Production, warehouse & distribution automation
The Internet of things has been around for some time now; it is being used in more and more industries every day. Forward-thinking supply chains are one of the biggest implementers of this technology, making use of wireless sensors and tags to capture, analyze and tweak every bit of data for inventory optimization. Here are 6 of the chief benefits of IOT in supply chain visibility and warehouse management solutions :
- Visibility – The developments in Industrial IOT enable better insight into the exact happenings at each stage and time in the supply chain. Professionals today can see precisely where an item is, and how long it has been in that location, helping them to make informed decisions. Earlier, only occasional updates used to be available, and often the information was too outdated when received, and making changes and adjustments was next to impossible.
- Operational Efficiency: IOT solutions in supply chain afford real-time visibility, and information sharing is now possible at all levels; this allows professionals to recognize deficiencies immediately, and to take remedial or preventive measures. They can also see delays and trends that could affect the outcome, as well as poorly designed processes that make a big hole in the finances without delivering requisite results; all these can be remedied. With access to real-time data on supply chain analytics, the management has no longer got to rely on bits and pieces of info from various teams spread all over the country (or world), which may not even be timely.
- Customer Service: IOT helps companies revamp their processes to enhance efficiency, thereby drastically reducing the time from order to delivery and inventory optimization. Real time data access enables speedy and efficient delivery, which is an absolute must in today’s world to ensure customer happiness. Today’s savvy customer also wants updates – tracking their item to see where it is at a given time – and to be notified in real-time, and when they can expect delivery. IOT helps companies meet this expectation too.
- Inventory Management: Customers today are discerning and demanding; they expect to get products and services exactly when and how they want. Thanks to the internet of things, logistics and inventory management has become much simpler, and companies now know automatically when products have to be restocked. This preempts inventory problems and eliminates delays in service, and keeps customers happy.
- Loss Management: Thanks to Bluetooth sensors tracking all movements, the possibility of merchandise getting lost in transit is next to zero. If ever something gets lost or stolen, the company will get to know exactly when and where it happened, along with the reasons for the same. Thus IoT cargo tracking solution can help management identify weak spots within the supply chain before it blows up into a huge issue, impacting revenues and customer satisfaction.
- Enhanced Profits: All of the above-mentioned benefits eventually help the company to increase profits. With better inventory control and customer satisfaction, companies are able to not just retain their existing customers but increase the base as well; this means more revenue. Lesser losses also translate into more profits. IoT supply chain logistics solutions give the digital twin advantage; they can help businesses in inventory optimization and deliver products quickly and efficiently, and eventually, boost their profit margins.
Supply chain visibility solutions from RipplesIOT
If you’re a supply chain company based in Africa or Asia Pacific region, and you’re interested in increasing your efficiency and profitability, you need to implement IOT supply chain visibility technology in your business. Ripples-FMS is an end to end ERP solution for logistics companies. Call us today to speak to our senior business consultants, and we’ll help you set it up!