How the Internet of Things (IoT) is Changing the Future of the Supply Chain [Infographic]
The Internet of Things (IoT), while still in its infancy, is already changing the way industries are doing business. In fact, a comprehensive IoT statistics from Medium states that the B2B IoT market will make over $300 Billion yearly by 2020, which includes $85B of the industrial sector.
Organizations expect that IoT technologies will help them refine their customer experience (70%) and enable safety (56%). Furthermore, attaining cost efficiencies, enhancing organizational abilities, and last but not definitely not the least – gaining supply chain visibility (53%) are the three most common uses of data that is generated and gathered using IoT technologies.
Supply chain management, although often overlooked by the general public, is a business aspect that IoT will make the most significant impact, according to many industry experts. In fact, some IoT technologies have been in place for some time, such as commercial telematics now being used in trucking fleets to improve logistics efficiency. Other cutting-edge applications – like sensors attached to industrial uniforms to monitor personnel safety and health – are just being tested nowadays.
Read on as we discuss in this infographic the different supply chain management use cases that have been enabled by the IoT.