How data from IoT devices is changing supply chain analytics

Industrial Internet of Things (IIoT):devices that enable data collection from more interaction points, factory automation, shipment tracking via GPS and machine-to-machine (M2M) and machine-to-people (M2P) communications Artificial intelligence (AI) and machine learning (ML): to automate decisions to produce, store, order and so on Wireless sensor networks (WSNs): to record environmental changes and enable transmission of this data among IoT devices and between IoT and the cloud 5G: for better network connectivity spread across large geographic regions Big data: enables advanced analytics and better outcomes Let’s see how all these technologies come together to fast-track supply chain innovations, improve product distribution and shipping, and help businesses set and meet customer expectations. Using such devices, you can instantly set up secure, automated logging and monitoring for thousands of products from a centralized ERP or supply chain management system. Better forecasting of demand, supply and sales Shipment and fleet tracking Better risk management and fewer disruptions Less waste, damage or shrinkage of inventory Increased visibility and transparency for all parties involved – data transmission, recording and reporting takes place using readily available cloud-based infrastructure and networks Instant decision making and control along the whole process – companies can decide whether to destroy something, proceed with delivery or send it back at any point All this is possible only when companies are able to use the data generated by the monitoring system.