Using IoT to Improve Supply Chain Management

Managing the supply chain is a complicated process that involves carrying products from manufacturers and suppliers to consumers through a complex web of transactions. Food, beverages, clothing and other consumer goods change many hands before reaching consumers. Implementing IoT solutions to supply chain processes enables manufacturers to monitor the status of their physical goods and capture useful data to reduce the complexities of it. IoT also improves transparency, traceability, security, and efficiency while reducing costs. 

Let’s explore some benefits of implementing IoT to Supply chain

Asset Tracking: According to Forrester’s survey 58 %- 77% of organizations consider tracking containers, objects, and personnel as the fundamental functions of IoT. 

Supply chain management is communicating with geographically dispersed teams to track the location of goods. Implementing IoT solutions enables businesses to identify, track and locate the status of assets in real-time. The IoT uses RFID tags to establish communication between devices and objects. Smart objects embedded with RFID tags and sensors enable manufacturers to track products from “floor to store” and even beyond. Data gathered from RFID tags and sensors when integrated with a business information system can be used for business intelligence. It makes real-time tracking of the vehicle easier so that owners can evaluate when a specific consignment will be delivered.  

Minimizes Wastage:  According to the Food and Agriculture Organisation of the United Nations, up to one-third of food perishes in transit every year. IoT devices can be used to minimize the wastage of food items by sharing details with the owners about temperature fluctuations, humidity levels, light intensity, and more. The IoT sensors monitor temperature-sensitive pharmaceutical products to ensure product integrity after leaving the warehouse.  

Efficient Stock Management: It keeps the owners informed about the vacant space available in the warehouse for optimum utilization. The IoT sensors record the moment of raw material so that owners stay pre-informed about stock availability for future manufacturing. Data gathered through the IoT sensors can be used to make manufacturing processes more efficient. The system even sends alerts about the expiry of a product so that it is moved out of the store for selling in real-time.   

Schedule Maintainance: Manufacturing firms can use smart sensors on their floors to manage scheduled and predictive maintenance to reduce downtime that would have otherwise cost them a lot. 

Worker and Asset Safety: Smart IoT sensors update the owners in case of a system failure. It will enable them to detect risky scenarios in real-time so that immediate action is taken before a mishap. IoT maintains a detailed log of every user activity in the supply chain process to enhance the security of the entire system.  

Track Movement of Goods: GPS sensors attached to the cargo can be used to track the speed at which the goods are moving. The traffic flow of products can be used to evaluate how goods will move through the supply chain. The sensors prepare the manufacturers, suppliers, and distribution centers in advance on how to align their delivery of goods. 

Reduces Thefts:  Delivery of expensive items like diamond jewelry was a concern for the organizations. IoT enabled sensors are now attached to the products to monitor where the items have reached to eliminate the chances of theft. For example, Amazon uses WiFI robots to scan QR codes on its products to track and sort its orders in real-time. 

Embedding smart IoT sensors to your products can enable manufacturers to minimize the wastage of goods. GPS sensor attached to cargo can monitor the movement of goods in real-time. It even evaluates a route with maximum traffic and re-routes the driver to a road with minimum traffic to speed up the supply chain. IoT sensors can also be integrated inside warehouses to assess raw material available for the production of goods. Businesses can even incorporate these occupancy sensors to warehouses to reduce the chances of theft at night. 

Looking for a secure IoT solution to align your supply chain processes? Contact Oodles Technologies, we are a seasoned IoT App Development company. We provide enterprise-grade and consumer IoT applications that harness the power of machine learning and advanced analytics. Our IoT solutions provide business efficiency and improved services. We build smart products including home automation, security systems, industrial IoT and more. Contact us today!