Tech Topic 2: Internet of Things (IoT)
Supply chains depend on diverse process elements: from factory output, to warehouse inventory figures, to the availability of shipping containers and other transport. The Internet of Things (IoT) is a network of interconnected devices and sensors that collect information and make it available regardless of location, for example, a warehouse that can independently report its fill rate. In the global supply chain, the Internet of Things helps companies to set up transparent and efficient processes and to detect blockages at an early stage. 9 The APAC region leads the world in IoT growth at 17% year-on-year. 10 According to a recent study, about 39% of the companies surveyed are already using these technologies, mostly for real-time location
tracking and monitoring warehouse conditions. The take up of IoT technologies is expected to increase with the roll-out of 5G networks, and as businesses understand the company-wide optimisation opportunities of predictive maintenance, runtime prediction or new business models like “Products-as-a Service”. With the rapid global adoption of the 5G standard, devices are becoming smarter and offering a wider range of international business applications. As with any emerging technology, a partner who has experience in managing global IoT networks will smooth the introduction across your business locations and help you master the complexity.
9 The Internet of Things: Application for Businesses 10 Supply Chain Europe Virtual 2021
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