How Can A Supply Chain Benefit From The IoT?
Aug 19, 2019 Comments (1)
A business and a mobile app development company would do well to consider the newfound benefits.
For example, a company's supply chain stands to benefit immensely. When products are in the process of moving from one location to the next, the IoT offers no shortage of advantages. It is time to take a closer look at these benefits and how they are going to manifest themselves going forward.
1. More Last Minute Delivery Capability
Last minute deliveries used to be essentially impossible for the average company to handle. This is a common concern that any mobile app development company can address. Since these deliveries take up a great deal of time, they were usually avoided in the past. Thanks to the Internet of Things, a supply chain is no longer beholden to the same time constraints when it comes to these deliveries. The IoT allows a company to choose the best routes and avoid unwanted delays.
Package tracking is improved, as well. This allows the customer to enjoy more peace of mind than ever before. Traffic analytics are also provided by the Internet of Things, giving a company the chance to map out a top notch route in real time. All of the typical excuses that are associated with a lack of last minute deliveries are eliminated entirely.
2. Managing a Fleet of Delivery Vehicles
Any company that has a fleet of vehicles to manage is going to want to use the Internet of Things to optimize their supply chain. Managing the needs associated with all of these vehicles is not going to be easy. In the old days, one person would have to take care all of these issues manually. IoT sensors are now being used as a means of monitoring the vehicles from afar.
This offers a business a far greater level of efficiency, as they are no longer forced to spend valuable time and effort on the maintenance of a fleet. If there any issues taking place with the vehicles, the IoT sensors alert the proper authorities instantly. The issues are addressed while they are still minor, as opposed to waiting until a more major crisis has had the chance to occur.
3. Prevention of Downtime
Speaking of preventive maintenance, any supply chain that relies on the Internet benefits immediately from the prevention of downtime as well. Any unscheduled downtime can cause any number of unforeseen issues for a company. Supply chains need to be able to run on their established schedules. When they cannot, equipment failures are more likely to occur. Of course, these failures always take place at a very inopportune moment.
The Internet of Things removes these concerns from the equation almost entirely. Equipment failures do not typically take place due to age, despite the common perception. In fact, studies show that only a small percentage of equipment failure is age related. The vast majority of the outages that take place can be prevented with the usage of the Internet of Things. After all, downtime is too costly to risk.
4. Added Levels of Transparency
Business owners are always looking to create a greater level of transparency. Consumers are no longer going to take a company's word for it when it comes to their environmental friendliness. Everyone wants to know where their products are being derived from. Now that anyone and everyone is able to research these aspects of any company that they are considering, supply chain transparency is everything.
All it takes is one negative finding to send a customer looking elsewhere. Today's consumer is incredibly savvy. A company that prizes transparency is a company that is never going to have to hide anything from their clientele. A consumer is also more likely to spend more when they are given access to the information that they need most. Transparency is also another great way to avoid the usual disruptions that place a company in jeopardy.
5. Increased Ability To Track Inventory
When the average person meets with a mobile app development company to discuss concerns that are related to inventory, they imagine a room full of staffers who handle the task by hand. Now, a mobile app development company can direct a company in the right direction. Manual input has its limitations and the IoT is designed to remove them.
Companies that rely on the IoT receive real time updates on their inventory. Shortages are avoided and this benefits the consumer and the company equally. Companies enjoy the reputability that comes with avoiding shortages and the consumer is able to enjoy the peace of mind that comes with knowing that their needs are met. Shrinkage and theft are also removed from the equation almost entirely.
As the Internet of Things continues to grow in an exponential manner, companies that do not update their supply chains accordingly will miss out on the aforementioned advantages. The adoption of the Internet of Things (and the assistance of a mobile app development company) is no longer optional when it comes to the supply chain world. Now that it is mandatory, it is time for widespread adoption to take place. Otherwise, companies risk being left in the dust by those who are more forward thinking.
Elena Randall is a Content Creator Who works for Top Software Companies, provides a top 10 list of top software development companies within the world. She is passionate about reading and writing.