The complex nature of the supply chain in an era booming with digital data means a barrage of processes and systems to manage at all times, but it also means that numerous opportunities exist to improve efficiency and service for customers.
Real-time monitoring solutions and Internet of Things (IoT) technologies can identify more problems in cold chains than incumbent systems, but a strong business case exists only for high-value products like vaccines or clinical samples, and commodities that suffer high loss rates, according to Lux Research.
Currently, containers, ships and other intermodal transport assets such as chassis and gensets are mainly what we call "dark, dumb and disconnected." What this means is that we really don't know much about them. They are not self-aware, we can't see them, and they can't tell us about their actions and status.
The "last mile" is a telecom term for delivering telephone, cable or internet services to the customer's location. With the most connections to make, it's the bottleneck of the system. It's also the most expensive and difficult to upgrade.
The discrete manufacturing industry is entering a new era. Major technological advancements have inspired innovations right through the supply chain, from robotics to 3D printing, automation to autonomous cars. This has exponentially expanded the choices available to consumers, both in the range and selection of products and sellers, but also in their ability to dictate when and where they purchase and receive their goods. The customer is now in charge.
Behind the scenes of the world's leading industrial products companies, a profound digital transformation is now underway. The industrial manufacturing sector is no exception. Companies are digitizing essential functions within their internal vertical value chain, as well as with their horizontal partners along the supply chain. In addition, they are enhancing their product portfolio with digital functionalities and introducing innovative, data-based services.
Seventy-eight percent of UK vendors expect the Internet of Things to have a significant impact on their ability to gather customer insights data across the supply chain. Many go so far as to say that it will also change the way they think and operate as an organisation.
Traditional Lean and Six Sigma practices are insufficient to address the complexities of modern industrial manufacturing, and companies are turning to "smart operations," which use pervasive data collection, advanced analytics, technology investments and deeper collaboration with partners to prepare their value streams for the next industrial revolution.
The latest news, analysis, trends and solutions for big data, blockchain and the internet of things (IoT) and their impact on supply chain management. Big data describes the large volume of data that inundates a business on a day-to-day basis and can be analyzed for strategic business insights. IoT is the means that collects and sends data from a range of “things” — anything from watches to fridges to cars — that are connected to the internet with sensors or computer chips. Learn how companies around the world are using big data, blockchain and IoT for supply chain optimization and competitive advantage.
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