Cerasis, a transportation management company, provided this guest post. We feel The IoT will enable us and our Flash Global customers many improvements within the spare and service parts supply chain. The emerging technologies such as The IoT maximizes vertical integration of systems and prevents problems before they occur. Our focus is empowering our customers with the best supply chain technology through higher visibility, stream-lined processes, and collaboration with strategic thinking for profitability and higher customer satisfaction.
How The IoT will Change Logistics and Supply Chain
The IoT has changed, is changing, and will continue to change the world, especially supply chain processes. (IoT) increases supply chain visibility for goods in transit and to all supply chain data. With everything connected, will we even participate in supply chain and logistics in the future? We surely hope the era of strategy for transportation management is at hand.
One of the greatest benefits of the IoT is its ability to rapidly collect and analyze data, although, analyzed data collection is useless by itself. The real benefit of data collection occurs when the resulting analysis makes a recommendation for how to improve the supply chain processes. Software in the IoT is the driving force behind data analysis and recommendations, and it could be likened to the creation of AI. The system will automatically determine what is occurring, what trends are becoming prevalent, and how the respective company can improve the outcome. This may be involved in order fulfillment, shipping of merchandise to customers, tracking merchandise sent from consumers in reverse logistics processes, collecting debts, or enacting a change in the environmental-manufacturing conditions to improve workflow.
Are you watching The IoT to see how logistics will be affected? We certainly are here at Cerasis, and we found this great list and video of 10 things you should know about The IoTtoday from The Digitalist Magazine.
10 Things Logistics and Supply Chain Managers Should Know about The IoT
Many senior leaders know that The Internet of Things (IoT) is becoming a hot-button issue for the C-suite but wonder if implementing IoT-based technology provides a worthy ROI. However, if they risk being left behind they may lose their customers to competitors. Gartner found that 64% of large enterprises plan to implement big data projects. Unfortunately, 85% will be unsuccessful.
Where Should All the Data Go?
The affordable computing power of the cloud allows analysis of extremely big data sets for studying business trends, patterns, and associations but during the America’ SAP Users Group (ASUG) IoT webcast “Operationalizing IoT Data for Predictive Analytics, Dave Roberts observed that much complexity in the IoT is from unequal standards for technologies emerging in the IoT space. “There’s Thread, AllJoyn, Open Internet Consortium (OIC), IEEE, Industrial Internet Consortium (IIC), and more promoting varied standards for sensors and assets communication with routers and gateways,” he explained. As a result, firms are spending collecting, shaping, cleansing, timestamping, and backfilling – 50%–80% of their development time just prepping their data . Some hire –“data engineers” just to prep the raw numbers so data scientists can create factual answers for major reporting from the data.
10 keys to Operationalizing the Internet of Things for Manufacturing Firms
Why are so many still firms failing to realize the benefits? Dave Roberts provides a Top Ten list every firm should know about successfully operationalizing the IoT.
- The value of the IoT is not technology. The real value lies in the creation of new value propositions and potential revenue streams. According to leading analysts, the growth potential is significant. Gartner forecasts IoT install base growth of 26 billion units by 2020. IDC believes the IoT market will hit $7.1 trillion in revenue by 2020. Plus Cisco predicts the IoT is soon to become a $19 trillion market.
- IoT data means more accessible SCADA data. SCADA data is no longer locked within a process control network and tough to amend. With IoT, SCADA data is quickly accessible and is revolutionizing company models, allowing firms to enhance services in real time.
- Think outside your industry. Powerful cyber security tools, or those developed for clickstream analysis, genome sequencing, or fraud detection will help our industry as well.
- Repeatability by way of Standardization. The more comparable assets are in your organization, the better your forecasts will be. Machine learning is helped by similar data and avoids misconstrued data and other inefficiencies.
- IT and OT are converging – time to deal with it. Data engineering can take significant time and resources. But don’t stop your IoT initiatives. Instrumentation and controls engineers from the world of operational technology (OT) will have to bridge the gap between the IT and analytics camps.
- Sensors will wear out. Wear and tear and battery failure of cheap sensors mean 100% reliable operation, 100% of the time is unrealistic. You’ll need to establish a sensor quality-control process to confirm sensors are fully operational and still delivering correct data.
- Your data hinges on your sensors. Analytics predictions reliability of is only as good as the data fed in by working sensors. You may need to validate the sensor data before reporting or analysis to get crucial answers.
- Data needs context. Get real-time, time-series data in context to make a forecasting model to distill the best possible decisions. With pervasive monitoring, this information is captured and delivered for business intelligence analysis.
- The IoT brings a tsunami of data. IoT rollouts of cheap, distributed sensors – bring in massive data quickly. Be sure your infrastructure ready to support it!
- Don’t forget what powers the IoT. Actionable data and integration are key for IoT data collection and analysis. Invest and maintain the technologies, expertise, and processes that support integration, reporting, decision making, and action for your firm.
With the benefits of IoT integration for existing processes becoming clearer, more businesses and organizations will work towards expanding today’s IoT capabilities. By using these 10 keys to success, the future of the IoT in your business will become more efficient, effective, productive, sustainable, and commonly-used than it is today.
How do you plan to use The IoT for your manufacturing company? Add your comments below!