FREMONT, CA: The traditional complexities in the supply chain have bugged the manufacturers for several years. With the wave of technological uprising setting ashore on every sector, it remains an essential factor to demolish the age-old methodology in order to stay on high ground. To simplify the difficulties, organizations and enterprises have invested in the Internet of Things (IoT) to handle the vulnerabilities related to supply chain. Implementation of artificial intelligence (AI) and IoT technology in the supply chain is a necessity to carry out efficient and continuous production processes. Application of IoT has enhanced inventory management, elevated product revenues, and transformed logistics in a business supply chain.
Utilization of IoT in supply chains has opened contemporary sets of limitless possibilities. A company's ability to predict and predetermine the interest of the customer gives an edge over its competitors in an aggressive market. Embedded IoT sensors in physical devices or wearable products can generate a huge amount of consumer data. The analysis of acquired data produces usage patterns and behavioral demands of consumers. The insights presented by fabricating IoT data help organizations to create a personalized product following the desire of buyers.
The traceability of embedded sensors guides a business to track products in every stage of the assembly process. Based on the monitored data by manufacturers, the management decides the threshold value for the product. IoT sensors can track the critical conditions necessary for product development and enhance the quality of the manufacturing outputs. Fresh edibles like fruits and vegetables require a specific controlled environment for its growth and integration of inventory IoT sensors check not only the health of food products but also manipulate the sensitive environmental conditions. The regulatory powers of IoT device channels information to the automated machinery for decreasing the damage and lowering the assembly waste.
Product lifecycle management is the foundation of sustainable supply chain management. Traditional wear and tear testing methodology proved to be inefficient and costly when it came to multiple stakeholders. However, the substitution of the obsolete process with the updated IoT technology will determine the stock based on the geographical suitability and also enhance the reverse logistic.