Saving Millions by Using IoT in Supply Chain Management

The efficiency and transparency in supply chain management are much more important today than we realize. It has become an important part of all industries since the digital revolution.

According to a study in 2017, 31% of businesses said they did not analyze the full supply chain to identify the original source of any disruption they experienced”. It means that visibility of complete supply chain cannot be ignored and it needs serious implementation to avoid losses.

Customers want their products delivered to them as soon as possible which is why competition to provide best services is very high in today’s market. This can be done by improving internal processes within enterprises at every stage to speed up the delivery of product.

Supply chain management needs to be done effectively to ensure better production of products, which is why there is a constant need of data at every step to eliminate the factors which slows down the supply chain.

Hence, the use of IoT comes into picture which provides a solution to the problem of monitoring and tracking supply chain at every step through data.

Delay in Delivery

Faster deliveries of products depends upon if a supply chain has smoother and transparent process.

There are always uncertain factors involved like traffic which causes delay in delivery of the products and controlling these factors is very difficult, hence it leads to shipment delay and stock shortage.

There is no ETA when these conditions come into picture and this leads to complete process of supply chain management getting hampered.

IoT enabled supply chain will cut the uncertainty and provide ETA by keeping traffic conditions in mind. You know where your products are at the moment and when they will reach the location, so, you can plan your activities accordingly.

Tracking Products Inside and Outside Warehousing Facility

In most of the cases, a warehousing facility is managed by tracking products through Barcode and/or RFID tags. Even today, the majority of warehouses are dependent on human resources to track products one by one within and outside warehouses which increases the chance of errors.

IoT based devices can help you track your good easily both inside and outside warehouses. These devices can track your products to the exact location and also tell you about the past information of products like – how long the products have been at the same location for and what its expiration date and where are the products similar to this category.

Enterprises and small businesses can save millions by integrating the power of the internet of things and make their inventory management system smarter, transparent and reliable.

Leave a Reply

Your email address will not be published. Required fields are marked *