Amidst an environment of increasingly global and complex supply chains, organizations must collaborate closely with customers, suppliers and partners to achieve real-time visibility across every part of the supply chain. The Internet of Things offers the potential to develop new capabilities to revolutionize supply chains. 70% of enterprises are using IoT data to improve the customer experience, and 56% are using it to improve safety.1
Globally, firms can derive $1.3T –$2T a year in economic value from using artificial intelligence (AI) in supply chains and manufacturing.2 But boosting your bottom line isn’t the only benefit of these technologies. Embedding AI into your supply chain, on top of traditional analytics coupled with the Internet of Things (IoT), can speed time to market, decrease production costs and boost operational efficiency. But do you know how to fully leverage these disruptive technologies to build an intelligent supply chain—from design to delivery?
With the Industrial Internet of Things Platform in OpenText Business Network 20.2, OpenText has developed a range of three IoT-driven track and trace solutions that allow organizations to build and leverage their digital visibility capabilities:
With the entry-level Shipment Track, companies can use IoT-driven track and trace to connect shipment and assets throughout the supply chain. All shipment and product movements can be monitored in real time. Data from sensors and other IoT devices can be augmented with other supply chain data, such as warehouse and transactional information, to provide more granular visibility.
Building upon Shipment Track, Shipment Monitor delivers condition-based monitoring to supply chain operations. Every aspect affecting goods in transit can be monitored in real time, including temperature, humidity, location and product condition, so that immediate corrective action can be taken if an exception of aberrant conditions is reported. This provides much greater control of the shipment of perishable and high-value goods with high levels of transparency and supply chain efficiency, while reducing the waste and damage of products in the supply chain.
The most complex solution, Shipment Insights, combines IoT data management with AI and machine learning to bring end-to-end visibility and continuous improvement to all parts of the supply chain. Moving beyond simple track and trace, this holistic solution uses the captured data to apply predictive and prescriptive analytics to areas, such as supply chain planning, route optimization and predictive maintenance.
The three inter-related solutions have been designed to enable a smooth and effective transition to complete, end-to-end supply chain visibility.
OpenText’s portfolio of IoT-driven track and trace solutions provides a solid foundation for organizations to continue their digital transformation towards a completely autonomous supply chain. It allows companies to put in place the building blocks to digitally monitor and manage their supply chain and logically add capabilities when required to drive business agility, flexibility and innovation.
IDC has stated that IoT is a game changer in the supply chain3. It is changing the way that companies manage inventory, address overall supply chain visibility, and enable responsiveness.
Download this white paper to learn how disruptive technologies, such as the Internet of Things (IoT), enable intelligent and connected supply chains. From simple track and trace solutions that record and report shipment location data to shipment monitoring, where the environmental (temperature, vibration or humidity) IoT-sourced data are giving realtime insights and creating real-world benefits.
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- Forbes, Roundup of Internet of Things Forecasts, 2017
- The Economist, “In algorithms we trust How AI is spreading throughout the supply chain,” 2018
- IDC, Digital Transformation Drives Supply Chain Restructuring Imperative, 2019