How is it possible?
The majority of companies are linking their Internet of Things (IoT) to Data Analytics applications, embedded in Artificial Intelligence (AI), Machine Learning (ML), Robotics and more, to give rise to a Super-Intelligent Supply Chain.
The factory of the future will function as IoT-driven networks, with near-real-time data and visualisation on the location, status and environment of assets. Companies will be able to optimise how assets are used and to help maximise Return on Investment (RoI).
The advantages of deploying a Super-intelligent Supply Chain:
To reshape the approach in which enterprises operate their networks of suppliers and business partners.
Partners and customers can gain more profound insights into the makeup of products built and purchased.
To improve the capabilities of supply chains and enhance manufacturing operations.
To provide greater transparency across the SC, centring company’ IoT efforts on warehousing and Logistics.
To leverage organisations’ IoT capabilities to support more intelligent logistics and routing.
Enables companies to spot awkward product issues and eliminate deficiencies.
Artificial Intelligence, employed in video data, can be placed in warehouses, shipping centres and retail outlets.
Companies can automatically meet potential bottlenecks before they even occur.
Automatically takes measures to ensure products are in customers’ hands when and where needed.
To efficiently meet the requirements of consumer demand.
Most companies are integrating AI and ML systems to their IoT and combining it with advanced analytical algorithms. Moreover, almost half of these organisations have embarked on implementing Visual Analytics to some extent, as including visual data for better insights brings the possibility to evaluate and agree on the best course of action.
Now, sensors and smart cameras are embedded in the raw material, production machines, Logistics facilities, vehicles, and the product itself. Furthermore, location, status, speed, and timetable of shipment can be tracked as well, whether they are within the establishment, in the networks, or at the customer location. However, as incredible as it sounds, in many companies most data generated through IoT devices are not available to their intelligent systems.
So, for an effective integration to a Super-Intelligent Supply Chain, you require the full participation of partners and vendors, the access of 3P firms or through remote devices data, on the other hand, securing permissions to access to this data is difficult. However, firms express that many of their partners do not have the technology/equipment to participate in the IoT. Therefore, a great effort has to be done to convince partners to sign on to their IoT networks.
CONCLUSION: Working even more closely with Supply partners and other providers will help to rise to a Super-Intelligent Supply Chain that could turn into a reality in the future. The goal is to gather a more significant number of participants in this journey. Improving operating environments and assets, as well as more graphics transparency into your Supply Chain, will bring a variety of useful benefits worth the effort. Take the necessary steps and don’t just stop to watch your competitor multiplying their profits.