The effective movement of goods through a supply chain can be crucial to a company’s success. Tracking assets, monitoring the quality, and establishing timeliness can help build a flexible, successful, and connected supply chain. One way to optimize this process is with the Internet of Things (IoT). With IoT, companies can gain better visibility, control, and compliance in their logistics solutions.
Despite the challenges in supply chain management, The IoT in supply chain logistics market is continuing to strengthen. According to MarketsandMarkets, the global IoT in supply chain market is projected to grow from $18.9 billion in 2022 to roughly $34.8 billion by 2027. The growing demand in this landscape is largely due to the climbing number of connected devices and expanding eCommerce industry.
In order to avoid barriers in supply chain management, there are several key questions that must be asked and answered to help achieve a smart system:
For more information and a closer look into ways to unlock a smarter supply chain, check out our infographic here.
One area in supply chain management that heavily relies on IoT for its success is cold chain monitoring. Cold chain monitoring/management depends on temperature-controlled technology to transport goods from point A to point B without the cargo being spoiled.
With the help of technology, perishable goods are closely monitored and regulated to ensure safe and intact deliveries. Real-time sensors are attached to these goods, so supply chain managers can track deliveries based on real-time conditions, such as location, weather, and quality. This solution greatly reduces any complications that may arise while in transit. The supply chain can often be unpredictable, but with IoT, obstacles can be caught earlier, resulting in increased sustainability (less tarnished cargo) and reduced maintenance costs.
The protection of your assets is not only limited to the environment and ROI. Here are more ways asset management can benefit your company:
IoT is just a small piece of the substantial puzzle in the supply chain and logistics industry. KORE provides you with several comprehensive solutions to best fit your system’s needs. We specialize in quality control to ensure your goods are safely delivered on-time. Get increased visibility with our Critical Asset Monitoring solution. An advanced tracking solution designed to mitigate risks and protect what matters most.
Learn more about our extensive IoT supply chain solution here.
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