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Three Areas Where IoT Solutions Can Save Your Business Money

15 Sep
2017
IoT solutions

IoT solutions have taken the Internet from inside the computer and transmuted it to a tangible thing. If you’re working as a CEO or CTO in the IoT industry, you’re in a good place. But if you want to be the most successful one, you need to approach sales strategically.

The Internet of Things can turn a thermostat into a remote-controlled atmospheric system which can be activated or deactivated with the swipe of a screen on your smartphone. For residential applications, this totally and fundamentally changes things. When you expand possibilities from a housing solution to a corporate one, the possibilities are practically endless. These can save your clients tens of thousands— even millions— annually. Three areas of such savings will be primarily explored here:

  • Supply chain management solutions
  • Inventory and warehouse management
  • Fleet management

 

Supply Chain Management Solutions

IoT solutions are integral for modern supply chain management. The reason is twofold: on one hand, through IoT, costs can be curbed substantially; on the other, increased efficiency, as well as operational optimization, leads to increased marketplace competitiveness for clients. The way things are now, all businesses are going to be using IoT for their supply chain management solutions very soon. Many have made the switch and it’s getting to the point where getting involved with this form of management is becoming status quo. Soon, businesses will be on the back-end of that trend if they don’t upgrade.

The way IoT makes supply chain management more manageable is through analytics and asset tracking. While asset tracking has been around a while, IoT makes assets possible to track not just from one location to another, but as they are in transit. With analytics, clients can shave away operational percentage points by avoiding construction zones, areas of high traffic, redundant routes, and high-fuel routes. Sometimes, it’s more cost-effective to go the straight route; sometimes, you may want to go the long way for fuel conservation and construction avoidance. Also, with IoT, supply chains can be paused or re-routed in real time as conditions like the weather alter road conditions. Those are strong selling points.

Inventory and Warehouse Management

RFID tags can be passive or active, providing varying amounts of information on items they’ve been attached to. Here’s the difference between the two: a passive RFID tag doesn’t have its own power supply; it’s just got an antenna. An active one has its own battery power as well as, in certain cases, more sensors. Through satellite trackers, either option can be used to keep an eye on certain items during transit, though with the active RFID, you’re going to get more data.

Additional data can be used to streamline operations when it comes to managing assets in a warehouse. Sometimes certain items will become rotten over time— this is often true with fresh produce. Via IoT, prioritization can be given to certain items over others and maximum thresholds can be reached as necessary— these add profitability percentage points and represent good sales points for your IoT agency to hammer home.

Fleet Management

Like supply chain and inventory management, fleet management uses IoT to identify redundancy and safeguard shipments. GPS, as well as newer tracking tech, are brought to the table. Furthermore, all that data is available in real time. Supply chains are more often going to be “static”— they’re not going to change except should something very exceptional force them to. Fleets will generally be traveling along diverse routes. With real-time tracking solutions, up-to-the-minute information can be relayed to fleet managing personnel, allowing them to be the most productive. Real-time analytics is a big thing with IoT, and these days, it is possible through Big Data and the cloud to process terabytes of data instantaneously, meaning large companies can really save resources in areas like this.

Optimizing Operations

IoT solutions aren’t only for exceptionally large clients, though. Whether a company’s large or small, streamlining operations through remote access via IoT saves resources. Cloud computing, IoT, and edge computing are quickly coming to define a diversity of industries worldwide. Demonstrate potential advantages of such solutions to potential clients and see increased sales conversions.