The influence of IoT in the shipping and logistics industry is so much that it will completely redefine the way logistics industry routine works. But it is worthy to look at the present features that are offered by IoT solutions specific to Logistics that can make the supply chain operations as innovative as possible.
Application of IoT in logistics industry is diversified from resource planning, to vessel planning, and to scheduled maintenance. Forecasting of demand and resourcing containers for shipments involves a large amount of data aggregation that is otherwise impossible without the role of IoT smart devices on-board logistics supplies and systems.
Manage shipments location
To keep account of all shipments in the logistics supply chain, it is important to identify the shipments in the entire cycle of supply chain activities. The use of RFID tagged IoT sensors on these shipments allows the supply chain process to identify and record the items in the entire cycle of shipments.
The internet connected RFID tagged IoT sensors will collect useful information on the status of processing and lead time and turn around time at every point in the supply chain. Not just the shipments but assets involved in the supply chain process are also tracked using these special IoT sensors to find the location of assets during its transit in the supply chain.
Track your Inventory
The use of special IoT sensors allows efficient accounting of inventory and the quality of inventory under transit at various points in the entire supply chain. This can help distinguish perishable and non-perishable goods under transit can help in choosing the best possible supply chain route.
Over-stocking or under-stocking can also be managed in an efficient manner to keep track of the volume of stocks arrived and the turn around of time for the items to be restocked. Smart shelves are the suitable IoT solution to monitor the shelf activity from time to time and raise an alarm on either cases, over-stocking or under-stocking.
This periodic monitoring of inventory can be a great optimization mechanism to keep track on efficient utilization of warehouse spaces.
Monitor supply chain
Supply chain management system is the traditional way of monitoring the entire cycle of events in the supply chain. The use of supply chain management platform in addition to the utilization of services on cloud such as Blockchain and Microsoft Azure makes it even easier to handle operations in various cycles of supply chain.
The entire lifecycle of the products from the factory to the end-user can now be tracked with smart IoT devices to monitor the different supply chain process parameters. Blockchain and Microsoft Azure are transaction monitoring and big data storage services available that can make the data collected from the supply chain IoT devices and store them for further analytical study on the efficiency of supply chain systems.
Demand forecasting is the essence of optimal operations in logistics, and it is so central to all other aspects of logistics. Just-in-time (JIT) is the industry standard practice which focuses on maintain a low inventory and maintain 100% efficient shelves spaces or warehouses and stock enough containers for processing shipments on carriers.
Using IoT based centralized supply chain monitoring systems will help achieve JIT planning and reduce the cost of supply chain operations 12% without affecting the revenue streams and agreed upon service level delivery.