Driving innovation to supply chain with IoT Internet of Things (IoT) is making real time visibility throughout the supply chain very achievable. It is hugely impacting the supply chains and provides insights into the business that help drive operational efficiencies. With IoT integration into the processes, companies can effectively respond to the unforeseen conditions. This is especially important given that supply chain success hinges on effectively sharing information and collaboration across a number of organizations where millions of sensors collect quality and performance data. IoT devices that track assets, raw materials and finished products provide timely data essential to critical supply chain functions such as logistics, environmental monitoring, warehouse management and materials requirement planning. One of the biggest beneficiaries of IoT solutions is supply chains and the processes involved in it. An IoT integrated supply chain is seen as an intelligent network that connects manufacturers, suppliers, distributors and customers that are physically located at different parts. Group50, a renowned supply chain consulting company pride itself on a long history of working with companies to maximize returns from their supply chains. In addition to developing and implementing supply chain strategies and organizational structures relevant to today’s business landscape, they help clients integrate their existing systems with the Internet of Things, Blockchain and Analytics to capture time critical data, securely save and share it across supply chain partners. This wealth of information can be utilized for better customer service, reduced costs and realizing new revenue opportunities. Ways in which your supply chain can benefit from Internet of Things:
Improved existing processes Being a transformational technology, it can bring incremental benefits to all the existing processes of supply chain such as warehouse space and asset utilization, production planning and so on. Unmatched transparency Transparency has an even greater importance in an age where customers expect to know the status and whereabouts of their product. It has become pivotal and with greater visibility, your supply chain is likely to function swiftly. Collaboration This technology provides a holistic view of the entire supply chain and real time data across different platforms. This increases collaboration between different stakeholders and allows for effective decision making. Smarter decisions eliminates all the bottlenecks and boost productivity. Strengthen customer service A well connected supply chain increases productivity and efficiency. Access to information for tracking the product in real time, forecasting delivery times, identifying bottlenecks; all these things help in providing better customer service. For making your organization stay abreast of all the technological changes, consult leading supply chain management consultants like Group50. They have expertise in business process design, transformation, organizational design and digital technology, coupled with their unique plug and play technology, positions them to be your partner in adopting and managing this transformative technology in a way that is both scalable and sustainable.
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