One of he biggest gainers in the ongoing digital age is the supply-chain and logistics industry. The ability to track and verify goods was seen as a competitive advantage, but now this and much more is possible thanks to the use of the Internet-of-Things (IoT). It has managed to integrate technologies such as Artificial Intelligence (AI), machine learning and business analytics. This is how factories of the future too will look like. Instead of manufacturing plants, they will have IoT-driven networks. The Forbes Insights survey was conducted over 700 executives to find out the application of IoT to business, and an overwhelming percentage of them responded positively. IoT integration brings some major advantages to businesses such as improving in product development through analysis of the huge chunks of data. The quality of the product too improves as one has better insights on what has failed or won’t work. Inventory replenishment is another such area thanks to the specific business intelligence being procured from these data-backed networks. The same networks will also aid in maintenance through predictive analytics.

Source:https://www.forbes.com/sites/insights-inteliot/2018/09/14/cover-your-assets-the-rise-of-the-super-intelligent-supply-chain/#50173d099858

Uploaded Date:16 October 2018