IOT
“ For a well-functioning supply chain , across multiple levels , you must collect , integrate and analyse data to provide a single view of the supply chain ”
BJORN ANDERSSON SENIOR DIRECTOR , GLOBAL IOT , HITACHI VANTARA
Supported by IoT , this pivot is made a lot easier as organisations try to build resilient and flexible processes . Adding to this , Beamonte Arbués provides an example : “ Leveraging IoT correctly allows organisations to develop a resilient , dynamic approach to inventory forecasting . This involves combining data intelligence with pattern analysis , which , over time , allows accurate forecasting of stock demands . More importantly , it provides insights that can aid necessary interventions in the event of faulty operations or unexpected , external pressures and demands , such as those caused by the aftermath of COVID-19 or the war in Ukraine .”
Additionally , the data collected by IoT sensors combined with advanced data analytics and AI helps build a clearer picture of the entire supply chain .
“ Once that data is analysed , you can start applying it to look ahead . In practice , that can be playing out the ‘ what-if ’ scenarios to see the knock-on impact of a disruption at a specific point in the supply chain . This helps identify the critical areas of a given supply chain . Once that has been mapped out , organisations can develop their back-up plans for when a disruption occurs ,” explains Andersson .
He concludes : “ When a crisis erupts , like a border closure for example , the company able to respond quickest will see the greatest benefit . It could be as simple as having a contract in place that allows transport to be routed around that location . But that contract can only be foreseen through the use of IoT data in the earlier stages of contingency planning .”
aimagazine . com 79