Innovation: How IoT will revolutionize supply chain businesses

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Innovation

By Juliet Umeh

How to keep track of assets has always been a challenge for Asset Management Industry. This is as knowing where things are at any given time can be critical to transforming business operations. It can reduce risk, save money, improve efficiency, and drive new service revenue.

For instance, containers keep missing all over the world and it usually takes months to find them in the cases where they are ever found.

However, technology experts are of the opinion that a combination of mobile computing, analytics, and cloud services, all of which are fuelled by the Internet of Things, IoT, is changing how delivery and asset management companies are conducting their operations.

Interestingly, experts say Asset tracking is one of the fastest-growing industrial IoT markets today.

It is estimated to worth $3.93 Billion by 2023.

Also, Delivery company DHL and tech giant Cisco estimated in 2015 that IoT technologies such as asset tracking solutions could have an impact of…



Source: Vanguard Newspaper