IoT technology has immensely impacted the supply chain management in meeting the growing demands of customers like transparency and visibility.
FREMONT, CA: The ever-evolving internet of things (IoT) is trending in the market, where many devices are emerging, inviting the smart world. The demand for IoT devices helps in enhancing the business culture as well as the work process. IoT devices are not just crucial for drones and self-driving cars, but it has a vital role to play in the global supply chain, which is becoming very complicated.
With this complexity in the supply network, the companies miss out on monitoring their shipping containers. According to a report, around 1400 shipping containers are missing every year, leading to the loss in sea trade, while making it difficult for the companies to invest more on the missing containers. To avoid such issues, the companies need an end-to-end supply chain transparency that helps in tackling future problems.
The IoT sensor devices incorporated in the supply chain process to track the data during the shipping journey provides transparency and visibility of the product. The devices connected to the containers offer clarity on the condition of the product in the supply chain. The devices also help in preventing any damage to the containers before reaching its destination. However, to enhance IoT benefits, the supply chain gets support from 0G network. The 0G technology allows the timely transfer of data with less cost. Thus, the IoT devices connecting to 0G network aids in tracking the conditions and location of the container through communication.
Also, it helps to know about the conditions of the product during the shipment journey, and by collecting the data, it helps in detecting the stability of the product. With such steps, the organizations can prevent the occurrence of damage and provide quality goods to meet the industry standards. The supply chain's push and pull model can be enhanced with the IoT wherein push model suppliers can identify which product to keep in stock according to the industry standards, and in the pull model the suppliers know about the demands in the market.
Down the line, supply chain management needs to invest more on IoT devices to sustain in the growing competitive market. Organizations have to focus more on the supply chain that is connected to IoT devices to meet the demands of the customers.