Top 5 Things to Know About IoT
The Internet of Things is still in its infancy, and can be confusing to supply chain and logistics managers. Greg Braun, senior vice president of sales and marketing for Montreal-based logistics IT company C3 Solutions, shares some advice.
1. IoT technologies promise vastly improved visibility into supply chain operations. The ready availability of connected devices and things means that you can have visibility—and control—anytime and anywhere you need it. From the dock to the yard to last-mile delivery, with the right IoT tech, you can see it all.
2. IoT is not just for real-time operations. Tracking and visibility are on everyone's mind, but another big potential benefit of IoT-enabled supply chain operations is the ability to use the collected data for predictive analysis. If data from formerly siloed supply chain processes could be brought together through the magic of IoT technology, supply chain optimization may be within reach.
3. If you implement IoT to track your supply chain operations, be prepared for the flood of data. Before it inundates you plan how you will store and use the data you collect to benchmark and improve operational metrics. There is vast potential here, but only if you know where to look.
4. Don't overlook security concerns. If you contemplate using connected devices, security needs to be as important as the application that uses the data they collect. As quickly as apps are developed, someone is trying to compromise them. IoT security needs to be a top-level concern for companies planning to use it.
5. There is both potential and peril in the future of IoT technology. Estimates have it about 10 years away from maturity, meaning managers should approach with caution. Early adoption will have its benefits, but it won't come without some risk.