The time when it was enough to just move goods from point A to point B, passed a long time ago. Because of high competition and multiple challenges, the focus is made on customers, meeting their needs and expectations. Now the top-priority objectives of logistics companies are to ensure just-in-time delivery, supply chain visibility, product lifecycle transparency and quality services. The success of any logistics company lies in efficient inventory management and warehousing, automation of internal business processes, fast delivery and taking care of safe storage and quality of goods. The accomplishment of 7Rs principles that include moving the right product – in the right quantity and condition, at the right time and at the right price – to the right place and the right customer.
Internet of Things (IOT)
Bringing with its smart connections and use cases, the Internet of Things (IoT) is about to revolutionize the logistics domain. Offering many advantages and opportunities, IoT-based solutions are becoming widely introduced in the sector. Supply chain monitoring, vehicle tracking, inventory management, safe transportation and automation of processes are the key to IoT applications and the principal components of connected logistics systems, as shown in the diagram below.