The Internet of Things (IoT) is responsible for linking almost every aspect of the logistics industry. By using IoT devices, logistics companies are able to receive real-time information, meet customer needs quickly, and improve their overall supply chain. Evidently, the utilization of IoT Real Time Location Systems (RTLS) has proven to be a well developed trend for the future of the logistics industry. Below are a few key IoT topics that logistics companies must be aware of as they continue to implement solutions throughout 2022 and beyond.
Tracking Returnable Assets
Unfortunately, 10% of company assets are misplaced each year. For most companies this can be absolutely devastating because the total amount of assets lost could add up to millions of dollars per year. Implementing a real-time tracking strategy allows companies to keep track of their assets in real-time and become more sustainable.
Better Utilization Assets
Once a company grows large enough, the number of assets can become overwhelming. It becomes difficult to know for sure that everything is utilized correctly. For business owners, it is essential to implement the proper utilization of their assets because it allows them to see exactly where their assets are currently being used. Better utilization of assets means that your company is more efficient with each dollar spent. By implementing an asset tracking system, your company can better understand some of its strengths and weaknesses.
Preventing Production Line Shutdowns
The consequences that come with a production line shutdown can have a huge impact on your company's productivity, and can cause heavy losses. Three ways to help prevent production lines from shutting down are:
- Developing a strong maintenance strategy
- Hiring personnel that are trained to operate low-voltage switchboards
- Keeping those switchboards up to date
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- Loss Prevention. Reduce the amount of loss that occurs during the supply chain process
- Location Coverage. AirFinder Everywhere uses a combination of GPS, Cellular, and WiFi to determine location everywhere
- Security Alerts. Know when a delay in shipment has occurred so the problem
can be addressed immediately.
Retailer Shifting to a Lower Stock
In the past, it was extremely popular for companies to showcase the biggest and the best products at their physical brick and mortar locations. Today, retailers are shifting towards the idea of presenting their higher quality product on the internet instead. This is the case due to the fact that the majority of the world has access to the worldwide web at the click of the button. One can also see that the shift can benefit companies in the area of loss prevention, theft, and excess work for employees. Therefore, companies are trending to keep a lower stock of inventory in their stores.
Through the availability of omnichannel tracking, businesses have the ability to ship their items from any location. This type of tracking also provides companies with the ability to track customer interactions and customer data across multiple channels. This can be extremely useful for the innovation of the logistics industry and numerous different types of industries in need of asset tracking.
Proof of Delivery
Another trend that logistics companies are facing is the need for proof of delivery. Proof of delivery is a delivery receipt that relieves your company from the unawareness of if your assets have been delivered properly and on time. The receipt that your company will receive, confirms that another company has received the correct goods. The receipt can also be used when a company wants to return an item, or report a problem with the item. With asset tracking, proof of delivery can become more automated.
Every business should have the desire to look for more ways to improve their employee efficiency. Many activities take place throughout the day at a warehouse, and it is important to make sure that your employees are being as efficient as possible. One problem regarding efficiency is that during certain seasons companies need extra employees, but by the time they have trained them, they don’t need them anymore. As bad as it sounds, people are assets as well. Providing a system to track their movements could potentially explain why some employees are more efficient than others.
How Can Link Labs Help?
At Link Labs, we strive to assist all types of industries with their IoT needs. We pride ourselves in our ability to serve a variety of different industries including the logistics industry. If you would like to learn more about how Link Labs can benefit your logistics company, please refer here or book a demo today.