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INTERNET OF THINGS
The Internet of Things (IoT) refers to a system of interrelated, internet-connected objects that are able to collect and transfer data over a wireless network without human intervention.
Today, businesses are motivated by IoT and the prospects of increasing revenue, reducing operating costs and improving efficiencies.
Industries we know well
Manufacturing / Industrial (IIoT):
The Internet of Things(IoT) has multitudes of applications in manufacturing plants.
It can facilitate and enhance the production flow in plants, as IoT devices automatically monitor development cycles, and manage warehouses as well as inventories. It is one of the reasons many companies have invested in the technology to increase throughput and maximise profitability.
The Industrial Internet of Things(IIoT) is different to your typical IoT solutions, as it consists of a network of intelligent devices integrated with existing instrumentation, which connects to form systems that monitor, collect, exchange and analyse data.
It has the ability to radically transform manufacturing. As the global market and industry dynamics push manufacturers to reconsider operations, smart manufacturing powered by IIoT-driven data analytics is essential. With more and more connected equipment/devices, data is sure to increase, which will lead to better actionable insights.
Modern Supply Chain Management:
Businesses can now place IoT sensors with a variety of components to help manage inventory and parcels movement more efficiently.
With an IoT inventory system, the supply levels of several critical elements can be monitored in real time to help inform business decisions and prevent shortages. The data from these systems can even be analysed to predict the future inventory needs of the business.
Along with improving inventory operations, IoT sensors can also be placed with products, so helping businesses to track the location and condition of items while they are in transit. This information can provide companies with a more accurate estimate of when shipments will get delivered and also help prevent issues associated with shipments arriving damaged, with improved traceability should claims arise.
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