Imagine a world where your business saved thousands of dollars every year because it knew that delivering to Kununurra by truck between the hours of 11am and 3pm during mid-February was linked to a spike in cyclonic flood-related delays?
Or a world where you bolstered your profit margins because you knew that exactly 37 workers and precisely 11 vans was the most efficient combination of resources required to successfully distribute stock to your retailers?
Don’t worry – John Edward hasn’t cloned himself and formed an army of psychic logistics managers around the world. This is well within the realms of reality, and it’s all thanks to IoT and big data.
Let’s take a look at how these two technological advancements have the power to offer your business a level of real-time monitoring, tracking and predictive capabilities never seen before.
The Internet of Things (IoT)
IoT uses embedded sensors to interconnect ‘things’ through a common system. Boxes, pallets, containers, people – if a sensor can be attached, it can be used to generate information like location, temperature, motion and impact, both in real-time or recorded offline.
While the technology still has some hurdles to overcome, this scientific approach to risk and business management has the potential to transform how businesses operate and serve their customers:
- Instantaneously respond to incidents
- Understand why, when and how things happen
- Modify operational inefficiencies
- Reduce safety and security risks.
As more devices become interconnected, it makes sense that record volumes of data is being generated and collected, from routes to delivery times, price points and profit margins (sources say it’s doubling every two years).
However, rather than focusing on specific information like we have done in the past, big data analyses all data generated to detect patterns and make future predictions.
These exciting insights have the power to help businesses uncover new opportunities:
- Forecast demand with more accuracy
- Better understand customer buying cycles
- Estimate future warehouse capacities
- Eradicate hidden inefficiencies.
PrintDATA – advanced printing technologies of the future
At PrintDATA, we help solve your business problems by leveraging advanced, automated technologies like IoT and big data to offer unparalleled industrial marking and coding.
That’s what makes these future technologies so exciting. IoT will increase the amount, speed, and diversity of data your business can generate through interconnecting devices, sensors and systems, while big data will help you make sense of this data, envision possibilities and make strategic decisions.
By investing in these technologies with PrintDATA, you’ll be able to increase your supply chain efficiencies and exceed customer expectations. And that all adds up to one thing…
A BIG competitive advantage.
Want to find out more about how PrintDATA can help you use advanced technology to be a better business? Call us today on 08 9361 6777