It’s Time To Turn The Latest Logistics Buzzwords Into Actionable Solutions
There has been a lot of talk in the logistics industry about big data and the Internet of Things (IoT), and there is no doubt that these concepts can provide a sea change of benefits. However, there seems to be a lot more talk than action when it comes to implementing these revolutionary solutions. Now that everyone can agree on the utility of these concepts, it’s time to take concrete steps toward implementing them.
Take the example of Big Data. It might be tempting to collect every piece of data that is available, but this is not going to solve anything if you don’t actually do anything with it. Focus on collecting the most relevant data and then use analytics to turn it into something actionable that can help boost efficiency and solve problems.
Huge Savings To Be Made
One company that is getting this right is Tesco, which collects data points from its refrigerators and then analyzes them to track performance and predict when their machines might need servicing. This has reduced their operational costs dramatically, with potential savings of as much as $30 million!
When it comes to IoT, there are a lot of opportunities just waited to be taken advantage of. For example, RFID technology with passive readers can be used to help keep track of cars in order to speed up operations and eliminate the time-consuming work of counting vehicles and verifying locations. Connected cars and drone technology other areas of incredible untapped potential.
They might be the latest industry buzz words, but Big Data and Internet of Things can provide a huge payoff if they are approached wisely. They can replace isolation with collaboration, slashing costs and giving the all-important bottom line a nice boost.