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How IoT is Enhancing Supply Chain Management

By CIOReview | Wednesday, May 22, 2019

FREMONT, CA: Economic activities are becoming global. Most industries today have a presence that spans at least a couple of countries. Alongside, the supply chains are also becoming more extensive and more complex. Monitoring such could have become a headache for the companies if not for the advent of technologies like the Internet of Things. IoT can significantly influence the way industries function and reduce the burden of managing an ever-multiplying network of supply chains.   

A supply chain that is powered by IoT does the job of connecting each point in the supply chain, from the producer to the consumer, with the help of a series of internet-enabled devices that provide real-time access to information. Stating it simply, tracking becomes hassle-free. The management can keep unnecessary delays and bottlenecks in the supply chain in check. The condition in which the goods companies transport goods is also subject to monitoring. If optimal conditions are not present, the businesses can control the same by making changes remotely. The changes do not always have to be under manual control either. With IoT, producers can opt for automated regulation of conditions based on external factors.

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Uninterrupted operations require a smooth flow of materials and constant monitoring of stocks. IoT enabled modern supply chains to have the power to check the inventory and report about it. The same ensures that the companies replenish and halt inventories as per requirements. When the stocks reach a specific level, the smart supply chain triggers notifications so concerned personnel can take actions. Numerous devices and equipment form a part in any production process. Maintaining these machines at their best performance ensures efficiency. Any breakdown of equipment hinders the progress of the chain. Automatic detection and fast action to fix the issues prevent losses as well. 

Keeping a tab on the availability of products is simplified due to the usage of smart supply chains. At every level, sensors detect the status of the stock, and in case of a sellout, they send notifications to the previous set of suppliers in the chain to replenish the products. By using IoT technologies, the level of synchronization attained by the businesses is remarkable. The companies exercise control as a consequence of which communication, handling of resources, and optimizing the complete chain is made possible.