The impact of IoT on Logistics

In this article, we will take an in-depth look at how IoT has impacted the logistics sector.

15:10 29 November 2021

Internet of Things (IoT) is a set of interlinked devices that can detect, report and transmit data. These devices include RFID chips or mobile sensors that connect to computer systems through networks such as Wi-Fi. Examples of data that can be monitored by IoT include location, humidity, temperature, and movement.

 

IoT has revolutionized operations in various industries. In logistics, it has shown its full potential in streamlining critical processes like forecasting, oversight and supply chain management. In this article, we will take an in-depth look at how this technology has impacted the logistics sector.

 

1. Inventory Management

Inventory Management refers to a systematic way of obtaining, storing, and selling raw materials or finished products. It ensures stock is available at the right amounts, at the right cost, and at the right time. Proper integration of IoT in inventory management increases the ability to implement stocking activities in real-time.

 

Apart from that, IoT enables businesses to maintain balancing of the market's supply and demand. It achieves this by monitoring daily inventory levels and alerting if the stock decreases below the requisite thresholds. Furthermore, IoT can also be programmed to automatically forecast the future inventory needs of a business.

 

2. Real-time transport tracking

One of the main impacts of IoT in logistics and supply chains is transport tracing and tracking. With this technology, businesses are able to monitor in real-time the exact location of their shipments and assets. This allows for better responsiveness as well as decision-making in changing environments.

 

An example of assets that can be tracked with IoT is containers. Through sensors, it's possible to detect and report the precise location of container shipments. Another good example is the utilization of custom-built mobile apps to collect data on a truck driver's location throughout the day.

 

3. Cost forecasting

IoT through RFID-enabled devices has played a big role in cost forecasting. With this technology, companies can closely monitor their day-to-day activities in order to reduce high operation costs. For example, a company that moves its cargo by rail rather than the road can cut transportation costs since it will be sharing the expenses with other companies.

 

In addition to that, IoT can forecast operation costs based on things like fluctuations in diesel prices. In the past, achieving such milestones was beyond anyone’s control. However, with the help of IoT sensors and RFID devices, companies have the power firmly in their hands.

 

Conclusion

In the coming years, the use of IoT in the logistics sector will lead to tremendous developments. Fleet operators and managers will have greater access to remote data at their fingertips. They'll be able to use this data to mitigate human errors, reduce costs, automate logistics processes and boost supply chains productivity.

 

Moreover, IoT will also play a big role in cloud computing. Gambling sites like Platin Casino will be able to offer their services via the internet through cloud-based tools and applications. This in turn will allow players to enjoy an immersive experience when playing their favourite games.