The Internet of Things (IoT) is changing many things in our lives. It is changing how we look at or do everything, from managing our homes to looking after our health through wearable devices. However, the supply chain sector seems to be the biggest gainer with the advancement of this technology. Thanks to IoT, companies in the supply chain sector can now do many things better, including tracking products in the supply chain from the manufacturing plant to store shelves. As one of the players in this sector, the right IoT implementations can substantially improve your supply chain performance. Here are some benefits of IoT in the supply chain.

Companies in the supply chain sector worldwide are increasingly investing in modern technologies like AI and IoT to enhance performance. This has even been increased by the pandemic that has made in-person operations nearly impossible. These digital solutions have allowed businesses to capture and use their data and promote efficiency. Unlike the manual processes that can result in inefficiencies, errors and delays, using technology enhances productivity, visibility and accuracy. That is why supply chain companies are increasingly capitalizing on technology to make things work. With the Internet of Things (IoT), inventory management and asset tracking can be modernized, and transparency in operations can be improved. RAIN RFID is one such technology that can be adopted to solve inefficiency and human error issues.  Here are some ways you can use RAIN RFID technology in your supply chain to bridge the IoT gap.

 Supply chain is one of the industries that are fast evolving. The changes in this sector are occasioned by the rising demand for efficiency by the customers and the ever-increasing competition from new entrants and established players who invest in technology. The industry always evolves to meet the needs of the global demand and in return, get huge benefits. With the new year around the corner, we take a moment to look at the technologies that you may be ignoring in this industry, leading to losses.

 As the coronavirus pandemic has proven, a good supply chain is critical for operations in various industries. It helps companies achieve efficiency in things such as customer centricity, operational efficiency and compliance, all of which are necessary for success. If properly handled, the reputation of your company can significantly improve. With the changing business landscape, what worked yesteryears are no longer effective. Some of the things that have changed include increased customer expectations, fluctuating demands, increased competition and globalization, all of which have tested the players in the supply chain industry to their limits. The simple solution to this challenge is the adoption new strategies, one of which include cloud computing. Here are the reasons why you should migrate your supply chain to the cloud.

• It has become hard for the on-premise supply chains to cope with today’s needs

The increased competition in business has accelerated the need for the adoption of new strategies to cope with the emerging customer needs. Some of the demands include faster delivery of goods, transparency in the supply chain and the challenge of new entrants. With so many things to consider in the market, lack of agility and scalability can only make things worse. With the on-premise supply chain management, you can incur unnecessary expenses not to mention lack of flexibility that is necessary to respond to customer needs appropriately. With cloud computing, the supply chain rigidity, that is known to hinder growth, will be avoided while visibility will be ensured. You will also run away from the costs of maintenance and upgrades while focusing on innovation.

• Integration

Unlike on-site supply chains, cloud computing enables integration. It is allows sharing, input and output of data and lets teams and individuals to work on projects across the organizations. Accordingly, cloud computing solutions enable data to be sourced from one cloud to the other. This gives supply chain professionals the opportunity to work with robust platforms that have advanced capabilities. Through various standardized protocols, multiple platforms can work together. These platforms also build higher trust and transparency among those who use the cloud.

• Scalability

For supply chains that operate at a global stage and need to ensure communication channels are open and collaboration is enhanced, accessibility of datasets requires unmatched scalability. Cloud computing allows these companies to keep multiple networks of individuals and organizations under one cloud defying geographical boundaries. With just an internet connection, storage, communication and sharing of files can be done fast and efficiently. You may need such scalability for enhanced operational procurement and purchasing teams. Within a short time, supply chain managers can extend their services to a global marketplace. As such, there is room for growth and more advanced capabilities. With cloud-based analytics, your business can isolate their main inefficiencies in the order fulfillment process, that will boost your growth. 

• Enhanced security

The importance of data in supply chain data cannot be matched. Therefore, when your data is hosted in the cloud, you must be confident that it will remain secure. This can only be achieved by investing heavily in security features such as regular updates, encryption and scanning. Unlike the on-site storage, cloud service providers have advanced logical and physical security features that are good for your business.

• Ease of use

The cloud-based supply chain can be deployed fast and allows you to outsource many activities such as management, maintenance and purchase of necessities. This means that the time that you could have spent in managing different aspects of the on-site storage can be used in innovation. Moreover, there are other benefits of adopting the cloud such as simplification of user activities, fast and quick access and the possibility of using it in collaboration with other tools.