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15 Improvements by the Deployment of the Internet of Things in the Supply Chain

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ThelistofrelevantapplicationsoftheInternetofThings(http://cerasis.com/2015/02/25/internetofthings/)(IoT)eratechnologyacrossmultipleindustries
andmarketsegmentscontinuestogrow.Currentandfutureapplicationshavethepotentialtoprovidenewmethodsofvaluecreationandsourcesof
revenuestreamsforcompaniesinthedigitalage.Forsupplychains,thisadvancingtechnologyenablesthebuildingofaframeworkinwhichrapid
responsesandsolutionsinanincreasinglyintricatenetworkcanbedesignedandimplementedquicklyandeasily.Thisadvancementisbasedonthe
potentialtointegraterelevantdataatanypointinthevaluechain,defineinterdependenciesfromthedataalmostinstantaneously,andutilizeadvanced
analyticstodevelophighlytargetedsolutions.

11 Improvements by the Deployment of the Internet of Things in the Supply Chain

Thus,intheglobalsupplychain,exploitingtheopportunitypresentedbyIoTtechnologycanimprove:
1. revenuegrowth,

2. assetutilization,
3. wastereduction,
4. customerservice,
5. profitability,
6. sustainability,
7. security,
8. riskmitigation,
9. workingcapitaldeployment,
10. agilityand
11. equipmentuptime.
Formanybusinesses,thismeanspartneringwithathirdpartylogisticsserviceprovider(3PL)suchasFlashGlobalthathasalreadyintegratedevolving
technologyintoitsholistic,comprehensivelogisticsservices.
FlashGlobalembracesIoTtechnologyasaninterconnected,intelligentnetworkthatcombinestogethermanytiersofcontractmanufacturers,suppliers,
serviceproviders,customersanddistributors,regardlessoftheirgeographicallocation.Datacreated,processedandanalyzedbystrategicallydistributed
devicesandsystemsinthechainsignificantlyreducesvisibilitygapsandintroducestremendousflexibilityintotheproductionchain.DeploymentofIoT
technologywithinthechainhassignificantpotentialtodriveadvancementin:
Evolvingsolutionssupporttosimulation.
Predictivecapabilitiesandmodelingtoreducecosts.
Improveservicelevels.
Improvequalitylevelsinrealtime.
Smartdevicesandsystemswithembeddedintelligencecanmakecriticaldecisionsandadjustmentsinresponsetocomplexscenarios,andthisinturn
enablesmanagerstofocusonimprovingglobalcapabilitiesthroughbetterorchestrationwithinthenetwork.Currently,businessprocessesthatusestatic
datastructuresandanalysiswillneedtoadaptinordertomaintainthecompetitiveedgeandpursuenewvaluecreation.IoTdevicesandsystemshave
theabilityforcontinuousmonitoringthatcansenseconstraintsandproduceintelligentresponsesalmostinstantlywiththeguidanceofanintelligent
networkorautonomoussystem.Thisleadstogreateropportunitiesforcrossenterpriseandcrossindustryprocessinnovationandoptimization,which
contemporaneouslydrivescostcontainmentwhiledecreasingtimetomarket.

Ability for Decision Making in the IoT Supply Chain

ThedecisionmakingcapacityofsmartdeviceswithinanIoTenablednetworkalsoaffectstheoverallsupplychainstructure.Traditionalsupplychain
tasksinprocurement,planning,logisticsandsuppliermanagementwouldbestreamlinedbyintelligent,datadrivensystemsinacollaborative
multienterpriseenvironment.Whilelogisticsmanagersmayneedtoacquireanenhancedskillset,theirprimaryfunctionswouldbefocusedondesigning
capabilityandnetworkoptimization,interenterprisecollaboration,disruptionandriskmitigation,andsupplychainorchestrationinanefforttoexploit
competitiveadvantagesanddifferentiation.
Havingthecapabilitytotrackraworfinishedmaterialsandtheassociatedfeaturessuchascount,typeandgeographicaldatawithIoTtechnologythrough
anentirelifecyclefromatiernsuppliertothefinalconsumerwillhaveapositiveinfluenceoninventorymanagement,sourcingstrategiesandlogistics
costs.Forinstance,whenasuppliercannotdeliverontime,thateventcouldtriggeranautomaticsearchforanalternatesupplierwithintheinterconnected
intelligentsystem.Thiswouldensurenodisruptionintheproductionschedule,customerserviceorrevenuestream.Anotherexamplemightbeasituation
inwhichproductionconstraintsmightdelaydeliveryofrawmaterialsby3daystoaproprietarysupplier.TheIoTenabledsystemwouldsensethe
upcomingdelayandmakeadjustmentstothematerialdeliveryscheduletoincludeothersuppliers.Thosesupplierswouldhavetheopportunitytoroute
therawmaterialtootherclients,thusenhancingtherevenuestreamandworkingcapitalforthenetwork.Theproductionsitewouldobtainautomaticdata
regardingthedelayinrawmaterial,anditcouldadjustproductionandmachineschedulesforoptimization.Rawmaterialandfixedassetutilizationwould
beenhancedasassetdemandandavailabilityarematchedmoreconsistently.Moreover,supplychainriskmitigationwouldimprovethroughthe
continuousmonitoringofsupplystatus,anddisruptionswouldreceivearesponseinrealtime.
Inaddition,thecapabilitytosensedemandforfinishedproductbyusingembeddedintelligentdeviceswillenablethesupplychaintoautomaticallymatch
availablefinishedproductacrossmultipledistributionfacilitieswithsaleschannelsindicatingcurrentdemand.Ifnoinventoryiscurrentlyavailable,the
systemcancheckrawmaterialavailabilityandmanufacturingcapacity,leadingittosendanautomaticproductiontriggertotheappropriatesite.This

continuous,seamlessmatchingofsupplyanddemandwillpositivelyaffectprofitability,revenueandcustomerservice,whileconcurrentlyoptimizingthe
inventoryoffinishedgoods.Moreover,areasofthesupplychainsuchassparepartsandmaintenancewouldseesignificantstreamliningand
improvements,andrealtimemonitoringofmachinesandequipmentwoulddrivepredictivemaintenanceschedulesandminimizemachinedowntimes.
Thus,asstandardsandtechnologyadvance,IoTdevicesandsystemsprovideacriticalcompetitiveedgethroughlinkingactuators,sensors,embedded
intelligence,advancedanalytics,systemsandpeople.Supplychainsthatembracethistechnologywilldifferentiatethemselveseasilyandquicklyfrom
therestofthecrowd.ContactFlashGlobaltoday(http://flashglobal.com/contactus/)toconnectwiththelatestembeddedintelligenceavailableinany
network.
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