Harnessing the power of IoT in logistics management

There are many aspects to logistics management including supply chain management, warehousing, transportation, etc. that can be affected and influenced by many factors. The fast paced and evolving world of logistics has created new levels of complexity, where organizations face many challenges. The Internet of Things in the logistics field has enabled innovation in the logistics industry with its potential in telemetry and monitoring, and implementation of such transformative technologies can streamline the processes within this industry. 

The logistics sector is made up of four different sections that enable them to track delivery vehicles remotely and ensure timely delivery of the shipments. These four aspects of logistics are communication systems, vehicle tracking, supply chain monitoring, and security. 

In this article, we will focus on the role and applications of Internet of Things in logistics management.

•Real time monitoring and tracking: The Internet of Things (IoT) allows organizations to track and monitor its vehicles, shipments and assets throughout the course of the supply chain. Integration of IoT devices like RFID tags, sensors and GPS trackers in vehicles and warehouses allows businesses to gain complete and unparalleled visibility into the working, location and condition of assets and shipments. The IoT devices can collect consistent and extensive data along various parameters that can be transmitted and accessed using mobile or web-based applications, allowing the stakeholders to monitor movement of goods, and make informed decisions in case of any disruptions. The real time monitoring and tracking of assets can be used to allocate resources effectively, schedule deliveries precisely, and optimize route planning. It can also help identify any potential bottlenecks or delays that can be proactively resolved to ensure continuous operations.

•Inventory management: Inventory management is critical and crucial for smooth functioning of logistic processes, and IoT can play an important role in achieving this objective. IoT sensors and devices can ensure that businesses can track inventory in real time that gives accurate and up-to-date inventory information. The data is seamlessly and consistently transmitted over to a centralized database that can be accessed by the stakeholders, globally, translating into optimizing inventory levels and supply chain operations. IoT enables companies to optimize operations, minimize human error and enhance efficiency within the supply chain operations. IoT automation and its insights ensure proactive decision making, enables optimal stock levels and streamlines the logistics processes. 

•Optimizing route planning: Route planning is essential to achieve cost savings and maximize operational efficiency. By collecting real time data on every aspect of logistics operations, that includes vehicle location, traffic conditions, weather updates, etc. enables optimized route planning. IoT sensors and devices collect real time data continuously from various critical aspects of logistics that include vehicle locations, traffic conditions, weather updates and even the condition of the goods transported. These IoT sensors also connect seamlessly with other software systems such as fleet management software, inventory management software, and provide a complete view of the logistics supply chain. 

•Predictive maintenance: Predictive maintenance is another significant advantage that IoT integration provides to the logistics industry. Predictive analytics results in reduced downtime for vehicles and other assets, and can prevent equipment failure, optimize maintenance and minimize expensive unplanned downtime. Predictive maintenance also reduces unplanned downtime, which can lead to loss in revenue, increased maintenance expenses and delayed deliveries. Since predictive maintenance can help ensure that the equipment remains in running condition, it reduces the risk of accidents and other potential hazards. 

•Increased safety measures: IoT can offer significant safety measures and security in the logistics industry. IoT sensors and devices can be used to monitor and report on all aspects of the supply chain, enabling detection of potential threats in real time. IoT devices equipped with GPS technology provide precise geolocation tracking of assets, and offers operators visibility into the asset whereabouts, essentially eliminating unplanned detours or unexpected stops that can prompt security and safety issues. 

•Improved customer experience: IoT implementation in logistics offers many advantages directly to the customer. It enables customers to track orders in real time, by getting precise information about the location and delivery schedules of their orders. IoT enables access to comprehensive details regarding time, location and expected arrival. This type of increased visibility removes the uncertainties and concerns about shipment whereabouts and increases reliability and trust. Real time tracking also ensures that any issues that crop up can be proactively resolved. This approach effectively manages customer expectations, reduces friction and ensures a near seamless customer experience.

The role of IoT in logistics in terms of real time monitoring and tracking cannot be denied. A supply chain management software company can be the right guide for logistics companies who wish to start a transformative journey using this innovative IoT technology. The future of IoT in logistics holds a lot of promise as the technology advances and offers better ways for real time tracking, monitoring and analytics.