IoT & Edge Technology: Transforming the Global Supply Chain
Edge Computing is a quite literal name for this technology, as it aptly describes the part of the work that happens right at the edge of the network where IoT connects the physical world to the Cloud. Edge Computing is much more than having computation and data processing on IoT devices, and it’s one of the key areas of our involvement (next to legacy systems and new technologies) that we proactively convert into actionable insights for more strategic decision-making, new efficiencies, and higher levels of service.
By 2020, Gartner predicts that more than half of major new business processes will incorporate some element of IoT. They also anticipate that up to 26 billion internet-connected ‘smart’ devices will be installed, probably generating around $300 billion by the end of the decade. This wave of increase of internet-connected physical devices will “significantly alter how the supply chain operates,” affirms Gartner.
How edge helps
Visibility and uncertainty within supply chain management processes has always been the big challenge to tackle, especially with so many players involved being more and more dispersed globally:
- Order fulfillment can be delayed by a number of factors which are difficult to predict or control.
- Traffic delays are a common cause of late deliveries and stock shortages.
- By making use of sensor-enabled IoT solutions, the location and speed of vehicles can be tracked at all times, allowing for proper information sharing with all parties involved, and maintenance alerts can be given if needed.
An Edge Computing application puts into play the power of IoT devices to filter, pre-process or score IoT data. It leverages the flexibility of Cloud services to run analytics on the derived data and, in turn, make intelligence-supported decisions and actions that correspond to the actual physical status of the operation.
Smart devices to the rescue
In today’s hyper-connected world where customers expect real-time information every step of the way, smart devices can really make all the difference in their ability to closely monitor and deal with more variables. Temperature-tracking for food providers, real-time inventory, traffic, weather, etc. are just some of the many factors that can be taken into account accurately thanks to the interconnected devices and IoT. The global supply chain is at a pivotal point of transformation thanks to the existing technology and upcoming updates that will take all of these abilities even further.
As a business, your success and growth relies entirely on customer satisfaction and their loyalty to your company. IoT, cloud technology and edge devices can help you provide the best experience reliably, every single time. If you’d like more information to see how this component of the equation can be the difference maker for you and your company and you’re ready to see what intelligent connectivity can do for you, contact us.