Impact of IoT in the Logistics Industry
The world today is interconnected in many ways. No place is out of reach anymore and there is a continuous transportation of goods, services as well as people round the clock. But, difficulty remains in tracking progress of transportation and ensuring that the materials or people in conveyance reach the destination in time. This is currently being solved with the adaptation of IoT by several logistics companies.
The Internet of Things (IoT) is a technological concept of physical devices being linked to the web and to each other. It is a computing technology that enables physical devices to exchange data. The physical devices can be objects, animals or digital machines given special identifiers. With IoT adaptation, information can be exchanged over the internet without human intervention. IoT enabled systems bolster the resilience of these transportation systems by offering real-time monitoring, adjustments to optimize the flow of goods and people.
In addition, the automation of certain services and usage of predictive analytics can anticipate future needs. Adaptation of IoT gives more organized and systemic power to the transportation system, incurring lesser confusion and expenses. For example, sensors can generate detailed information such as weather on the way, the condition of the roads and locating an address. These pieces of information can enable meeting deadlines on time and ensure customer satisfaction.
Here are some of the notable advantages IoT technology can bring to the logistics industry;
Warehouse Management & Tracking: IoT is revolutionizing warehouse management by improving the quality of data-driven decision making. IoT enabled warehouse systems ensure a continuous flow of real-time information on inventory levels and location. Also known as Smart warehouse systems, these are the result of the various interconnected warehousing technologies working together. They form a technological ecosystem where goods are received, identified, sorted, organized, and pulled for shipment automatically. For example, the tagging of units, filtering them and then tracking their progress while being shipping can be automated.
Payment Verification with Blockchain: Blockchain is essentially a distributed ledger that stores data in an encrypted, nigh immutable format. Though originally designed for cryptocurrencies, it is being applied to IoT applications in the logistics industry. As a result, the time in delivering goods is drastically reduced by eliminating most of the verification blockers. It provides a transparent system where every stakeholder can view the same piece of information. Moreover, it disallows modifications to prevent attempts of manipulating the record. Hence no unauthorized member can tamper the data.
Surveillance: The mobilization of goods through trucks and ships may take days and weeks to reach the destination. It is essential for the managers to ensure that the temperature of the container remains reasonable. Besides, it will be necessary for them to maintain surveillance of vehicles in real-time and remain engaged with drivers. Such details are shared by IoT devices in real-time in addition to predictive analytics. For example, the number of miles a truck traveled and the corresponding consumption of fuel.
The world is evolving fast and competition is getting higher. It is highly recommended for logistics businesses in Florida as well as the rest of the United States to contact an IoT application development company at the earliest.