Deloitte has released a podcast with Digital Supply Chain leader Richard Bradley explaining the power of the Internet of Things (IoT), a technology that has the potential to revolutionize logistics and the supply chain.
Put simply, IoT connects devices and allows for the collection and transfer of vast amounts of data. For ports and terminals, it can mean greater efficiencies and a reduction in waste and the risk of cyber-attacks.
Throughout the supply chain it is being leveraged to increase visibility and ensure the quality of cargo being transported.
Hapag-Lloyd, the world’s fifth biggest carrier, unveiled a ‘Hapag-Lloyd LIVE’ in June 2019 in which IoT will be used to deliver enhanced logistics transparency, including GPS location, temperature and power usage.
In a recent exclusive insight for PTI, Real-Time Business Solutions (RBS) predicted that stakeholders will only increasingly look for ways to utilize the vast amounts of data at their disposal, which consequently make IoT grow in prominence.
Some studies suggest that IoT will connect 31 billion devices globally by 2020 and transportation and logistics companies will spend a combined US$40 billion on researching and applying it, such is its potential for harnessing big data.