Effect Of Iot On Supply Chain

“The internet is becoming the town square for the global village of tomorrow.”

-Bill Gates

The internet has emerged as one of the most important tools of communication.
 It is an important source of information, a connecting space for both personal and  business network. The Internet of Things holds the power to create a smarter & more connected world.

A supply chain, which is the network of all the individuals, organizations, resources, activities and technology involved in the creation and sale of a product; uses Internet of Things to transform into a Nextgen supply chain from a traditional supply chain. IoT in supply chain has enabled improved automation, inventory control, forecasting accuracy & real time tracking in supply chain. An IoT-enhanced supply chain can take the logistics operational capacities to the next level.

The Internet of Things (IoT) is a network of interconnected physical devices that have the ability to monitor, report and send and exchange data. IoT devices are typically connected to computer systems via internet as the term itself suggests.

IoT facilitates real time tracking which is useful for High- value items and temperature- sensitive goods. IoT enabled devices automatically can flag shipments that have left their safe temperature zone which helps to protect the consumers from spoiled goods. Proper implementation of IoT systems help improve the demand forecasting of the business. It reduces the human error in data collection and enables data collection at all times. A key reminder that the IoT solutions must be accompanied by compatible software and backend solutions.

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