Internet of Things Powering the Growth of Logistics Industry

access_time January 30, 2019
by   TechmavenitAdmin
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Findings from an earlier study done by CISCO in 2015 reveal, that the count of 15 billion connected devices as on 2015 would rise to 50 billion by 2020. This, however, works out to a mere 3% of the potential number of devices which can be connected and included in to the connected – things network. The study clearly shows the immense growth potential of IoT. With the right IoT solution in place, enterprises can connect all devices across a centralized network and share the data to gain real- time visibility of their operations Though the deployment of IoT is spread across every segment of human activity, IoT adoption is becoming increasingly widespread in the logistics segment. A combination of mobile computing, analytics and cloud services which are all fuelled by IoT, is changing how logistics and fulfillment companies are conducting their operations. Let us now go through a few of the ways in which IoT implementation will benefit the logistics sector. Fleet Management An efficient fleet management process is critical in ensuring an overall successful performance by any logistics company. Successful fleet management would include managing maintenance schedules efficiently, optimum use of resources including vehicles, service routes, drivers etc and minimizing fleet downtime etc. With connected sensors providing every detail, enterprises can gain visibility in to their moving assets, communicate effortlessly with drivers, provide updates on weather conditions etc and thus better streamline the fleet management operations. Asset Tracking One of the major benefits of IoT implementation in logistics is the ability to track consignments. Asset tracking, as we all know is not a new phenomenon as freight and shipping companies had been using barcode scanners to track and manage their inventory since a long time. However, IoT helps find the exact geo location of the consignments and coordinate activities as when needed. The deployment of sensors at key areas of assets helps keep track of any damages or wear and tear. Monitoring of assets for damages and taking effective remedy helps freight companies manage assets successfully and enhance performance levels. Risk detection & better goods tracking Implementing Internet of things (IoT) in the logistics sector will greatly help in detecting risks and any mishaps that could likely happen in the usual business operational process. Union Pacific, the largest railroad network in USA is able to eliminate railroad derailment by deploying acoustic and visual sensors to the rail tracks and then monitoring it for any discrepancy. If any discrepancy has been found an alarm will sound at the centralized alarm system, helping engineers to set things right. Warehouses can keep track of all goods movement in a more efficient manner, avoid having goods lost in transit, and locate misplaced packets in a warehouse. Freight safety Freight theft is one of the major causes that lead to enormous loss for freight companies. It is against this backdrop that use of sensors such as the“Smartsensor”by DHL are becoming popular as they provide for full monitoring of the freight throughout the journey. The sensors employed are able to detect every unusual activity and help to keep 24-hour vigil o the freight being transported. Optimum use of assets The use of sensors and location – knowledge makes supply chain more efficient and provides companies with information on when a load will reach a certain destination and helps further coordinate with others when further onward movement is needed. These actionable insights, received as a result of the IoT inspired connected network, helps logistics companies enhance their performance levels and improve margins.

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