IOT IN SUPPLY CHAIN MANAGEMENT


A majority of organizations are redesigning their supply chain management to give them a new faster face. The major objective for this is not only to meet the customer needs but also to deliver efficient and rapid solutions required to address the major bottlenecks in the growth trajectory. IoT devices have revolutionized the supply chain management (SCM ) with operational efficiency and revenue opportunities. It’s now much easier to understand where the goods are, how they are being stored and when they are expected to arrive at the destination. Moreover, if the products remain tagged with IoT devices, the storage conditions of products can be monitored which enhances the quality management throughout the supply chain and also the product can be located within a large warehouse, which ensures accurate identification and management of goods.

A more connected supply chain not only helps boost efficiency but also helps to deliver better customer service. It helps the managers to track the item in near real-time using  a mobile apps or to access the information by just sitting at his office, so that forecasting delivery times becomes a more exact science. Managers can then identify any potential issues sooner and can contact the respective customer to manage their expectations, or make alternative arrangements to ensure that the Service Level Agreements (SLAs) are met. The connected fleet also allows for automation of status updates for customers which will help them to stay informed and also helps in reducing the inbound enquiries to customer contact centres.

The latest analysis of Frost & Sullivan on the growth opportunities in the IoT-enabled Supply Chain Management Market, Forecast to 2024, reveals that end-to-end visibility, transparency, predictive analysis and real-time insights are some of the benefits driving to incorporate IoT within the supply chain management (SCM) market.

Some of the major advantages that the IoT enabled SCM helps to monitor perishable items like pharmaceuticals constantly in the warehouse for temperature, humidity, and other factors. In case of any damaged goods, documentation is provided with details of the time and location of the damage and strengthens accountability. The mail and logistics giant DHL has launched the smart trucking which is an innovative trucking solution leveraging IoT technology to monitor their operations, to increase the visibility and to save costs.

- By
Irene Sabu

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