Latest Tech Trends and Benefits of IoT in Logistics- An Insight
Application of internet of things (IoT) in logistics allows to integrate all the processes, data, people, devices & sensors and create a centralized intelligence system. This deeper intelligence helps extensively including in supply chain data, automation of the manufacturing process, providing visibility within the warehouse.
Logistics involves large number of shipments which need to be traced, moved and stowed using multiple machines & vehicles every day. Internet of things helps to connect multiple assets and track each movement along the supply chain. These functions help to provide customized, dynamic and automated services to customers at all levels.
According to Infoholic Research , worldwide IoT in Logistics market is expected to touch $1,050.95 billion by 2022. That is something really big and speaks volumes the way Logistic may change with times to come.
Current industry trends that is driving IoT adoption across the logistics industries:
Trend #1: Warehouse operations made easy with IoT
IoT helps to optimally utilize all the available space to ensure specific goods will be retrieved and delivered to the right departments. It uses data captured from wireless devices like product volume and dimensions which eliminates the manual counting and volume scanning of pallets. IoT also helps in optimizing asset utilization by connecting machinery and vehicles to a central system to monitor all the assets in real time and provides alerts regarding over-utilized & idle asset.
Trend #2: Freight Transportation IoT opportunity
Freight transportation presents great potential for IoT networks as there are multiple ocean, air, and road assets. IoT helps logistic companies to gain clear visibility on the movement of goods and monitor all the movements which ensures that goods arrive in time and place. Monitoring using IoT in Logistic provides visibility and security alongside all the transit processes using telematics sensors & sensor tags help to transmit data on location and monitor packaging of goods is intact and theft proof.
Trend #3: Customer delivery assurance and acknowledgement
IoT helps connect logistics companies with the end customers using sensors that are placed inside the box which detect whether the box is empty and transmits a signal which is then processed in real time. This assists the delivery person to skip that box for collection and optimize daily collection routes. Once the goods are delivered then an alert is sent to the recipient’s phone and reminds them to check their mailbox while in some cases, helps them to keep a track of their deliverables.
Benefits of using IoT in logistics industry:
- Aids in detecting risks:
Acoustic and visual sensors are deployed in the rail tracks and are connected to a centralized alarm system which constantly monitors and issues warning upon detecting any anomaly and can help avoid accidents. Sensors help to develop radar system for forklifts processes which helps avoid collisions. It further helps to identify uneven loads on pallets which occur because of incorrect uploading.
- Freight safety:
Smart sensors are used to fully monitor freight across the transit time and region. The sensors are equipped to monitor and detect changes in temperature or any possibility of breach in the freight container. It sends alarm to the concerned department to take immediate action in case the freight is in danger.
- Greater visibility of in-transit carriers:
Cloud based GPS & RFID systems are providing logistics carriers key location stats which were otherwise impossible to gather. Logistic companies are deploying cloud based GPS & RFID systems to get location statistics which helps to create an agile supply chain which can deliver greater control and help predict the time of deliver and schedule.
- Predictive asset lifecycle management:
Logistic companies are deploying sensors to the key assets areas which helps to take preventive measures in maintenance and repairs of vehicles & machines. The sensors help to keep a track of the material damage which occurs with time and automatically informs regarding the ideal time for maintenance and repairs.
Internet of things has given new perspective to the logistics industry. It is remodeling the supply chain functions using real time data and has made it more secured and efficient. It is become one of the primary technology solutions deployed to reduce the delivery periods, making the final delivery to customer more efficient.
Fore more details on IoT in Logistic market scenario, click here.