any issue is identified and communicated clearly for better efficiency.  

  1. Predictive maintenance

This is perhaps one of the most significant advantages of IoT. With this, IoT sensors help identify when machines need maintenance based on different aspects such as heat, vibration, and humidity, among other data points. Armed with the correct data from sensors fitted into a machine, machines are repaired on schedule before they completely come to a halt or break up completely. Instead of waiting for them to fail during production, which is the worst thing that can happen, different types of equipment are fixed when their problems are minimal. This saves on time that could have been lost and minimizes the cost of maintenance.

  1. Tracking temperature on cold chain transport

Monitoring cold chain transport is one of the complex tasks in supply chain management that requires accuracy. This is mainly the case when it comes to tracking temperatures of products being transported that mainly fall in the category of food items perishables and eatables to ensure they remain fresh and their quality is intact. With IoT sensors, this can be achieved using predictive and descriptive analysis, that monitors them and sends data in real-time. In case the temperature rises above the required levels, an alert is sent in real-time, along with the location of the items. 

  1. For improved fleet management

IoT can be used to manage fleets' operations and environment. Through the connection of the fleet to IoT, companies can ensure their transport remains on the road longer. This technology also allows supply chain and logistics firms to get the real-time tracking of their fleet at a lower cost and enhance efficiency.  This improves the last-mile delivery of products, leading to repeat orders from consumers. With the information provided by the sensors, companies can streamline their operations and increase customer retention.

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Scott Koegler

Scott Koegler is Executive Editor for PMG360. He is a technology writer and editor with 20+ years experience delivering high value content to readers and publishers. 

Find his portfolio here and his personal bio here