Internet of Things Will Deliver $1.9 Trillion Boost to Supply Chain & Logistics Operations
On the 16th of April 2015, DHL and Cisco published a joint paper predicting that IoT advancements would boost the supply chain and logistics industries by $1.9 trillion. In this trend report, it was estimated that 50 billion devices would be connected to the Internet by the year 2020—up from 15 billion in 2015. Warehousing and freight transportation are the two areas that were expected to benefit the most.
In the paper, the authors explain that IoT advancements are only just beginning to affect supply chain operations and the potential boosts in efficiency is much more dramatic than what we are seeing today. By using smart supply chains, every detail can be optimized from the movement of inventory to the most efficient utilization of trailers and drivers. This cuts losses from inventory shrinkage and the time that trailers spend idling in yards for the smoothest, fastest supply chain imaginable.
How an IoT Sensor Network Can Transform Your Supply Chain
By connecting all of the devices involved in transporting inventory from dock-door to dock-door, it becomes possible to track every item and every asset in real time. IoT advancements in the form of aerial robots can manage your inventory constantly with autonomous flight paths and optical recognition capabilities.
Using passive RFID, GPS, and Optical, inventory can then be followed as it is loaded onto the trailer (fitted with a smart scanner), as it passes through the check-out gate (also connected to the IoT) and followed throughout its journey until it arrives at its destination.
Reducing Error for Greater Efficiency
By fitting every device in the supply chain with IoT advancements such as smart sensors and scanners, repetitive manual tasks such as checking inventory and communicating delays in transportation become unnecessary and errors are virtually eliminated. Furthermore, the centralized data then then be analyzed and used for strategic planning and further optimization. Our centralized command center can even be operated from smartphones and tablets!
Fortunately, our cloud-based YMS can be integrated easily with your existing transportation management system (TMS) and warehouse management system (WMS) for minimal hassle and a speedy implementation.
PINC: A Leader in IoT Advancements Technology
Customer demands for increased velocity and lower prices are driving the need for constant optimization and technologies such as IoT represent the only way to stay ahead of the game in the digital era.
As a world leader in supply chain innovations, PINC is already using a comprehensive IoT sensor network that tracks millions of freight shipments each year. This network uploads real-time asset location data to the cloud that can then be used in meaningful ways as part of our advanced YMS and supply chain execution solutions.
PINC’s Global Reach
On a global level, PINC is an industry leader in terms of IoT advancements and its applications in the logistics industry. We have been recognized as an industry leader by Supply & Demand Chain Executive and the Food Logistics 100+ and are proud to offer our cutting-edge solutions to companies of all sizes.
If you would like to learn how PINC and our IoT sensor network solutions could benefit your supply chain and increase your revenue, please contact us today.