Manufacturers are increasingly pursuing digital transformation to compete and win in the market place. As smart manufacturing will power manufacturers to reach new heights, the area of Industrial Internet of Things ( IoT) is becoming the game changer. The IoT has made it practicable for manufacturers to better monitor, collect and analyze data, and the industry has introduced smart manufacturing concepts and technologies to a plant or even a single production zone. IoT can streamline the entire supply chain from warehouse to the end customers.
No matter how solid the logistics network for a particular asset, it can be delayed at a warehouse, an asset will go missing altogether, or at some point, a truck will get stuck in traffic. With conventional supply, chain management logistics cannot arrive at a solution for these daunting challenges. These challenges may translate into lost productivity, delayed production and damaged client relationships if kept unresolved. As they travel along worldwide transportation routes, the logistics industry needs a solution to pinpoint the location of goods in real time.
Companies have been using sensors and networks to get information about the condition of assets previously. But they were individual, closed systems, not connected to IT and other operational systems. Today the cloud enables the storage and processing of large volume of data combined with analytics which allows companies to manage and extract useful information quickly and cost-effectively. The top areas in which businesses are deploying the IoT are in asset management and security. Using IoT Firms can locate high-value assets, monitor their condition and optimize their utilization to drive efficiency and secure the whole supply chain by responding to alerts in real time and proactively addressing threats protect their employees, products, consumers and ultimately the company reputation.
For the need to stay competitive in an age of evolving global consumer security expectations, companies will need to embrace integrated intelligence into products and processes. With the foundation laid by IoT, firms can establish connections to capture data from multiple resources in real time.