The incorporation as well as deployment of latest technologies and innovative ideas in any industry gives it a much- needed boost in terms of its branding as well as productivity. Over the last few years, internet has grown as a great way of improving and personalizing the quality of service for almost all kinds of businesses and the same holds true for the logistics management sector as well. With the involvement of latest technologies and ideas that can benefit the logistics business in the long run, we are making way for better cargo management, shipment and delivery.
With time, the Internet of Things (IoT) technology has started to make its presence felt in the logistics industry as well. This is due to the reason that IoT helps in improving the quality of service and efficiency of the logistic companies, which in turn makes it feasible for them to emerge as the best in class service provider out of the lot. With people assuming the scope of Internet of Things technology to be limited to smart homes as well as smart cities only, it is a lesser known fact that the efficiency of logistics can be improved many folds with the help of IoT approach.
Scope of Internet of Things (IoT) in Logistics Industry
One of the crucial aspects of a shipping company is their ability to track everything and with the help of the Internet of Things technology, the tracking and functioning activities have been simplified to a very large extent. Increased efficiency, scope for new revenue- generating ideas as well as cost- effectiveness are some of the key benefits of Internet of Things in the logistics industry.
With more and more industries looking forward to inculcating data- driven technology in their working processes and structures, the transport and logistics industry seems to be a step ahead of its counterparts. As it is known with all the Transport and Logistics (T&L) companies, they largely provide their services through rail, road, air and sea and they also have well- connected distributed networks on which they can rely for the rapid transmission of information from one point of service to another. As a result of collaboration with the Internet of Things technology, these logistic companies can notice the effects of new connectivity peripherals as well as sensors, hence working towards bringing to life a world where transit is quick, simple and safe during all times.
Taking a closer look at how the Internet of Things technology is going to benefit the logistics companies, it is needless to say that it will diversify the transit options, assist in aviation freight as well as the secure and timely delivery of packages. Not only this, the real- time tracking of parcels, optimization of the warehouse capacities, route optimization, last- mile delivery and many more lucrative features like these are surely a great boon for the logistics management industry.
How Internet of Things will benefit Logistics Management?
Timely tracking of vehicles
There is a comprehensive fleet of trucks and similar commercial vehicles which the logistics companies have to deal with from time to time. Depending on the destination and the kind of shipment, there may be the need for the parcel to undergo road, ship, flight, etc. kinds of transport. This is exactly where IoT will come into action!! With the use of tracking devices and advanced GPS sensors, the movement of the shipment can be tracked by the logistics management department during each and every point of the transit. They can keep track of the vehicles to see if it is adhering to the suggested path and so on.
With the use of Internet of Things in Logistics, the companies managing the transport and transit department can save huge bucks on their overall expenditure. For instance, the congested routes can be avoided with the help of tracking GPS devices and sensors. This will help them in saving on the fuel costs and also reduce the cost incurred due to damage caused to the food items due to delayed delivery. Thus, delay elimination and reduction in the damage caused to the quality of cargo is yet another benefit of implementing the Internet of Things technology in logistics management.
Reduction in delivery hassles
IoT will make it possible for customer verification to be done through digital IDs instead of opting for the traditional methods of proving an individual’s identity. With the help of new and improved digital equipment, it will be easier for the customers to make payments as well.
Quick monitoring of inventory
Logistics companies will no longer have to rely on human observation as well as manpower for keeping track of their inventories. With the help of IoT technology, stocks can be tracked and refilled regularly without the need for 24×7 human observation.
The Internet of Things technology is a boon for the logistics management industry since it will benefit all the aspects of warehouse management, transit, delivery, etc. with utmost ease and efficiency.