IoT Transforming the Supply Chain Landscape

The modern trade and commerce have proliferated to another level with increasing globalisation. Managing supply chains is integral to the success of business enterprises. Supply chain management plays an important role in the success of a business venture. So what exactly is supply chain management? Let’s delve deeper into the subject to understand the intricacies of the supply chain management process.

Understanding Supply Chain Management

The supply chain management process can be understood as a technique to manage the flow of goods and services. It entails all processes related to the transformation of raw materials into final products. The importance of supply chain management has been growing recently as it helps to boost the competitiveness of the firm. In addition to this, it also indirectly influences customer satisfaction quotient. Effective supply chain management helps companies to deliver the products quickly and cheaply.

IoT & Supply Chain Management

The digital world demands better and quicker services. With the growth of e-commerce, customers are now more accustomed to buying things online and expect their goods to arrive quickly. Real-time supply chain data gathering and analysis help organisations to accurately assess and track inventory movements. Let’s explore the benefits of applying IoT based supply chain management.

• Customer Insights
  IoT has proven to be a game-changer when it comes to gathering customer insights and pairing it up with demand forecast. Companies can have access to a lot of valuable customer information from the data stored on the cloud. This will help them to transform
• Fuel Cost Management
  IoTs have an interesting approach when it comes to managing fuel cost. It can help companies to figure out the traffic patterns, temperature, etc. during a particular time of the day and help companies manage their delivery transportation accordingly. In addition to this, the GPS devices installed on the vehicle can help to figure out the best delivery routes.
• Fuel Cost Management
  IoTs have an interesting approach when it comes to managing fuel cost. It can help companies to figure out the traffic patterns, temperature, etc. during a particular time of the day and help companies manage their delivery transportation accordingly. In addition to this, the GPS devices installed on the vehicle can help to figure out the best delivery routes.

Conclusion

The article aims to edify the reader on the use and importance of IoT in the supply chain management process. It also educates the reader on the basics of supply chain management and what it entails.