Shipment vehicles, such as trucks and ship vessels, are movable assets becoming an important part of the IoT network and leaving a long-term mark on the logistics and transportation industries.
Fremont, CA: IoT adoption is relatively high in asset-intensive industries such as manufacturing, transportation, and utilities. Whether stationary or mobile, these assets are now becoming a part of a connected ecosystem in which they can interact and share vital information.
Implementing IoT in the logistics industry can strengthen the constituents of these pillars and help the logistics industry grow by leaps and bounds. The following are some of the benefits that a traditional logistics company can gain from using the Internet of Things.
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1) Route and Location Management:
As a result, IoT-based location and route management solutions for the logistics industry are highly popular. A logistics manager can use this technology to track the whereabouts of their trucks in real-time. The route traveled by the trucks can also be watched from afar using GPS tracking systems and geofencing techniques. This also aids logistics organizations in tracking driver activity and ensuring on-time freight delivery.
2) Inventory Control and Warehousing
In logistics, the Internet of Things helps with fleet management and helps with storage, and inventory management. In addition, a logistics ecosystem allows a corporation to have complete transparency across all its operations, which aids in inventory management.
RFID tags and sensors make it simple for businesses to keep track of their inventory and their state and location. In other words, the Internet of Things enables creating a smart warehouse system that allows a corporation to avoid losses, assure secure storage of goods, and locate objects quickly. It also aids businesses in revamping their warehousing operations, resulting in lower labor costs and more efficiency due to reduced physical labor.
3) CBM and Breakdown Prevention:
Companies can identify trends connected to typical truck breakdown by measuring and evaluating data that describe the functioning of the trucks. Real-time alert systems can also get alerts about potential unanticipated faults that can be avoided with condition-based maintenance.
These IoT prediction applications will aid businesses in detecting flaws before they become disastrous. As a result, companies in the logistics industry will be able to improve their decision-making processes and develop effective inspection and repair methods. Furthermore, these proactive insights into their assets can aid businesses in reducing risks and downtime, resulting in smooth process execution and on-time delivery.
4) IoT and Blockchain for Digital BOL:
When IoT applications in the logistics industry are combined with Blockchain technology, a digital Bill of Lading (BOL) is created, bringing a whole new level of transparency to supply chains. This BOL allows a corporation and its customers to track the sent products throughout their transportation cycle.
The combination of these technologies has resulted in the establishment of smart contract solutions (BOL being one of its many parts) that allow for the monitoring of all stages of the items' journey from origin to final delivery in the hands of the client. Sensors and GPS trackers are also important components of this approach. During the shipment, both parties can monitor temperature, humidity, location, and other characteristics from remote places to ensure that everything is in order.
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