Internet of Things (IoT) is facilitating more physical objects to connect to the internet and exchange data with minimal human intervention. IoT is generating disruption, and according to a research, by the end of 2019, nearly one-third of the top ten market leaders in almost every industry will experience this disruption. The implications are enormous when it comes to asset-intensive industries such as logistics and transportation, aviation, and manufacturing.
For long, these asset-intensive industries have been dealing with numerous challenges related to product location in the warehouse, delayed product deliveries, inventory thefts & loss, poor condition of delivery, etc. Real-time tracking & locating valuable assets is a pain point for all the large organizations, especially when the asset is in-transit. They typically rely on manual entries to correctly register the position, check-ins and check-outs events. Such manual registrations are intermittent and subject to human errors. Ineffective management of such processes increases the operational expense and reduces profitability.
Digital technologies like TrackRover’s Asset Tracking solution driven by the Internet of Things (IoT) is changing the way companies track assets in logistics & supply chain sector. With the use of Bluetooth Low Energy (BLE) beacon for indoor asset tracking, we empower users to locate the assets within premises in real-time accurately. BLE is low power, high range, and can achieve 1-2 meter accuracy, making it an excellent option for certain use cases and indoor environments. These BLE beacons communicate with the gateways to pass on the required data. Once the asset is in-transit, the mobile phone app acts as a gateway to pass on the real-time data. The real-time visibility and data-driven insights provided by TrackRover’s IoT-connected sensors and systems enable companies to increase efficiency, reduce operational costs, perform predictive maintenance to prevent downtime, and even cut energy consumption or minimize negative environmental impacts. This is a flexible and customized solution to track your assets, without making any significant process or structural changes, which saves both your money and time.
According to Globe News, the application of IoT devices and asset tracking solutions account for over $2.5 trillion of economic value in the global supply chain & logistics domain. The transformational potential for the IoT in these industries is undeniable. With the increasing pressure within the logistics & supply chain industry to meet two-day, overnight or even same-day service commitments, the IoT is a critical component in helping companies meet the demands of today’s fast-paced, global economy.
Let us summarize how Asset Tracking solution is revolutionizing the Logistic & Supply Chain Industry-