Internet of Things (IOT) has become popular in all industries .Uses of IOT and its benefits have been eye-appealing in industry and commerce. Along with many other sectors of the economy, the revolutionary effect of digitalization is having an intense effect on logistic industry as well. IOT application will introduce different promising concept and design for innovation in supply chain and logistics. The IOT in Logistics with greater accuracy of execution can be achieved with minimal efforts and new possible roles will be opened for logistics operators to produces the goods with less cost. The IOT will have greater impact on various areas such as operational efficiency, safety and security, customer experience, and new business models in logistics. This paper mainly focused on the topic application and benefits of IOT on logistics industry. Moreover, this paper will describe the application and efficiency gains in the IOT applications. Finally, we will conclude this paper with next steps and future works planned for IOT to become a reality.
KEYWORDS: IOT, Fleet Management, Warehouse Management, Asset Tracking
Internet of Things (IOT) has become popular in any industry. Uses of IOT and its benefits have prominent in industry and commerce. Many possibilities and innovations can be realized with the help of deep intelligence provided for the logistics industry and its customers. In the field of freight transportation and logistics, the real-time data access and visibility is a crucial component to achieving great productivity and improve efficiency of a company. Many companies have already recognized the importance of different technologies and back office anchoring solutions, but the processes and operations are still challenging due to the uncertain nature of the different costs and rates in the industry. The IOT give sufficient visibility to track the company’s supply chain, results to improve the operational efficiency which produces the products with less costs. IOT application will introduce different promising concept and design for innovation in supply chain and logistics in the industry. The logistics processes with greater accuracy of execution can be achieved with nominal efforts and new possible roles will be opened for logistics operators. These advancements are quickly making its way in the logistics, and it completely improves the different business operations.
2. MEANING IOT AND LOGISTICS:
The Internet of Things refers to a physical tool or gadget that offers smart characteristics through connectivity, resulting in greater monitoring system, optimization, control, and automation.
Logistics is generally refers to the detailed organization and implementation of a complex operation. In a general business concept, logistics is the management of the flow of things between the point of origin and the point of consumption in order to meet requirements of customers or corporations. The logistics of physical items usually includes the integration of information flow, materials handling, Production, packaging, inventory, warehousing and often security
3. APPLICATION OF IOT IN LOGISTICS:
The IOT having revolutionary impact on logistic industry. The operations of logistic industry, their delivery and fulfillment are changing intensely, with combination of analytics, mobile computing, and cloud services, all of which are powered by the Internet of Things.
APPLICATION IF IOT IN LOGISTICS
3.1. REAL-TIME TRACKING
The Internet of Things has a huge potential to keep almost everything connected (e.g., assets, trucks, etc.) using embedded sensors, it provides unparalleled visibility into personnel, operations, equipment, and transactions. With the right IOT solution in place, companies can connect all assets across a centralized cloud network, and capture critical data to make sure everything is in order. As it facilitates assets tracking and remote fleet management, companies can dramatically ensure compliance, improve performance and ability, and reduce risk.
3.2. PREDICTIVE ASSET MAINTENANCE
In Predictive Asset Maintenance, the mobile technologies provide businesses line of sight into equipment, inventory and business processes. This asset intelligence allows organizations to increase their competence and capacity by providing them real-time data across their entire supply chain.
Though these types of solutions the transportation and logistics businesses make improvements over the years, leveraging them with enabling technologies like the IOT can give even more asset intelligence, leading to more informed decisions.