The Internet of Things, or IoT as people call it, is an evolving trend, going leaps and
bounds, exceeding every industrial connection only to change and reinvent
methods. Kevin Ashton, who first coined the term Internet of Things in 1999,
had said that the benefit of IoT is likely to grow year after year.
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| IoT Development Company in India |
Masters and
forecasts predict the IoT market to experience a hypersonic growth and reach
nearly 50 billion connected objects by 2020. Though the technology has not
transferred its full potential, its adoption rate is continuously growing
across industries. The logistics business is one of those areas today
containing IoT heavily to streamline their business processes.
Delivery,
which is supposed to be the heart of logistics, can only get better by increasing
operational visibility to perform efficient and faster actions. And this can
only be achieved by utilizing IoT let us see how.
Real-time
tracking
If there is
something IoT has revolutionized in the logistics industry then it is tracking
of goods in real-time. The E-commerce giant uses RFID tags to allow customers
to track their ordered goods right from the time they make a purchase until the
time they arrive at their doorstep. These tags are embedded with an integrated a circuit that transmits data to the users, which allows enables the customers to
track the location of their order without calling the customer care to ask the
status of reach.
This
real-time tracking of fleet allows monitoring fuel costs, diagnostics, and
faster deliveries. The real-time system can also improve logistics companies to
keep a check on their drivers’ execution and vehicles. The technology also
increases safety and reduces inventory damages.
Predictive
analytics
The key to
growth in the logistics industry is to amalgamate IoT with predictive
analytics. It is not just about obtaining large amounts of data from multiple
connected devices, but utilizing that information to benefit the logistics
business is essential. This big data can help businesses reckon better routes
for their fleet, along with the efficiency of the drivers. Moreover, they can
also identify inefficiencies and then improve their business processes
accordingly.
Collecting
helpful information is necessary to prepare further developments. For instance,
predictive analytics can help businesses conduct maintenance on their devices
at the right time with the help of the gathered data, which is very important
to prevent uncertain failures that could impede and disturb the regular
schedules.
Predictive
analytics can also help cut operating costs. As businesses can expect
fluctuation in demand, they can easily create more precise schedules that
reduce overstaffing and understaffing that may need overtime which is usually
really expensive.
Delivery
Making a
hassle-free delivery through precarious roads and bad weather conditions is at
times impossible. However, logistics businesses can be proactive and avoid
those difficulties by means of executing GPS and RFID.
Data
obtained from GPS and RFID helps companies stay alert and notified about the
expected delays that are imminent on their way. As a consequence of this,
people can discover alternative routes to fulfill their task.
Examples
Prestigious
logistics businesses like DHL and Cargotec are already utilizing IoT for the
past many years.
DHL
collaborated with Huawei Technologies to develop a Narrowband Internet of
Things (NB-IoT) app, which facilitates and maintains yard management
efficiently. This has helped the company to extraordinary developments in
inbound processing time at the site.
Cargotec
partnered with Tata Consultancy Services (TCS) to develop an IoT system in its
logistics program to gather, store and analyze sensory data. Since then, the
company has been able to improve its productivity and machine utilization,
which has helped the organization on cost savings and give a unique value to
customers.
Conclusion
Imagine the
experience without technology, or for that thing, the logistics industry
without IoT.
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