Internet of Things (IoT), a new technology in the logistics industry, can benefit not only the companies, but also the customers. Customers can track their product shipment and find out the exact delivery date, among other things.
Internet of Things (IoT), which provides real-time data, is a major factor in the growth of many industries. IoT is a great benefit to the logistics sector.
IoT in combination with emerging technologies like Big Data provides a platform for a more efficient supply chain. This is achieved through greater transparency and quicker detection of problems. A connected logistics system is based on inventory management and warehouse storage. Sensors that are IoT enabled allow companies to track inventory items easily, monitor their status and create a smart storage system. Using this data, businesses can predict equipment failures to reduce associated risks.
IoT also helps to enhance the security in a warehouse. IoT is used by CCTVs and alarm sensor devices to protect assets and announce thefts. Remote alarm monitoring allows video data to be monitored at any time, anywhere.
Safety is important in warehouse management but most logistics companies struggle to guarantee the safety of their staff. Companies that use these new technologies have been able to protect their employees by drastically reducing workplace accidents. Companies can monitor the performance of drivers and vehicles with real-time data. This helps to increase safety and reduce damage to inventory.
IoT is a real-time tracking tool that allows customers to track products. Amazon and other companies use radio frequency identification tags to help their customers track the delivery of their products. RFID tags are equipped with an integrated circuit which allows customers to track the shipment of their products.
IoT-based sensor technology can also maintain temperature stability, and minimize the waste of perishable goods, thus enhancing visibility from end to end in the supply chain. It can collect data on environmental factors like pressure, humidity and light exposure.
Union Pacific, a US-based company, uses IoT for monitoring equipment and predicting possible failures. Sensors are used by the company to monitor train wheels. Union Pacific was able to reduce the risk of derailment, and thus work-related injuries.
Carbon footprints are emitted by many companies, such as those that ship heavy equipment. These companies can use IoT devices to monitor, analyse and manage their carbon footprints at all levels. Companies can identify processes that are causing high carbon emissions and take steps to reduce them.
Predictive analytics and IoT are essential for the logistics industry to grow. These tools can be used to plan the shortest routes for deliveries, detect early signs of equipment problems, and remind staff when it is time to replace components. The result is increased warehouse productivity, replacement of defective equipment parts in a timely manner, and the prevention of accidents.
DB Schenker is a global provider of logistics and has developed the Decision Support Tool. The company uses this software at various warehouse locations to simulate the daily processes and schedules to optimize operations. The company also launched Industrial Data Space – a platform that allows companies to securely exchange data.
IoT will transform the logistics industry on many levels. In the next few years, as sensor prices continue to fall and IoT networks become more affordable, it will be possible to deploy large-scale IoT in logistics.
