Consumer expectations continue to grow and are expected to drive continued investment in IT and cloud software over the coming years. Customers demand personalised service, flexibility, and choice, no matter how they shop or do business. They want to order products whenever they want, however they want, be it online, in-store, or by phone etc and have it delivered wherever they want. With these shifts in demands in the omni-channel marketplace, businesses are having to quickly adapt their approach.
In the broadest sense, the term Internet of Things (IoT) encompasses everything connected to the internet, but it is increasingly being used to define objects that “talk” to each other. Simply, the Internet of Things is made up of devices and software– from simple sensors to smartphones, barcode scanners and wearables – connected together.
Cloud based applications such as Asset Tracking Solutions or Inspection Solutions, are key to using this leveraged data. The Internet of Things doesn’t function without cloud based applications to interpret and transmit the data coming from all these devices. The cloud is what enables the apps to go to work for you anytime, anywhere.
Increased connectivity is everywhere, as tech companies make everything from heating systems to refrigerators internet-ready. For example, today’s warehouse is far more than just a facility in which to store inventory. Leveraging the latest supply chain technology and the Internet of Things (IoT), a “smart warehouse” can now serve as a hub to boost efficiency and speed throughout the entire supply chain. From wearables on workers to sensors and smart equipment, internet-enabled devices and technology for asset tracking and reporting can profoundly change logistics management.
Connected devices, software and sensors can help manage the right quantity of products, at the right price, time and place. The objective is to manage the route (journey) of merchandise from pick-up point to end point, including pick-ups, reception, quality control, reporting and forecasting etc.
3 Ways Supply Chains will benefit from Cloud Software & IoT
- A Responsive, Continually Improving Supply Chain: In an omni-channel marketplace, organisations that ramp up utilisation of cloud software & the IoT will enjoy a highly intelligent, transparent and responsive supply chain that continually improves itself. The IoT platform will allow supply chains to accurately locate, track and measure the movement of inventory through sensor technology and will have the agility needed to speed up or slow down based on the dictation of customer demand.
- A Smarter Warehouse: Embracing cloud software & the IoT grants supply chains the ability to operate a hyper-efficient, optimal warehouse. The result (and subsequent impact on the bottom line) is a reduction in asset losses, temperature stability, and total warehouse inventory optimisation and accuracy.
- A Deeply Intelligent Supply Chain: With enhanced connectivity, supply chains will feel the impact of intelligence on every area of their business, including financial, customer support, marketing, sales, and operations. By boosting forecasting accuracy and demand planning capabilities, organisations will be able to focus on the right tasks at the right times, leading to significant cost and time savings.
Getting it right
With the right cloud software & IoT solution in place, enterprises can connect all devices across a centralised cloud network, and capture and share their mission-critical data through key software applications, allowing them to gain real-time visibility of their operations. This enhanced business knowledge can be gained through a set of enabling technologies in the areas of asset management, cloud, mobile and Big Data.