Digital transformation is redefining operations and business management across industries and market segments. This is especially true with respect to the logistics industry that has been deploying conventional and obsolete technologies and operational procedures to execute its wide range of tasks.
Though the Internet Of Things (IoT) is on the rise today, a lot of companies are facing hurdles in terms of its implementation. On paper, IoT offers insane benefits to the logistics industry such as predictive equipment maintenance, forecasting supply-chain requirements, automated fleet management, returns management and more.
However, when it comes to implementing them, companies struggle in terms of tech stack, incorporating the right device at the right touch point, developing the most viable IoT infrastructure, choosing the right IoT architecture and more. Besides, the challenge also lies in educating the current talent pool and helping them upskill.
So, the trickle down effect of such colossal ambitions causes their implementations to be diluted to wasted efforts in most cases. With competitive edge, market dominance, profits and credibility on the cards, how can logistics companies and businesses ensure their IoT ambitions are highly efficient?
Well, this is exactly why we’re about to explore.
Start With One Device
Improper planning can cause your goals and investments to backfire. The implementation of IoT in market segments where stakes are high such as IoT in logistics, meticulous attention to details is required. That’s why experts and market leaders believe in the proven principle of starting with implementing just one device in an IoT ecosystem and then scaling up gradually.
Starting with one device also means that you will be working with dedicated IoT managed solutions providers who would take care of the scaling up process by carefully analyzing use cases, business specific needs, challenges and opportunities, budget, configuration and more and then help you achieve your IoT-related ambitions in your enterprise.
In an ecosystem like logistics, this is the most practical way to go about implementing IoT as this lets you confront the complexities and intricacies involved in forward and reverse logistics and helps you figure out seamless solutions to them almost instantaneously.
So, starting with one device is the preliminary step in IoT implementation with more weightage given to managed IoT solutions. Since, we are focusing on IoT in logistics now, what are the different aspects managed IoT solutions would take care of in this space?
Let’s find out.
Managed IoT Services And Forward Logistics
For the uninitiated, forward logistics refers to the management of the forward movement of raw materials and goods to ultimately reach consumers. It consists of all steps involved from procuring ingredients and raw materials to turning them into finished goods and transporting them to the market. When it comes to the implementation of IoT in forward logistics, a lot can be achieved by manufacturers and vendors.
Let’s look at how managed IoT services can impact forward logistics:
Forecasting And Estimation
Over and under-manufacturing can both lead to losses. At any given point of time, a company should have adequate knowledge and insights on market demands to precisely produce required volumes. While IoT can offer the required insights, it can also go a step ahead and tell stakeholders how much they need to manufacture for a specific time period in the future with predictive analytics.
For instance, if there’s a holiday or a festive season approaching and there has been a demand for your product the previous years, managed IoT solutions can tell you the exact volume of production you could approve this year.
Order Management
With multiple vendor collaborations, managing every single order could be a daunting task. That’s where IoT offers distinct modules to streamline all your orders and ensure all unique order requirements are met, delivery times are fulfilled and more.
Asset Management
IoT managed services is an end-to-end concept that provides holistic benefits. It not just focuses on manufacturing and delivering goods and services but ensures the health of your equipment is ideal for uninterrupted manufacturing as well. Asset management in this gives you insights on equipment wear and tear, humidity, temperature, waypoint deviation, maintenance scheduling and more.
IoT Fleet Management
When you have a massive fleet of logistics vehicles, managing them from a standpoint is tedious. When the entire ecosystem is IoT-backed, you can get real-time information on vehicle location, vehicle health, fuel consumption, estimated date and time of delivery and/or arrival and more.
Managed IoT Services And Reverse Logistics
Reverse logistics is the textbook opposite of forward logistics. In this, the transport or movement of goods and products is from the consumer side back to the manufacturer. The movement could stem from any reason such as recycling measures undertaken by the manufacturer as part of CSR protocols, return of damaged products, return of wrongly delivered products or specifications and more. If forward logistics is more based on demand, reverse logistics is based on supply. So, the cost incurred in this is significantly higher than the former unless the transportation of goods is in bulk.
With IoT stepping into reverse logistics, several aspects can be optimized. Let’s look at what they are.
Returns Management
When IoT managed services are deployed by manufacturers, consumers have a significant advantage of sending back items and products directly to them without the need to have a 3rd party vendor or service provider in the loop. This means faster collection and dispatch of assets and returns.
End Of Life Management
Equipment or products offered on lease or contracts can be automatically serviced, sanitized, collected and transported back to the manufacturer as and when the contract period ends. This systematic process ensures that the decommissioning process is as seamless as the installation process ensuring timely deletion of data as well.
Managing OEM Warranty
This includes compiling information and insights on malfunctioning endpoints from fields, validating active warranties against consumer records, processing claims, troubleshooting and servicing assistance directly from manufacturers, redeployment of equipment or devices when ready and more.
Automated Assessments Of Goods
With an airtight IoT managed system, manufacturers don’t have to spend extra time validating claims on the delivery of damaged products or goods. Through smart tags and sensors, they can verify the right details and initiate instant pick up and timely re-delivery of right products to consumers.
Advance Exchange
Unplanned operational downtime in organizations due to malfunctioning devices can be mitigated with the help of advanced exchange services. With this, same-day delivery of equipment can be ensured through IoT systems so businesses can seamlessly keep their productivity at optimum levels at all times.
Wrapping Up
IoT is creating a colossal impact on the warehousing and logistics sector with its contributions and innovations. As IoT development services continue to evolve, managed solutions will become more niche and purpose-driven with more specific use cases and offerings.
Considering the rate at which innovations are happening in this space, we can safely assume that IoT is arriving as a game changer in satisfying ever-volatile consumer dynamics and helping companies arrive as credible market players in their respective industries.
Top comments (0)