The Internet of Things (IoT) is set to disrupt industry over the coming years. The creation of new operating models, greater data collection and analysis to improve understanding of business environments and automation of tasks are some of the key drivers for adoption. Entopy’s focus is on the supply chain and how the use of sensors, software and analytics can be used to optimise this business-critical function. We see multiple areas that can benefit but have listed four of the most prominent below:
Avoiding supply chain waste
There are staggering figures associated with avoidable waste within supply chains. In the UK alone, £1.9bn of food waste was avoidable in 2017. Tracking and condition monitoring can help to alert operators when issues arise and the use of current and historical data can help to prevent loss altogether.
Automated stock transfer
Sensors can be attached to roll cages and other supply chain handling units making them ‘smart’. Entopy’s Tracca solution enables the sensor to be linked to the cage and inventory to be uploaded to the ‘virtual cage inventory’ within the cloud. When the cage arrives at store, the inventory can be automatically uploaded to the store stock file. The industry average for misdirected DU’s is around 3%. That’s a 3% impact to store stock file accuracy.
How much does your business spend on equipment each year? How much of this is down to business growth and therefore, higher supply chain throughput? How much of this is down to poor asset utilisation? Stores keeping hold of supply chain handling units such as cages and using them as extra ‘racking’. Poor equipment distribution across the network meaning equipment is in the wrong places at the wrong times? Tracking and monitoring supply chain handling units will enable businesses to optimise equipment use and reduce overall equipment spend.
When was the last time you can recall a supplier or customer dispute regarding the receipt or payment of shipments? By enabling greater transparency of goods and assets within supply chains between suppliers and stakeholders, huge cost savings can be made and business relationships improved and protected.