The Internet of Things is set to revolutionize the supply chain with both operational efficiencies and revenue opportunities made possible with just this type of transparency. In todayâs market, supply chain isnât just a way to keep track of your product. Itâs a way to gain an edge on your competitors and even build your own brand. The following are a few areas where weâll be seeing the most advancement and change with the ever-advancing Industrial Internet of Things.
Operational Efficiencies: When it comes to operational efficiencies, the Internet of Things offers many:
Asset Tracking: Tracking numbers and bar codes used to be the standard method for managing goods throughout the supply chain. But with the Internet of Things, those methods are no longer the most expedient. New RFID and GPS sensors can track products âfrom floor to storeâ.
Vendor Relations: The data obtained through asset tracking is also important because it allows companies to tweak their own production schedules, as well as recognize sub-par vendor relationships that may be costing them money.
Forecasting and Inventory: Another bonus: Internet of Things sensors can provide far more accurate inventories than humans can manage alone. For instance, Amazon is using WiFi robots to scan QR codes on its products to track and triage its orders.
Connected Fleets: As the supply chain continues to grow: Just like cities are using this data to get to emergencies quicker or clear up traffic issues, manufacturers are using it to get better products to their customers, faster.
Scheduled Maintenance: Of course, the Internet of Things can also use smart sensors on its manufacturing floors to manage planned and predictive maintenance and prevent down-time that can cost so much.
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