Technologies changing the face of warehousing and logistics in 2020 and beyond
The urgency to increase delivery speed and satisfy increasing customer demand throughout the supply chain, coupled with the need to develop and retain competitive advantage is inspiring a number of technological advances.
With warehouses under pressure, we take a closer look at some of the technologies to watch out for in the next decade.
Internet of Things (IoT)
IoT is all around us. It’s already in our cars and home energy systems and now it is becoming one of the hottest topics in the supply chain. IoT is best described as a system of connected devices that allow the transfer of data over networks without the need for human input. It is not a new technology but is one that’s gaining mindshare and pace. By 2025, it is estimated that the installed base of IoT devices will grow to 75 billion by 20251 but how will IoT benefit warehouse management?
Many of the challenges we have already discussed have the potential to be eased or even resolved through successful implementation of IoT. However, many experts believe the primary benefit of having IoT-based smart warehouses will be reduced handling costs. Real-time tracking of goods and materials has the potential to be enhanced too, with connected devices and sensors helping to monitor the quantity and quality of goods by the second. This could be particularly advantageous in the food industry which suffers heavy losses due to spoilage.
Finally, with the help of machine learning and data analytics, the data collected by IoT devices could also be utilised to determine the optimal layout of the warehouse. Subtle changes to the location of items could considerably improve the time it takes to complete picking sequences and even reduce errors. The same data could also be used to improve the accuracy of stock forecasting, particularly in the e-commerce industry where there are seasonal peaks in goods-in and goods-out volumes. Better insights into these workload patterns could be used to alert managers about changes in demand so they are able to increase resources at the appropriate time.
Does this technology really have the potential to take off? The experts believe that the key to wider adoption of IoT relies on the successful roll out of 5G. Huge reductions in transfer speeds, latency and capacity along with a 90% reduction in
atista - https://www.statista.co
m/statistics/379046/worldwide-retail-e-commerce-sales/ 2. WWL - https://www.2wglobal.co
Solutions in WAREHOUSE & LOGISTICS RIDING THE IoT AND BIG DATA WAVE
According to a recent research study by Peerless Media commissioned by Honeywell, the transportation and logistics industry is poised to reap tremendous benefits from the IoT revolution.
power consumption are just some of the ambitions for 5G2
If these ambitions are reached and implementation costs for 5G-connected sensors become low enough then IoT certainly has the potential to completely revolutionise the way items are tracked throughout the supply chain.
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