IoT Supply Chain Monitoring
According to Statista, in 2020, the worldwide market for supply chain management was assessed at 15.85 billion U.S. dollars, and it is projected to nearly double, reaching approximately 31 billion U.S. dollars by the year 2026. IoT solutions provide transparency and precision across various aspects of the supply chain. This includes suppliers monitoring the condition of raw materials, manufacturers detecting and addressing production bottlenecks, logistics operators optimizing delivery routes, and retailers enhancing inventory visibility and store management.
The relevance of IoT to Supply Chain Management is further supported by the data 1NCE can track through our customers' requests and the increasing prevalence of industrial IoT use cases, which currently stands at 9%.
Top Supply Management Vendors
The vendors of hardware for supply management operations include the market players from all over the globe, such as:
Vendor | Location | Website |
SkyBitz | United States | |
AIUT (Automation & Industrial IoT) | Poland | |
ISA | Global | |
Sensile Technologies | Switzerland | |
Varec | United States | |
Dunraven Systems | United Kingdom | |
ATEK Access Technologies | United States | |
Powelectrics | United Kingdom | |
SilentSoft | Global | |
Geoforce | United States |
Note: The list makes no claim to completeness.
Specific IoT Applications
Supply chain performance monitoring implies to asset tracking, route optimization, environmental monitoring, and more applications:
Application | Description |
Real-time monitoring and tracking of assets and inventory throughout the supply chain, improving visibility and reducing the risk of loss or theft. | |
Predictive Maintenance | Utilizing IoT sensors to predict when equipment and machinery require maintenance, reducing downtime and extending the lifespan of assets. |
Cold Chain Monitoring | Monitoring and maintaining temperature and humidity conditions during the transport of perishable goods to ensure their quality and safety. |
Inventory Management | Automating inventory tracking, providing real-time data on stock levels, and helping to optimize stock levels and reduce carrying costs. |
Route Optimization | Optimizing transportation routes based on real-time data, minimizing fuel consumption, delivery times, and costs. |
Demand Forecasting | Using IoT data to improve accuracy in predicting customer demand, reducing overstock or understock situations. |
Quality Control | Monitoring and ensuring product quality throughout the supply chain, reducing the risk of defects and recalls. |
Environmental Monitoring | Tracking and reporting on environmental conditions such as emissions, helping companies comply with regulations and implement sustainable practices. |
Warehouse Automation | Using IoT devices like drones and robots to automate warehouse tasks, increasing efficiency and reducing labor costs. |
Supplier Performance Tracking | Monitoring and evaluating the performance of suppliers based on real-time data, allowing for better supplier management and risk assessment. |
Explore more in Industrial Automation and Customer Insights.
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