The amount of disruption brought by the Covid-19 pandemic in today’s business is very high. Several studies reveal that more than 80% of organization’s supply chains have been negatively impacted. Many organizations are rethinking their global supply chain and many are moving towards local and regional supply chains, with production and skills located closer to the customer. This has opened doors mainly to the digital Supply chains, where supply chains enabled by technologies like IoT and Artificial Intelligence are becoming popular. Companies said these assistants helped them speed up supply chain analysis by 26 percent and enhance employee productivity by 28 percent.
The Internet of Things or IoT in short can be referred to as a system of internet-connected devices, and sensors that collect and transfer information over a wireless network without much human intervention. IoT technology in the global supply chain can help businesses serve their customers better and also save money and improve overall efficiency.
With companies now running on half the number of employees, IoT devices enable employees engaged in logistics to effectively track their cargo transportation and inventory.
Some critical insights into how IoT can reshape the entire supply chain potential:
Examples of IoT transforming supply chain
Amazon Warehouse Automation is quite popular. It has around 400 robots and many IoT devices to track inventory, improve productivity and make the entire supply chain process smoother and efficient.
Volvo uses cloud-based IoT systems to track the shipping process of car components and car delivery to their global suppliers
Nissan uses robots and IoT automation for a large part of its supply chain.
Decathlon – a sports retailer, uses IoT technology in its stores to track the delivery of its products.
Thus, the IoT-based platform has become an attractive investment for small businesses and enterprises as it helps retailers, manufacturers, and supply chain managers to share best practices and inspire new opportunities in this pandemic situation.