1/18/2014 Logistics Business IT® Magazine | Industry Talk - How companies can exploit the Internet of Things http://www.logisticsbusinessit.com/tech/article.aspx?tid=7&aid=304 1/3 SOFTWARE & COMPUTING FOR MANUFACTURING & SUPPLY CHAIN Home Subscribe Events Whitepapers Videos Advertise Contacts The Magazine Digital Edition Features Subscribe Media Kit Events Guide Technology Planning (APS) Data Capture & Auto ID Demand planning / forecasting Manufacturing - ERP/MRP Mobile Computing Print & Label RFID Supply Chain Execution Supply Chain Management Transport Management Voice Technology Warehouse Management Materials Handling & Warehousing Vertical Aerospace Automotive Electrical / Electronics Food / Beverage Healthcare / Pharmaceutical Retail Industry Talk Logistics & Logistics IT Industry talks and Logistics Business IT listens. Read what the industry has to say about itself. Events Featuring events, shows and exhibitions from the Logistics and Logistics IT industry. White Papers The latest White Papers and Reports accross all logistics it systems and applications T he Internet of Things (IoT) has emerged as a keyphrase around the world this year for conscientious CIOs and executives. A termused to describe complete machine to machine (M2M) connectivity across the internet, formerly only evoked thoughts of The Matrix or Terminator films. However, with a report by Cisco that the IoT market will be worth $14.4 trillion by 2020, it represents a business opportunity that companies should be taking seriously. With the technology usable across virtually any industry sector, a report by McKinsey & Company recently stated that the manufacturing sector is likely to see the most benefits from the IoT. They went on to predict that we are about to enter the fourth industrial revolution. The industrial internet will see the world of manufacturing become more and more networked until everything is interlinked with everything else. In light of this, the IoT could add value to supply chain strategies not just in manufacturing, but in sectors such as retail as well. We are at the very early stages of understanding how the IoT will impact the enterprise, but from a supply chain management point of view, here are three initial areas where the IoT could impact global supply chains: • Pervasive Visibility – relates to the way in which shipments are tracked at every stage of their supply chain journey. The IoT not only provides ‘information everywhere,’ but will offer ‘visibility everywhere’ too. Radio-frequency identification (RFID) is one such technology that was introduced to provide this improved visibility. However, results have been mixed, and it has sometimes struggled to offer full end to end visibility across a supply chain. With the IoT, as more pieces of equipment, infrastructure and vehicles are connected to the internet, it means that thesetraditional ‘black spots’ or visibility gaps will begin to disappear. The IoT will also allow companies to have two way communications with their shipments at each stage of its journey across the supply chain. For example, a piece of equipment could be remotely contacted and instructed to go into an ‘installation mode’ before it is delivered. • Proactive Replenishment – efficient inventory management has always How companies can exploit the Internet of Things 18-Dec-2013 Mark Morley director of industry marketing for manufacturing GXS LogiMAT,Stuttgart 25 - 27, February 2014 MIPIM Logistics Property, Cannes 12 - 14, March 2014 MODEX 2014, Atlanta 17 - 20, March 2014 Load More Dock Scheduling and the Grocery Industry The Ultimate Decision Yard Management Systems Load More
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1/18/2014 Logistics Business IT® Magazine | Industry Talk - How companies can exploit the Internet of Things