You already know that IoT (Internet of Things) is a term that identifies items that have enough intelligence and communication abilities to send messages across the internet. Kevin Ashton supposedly coined the phrase "Internet of Things" while working for Procter & Gamble in 1999.
Software analytics let retailers track usage, monitor changes, determine reorders and calculate when and how much to reorder, and check inventory levels on an item-by-item basis. Control of inventory begins right at the cash register: the point-of-sale (POS). Now, inventory records are always up-to-date. This allows better decisions about ordering and merchandising.
“Cloud computing is Web-based processing, whereby shared resources, software, and information are provided to computers and other devices (such as smart phones) on demand over the Internet”. WOW! An on-demand, cloud computing model for EDI/B2B, removes the limitations of IT budgets, IT staffing, EDI expertise and EDI systems. It is a pay-as-you-need-it concept. It takes the system from the in-house business and makes it just a hook-up, not another IT project.