Internet of Things ( IoT ) – Supply Chain
The Internet of Things ( IoT ) or the Internet of Everything ( IoE ) as we prefer to call it is making real time visibility throughout the supply chain very achievable. It is a critical part of the Industry 5.0 framework. This is especially important given that supply chain success hinges on effectively sharing information and collaboration across a number of organizations where millions of sensors collect quality and performance data. IoE devices that track assets (RTLS), raw materials and finished products provide timely data essential to critical supply chain functions such as logistics, environmental monitoring, warehouse management, shop floor controls and Material Requirements Planning. These inputs have an even greater importance in an age where customers expect to know the status and whereabouts of their order. Provenance, or the origin and history of an asset, is essential to ensuring quality, consumer safety, manufacturing performance and protecting against counterfeit parts and goods. IoE technology provides the eyes required for effective provenance. When combined with a blockchain, this information becomes immutable.
At Group50 we pride ourselves on a long history of working with companies to maximize returns from their supply chains. In addition to developing and implementing supply chain strategies and organizational structures relevant to today’s business landscape, our Digital Technology Practice helps clients integrate their existing systems with the Internet of Everything, Blockchain and Analytics to capture time critical data, securely save and share it across supply chain partners and analyze this wealth of information for better customer service, reduced costs, and realizing new revenue opportunities.
We are also building a supply chain solution Scioebc™ that combines the strengths of IoE, Blockchain, and Analytics. Built on a Hyperledger based permissioned blockchain, Scioebc™ is powered by Thinaër, an IoE and analytics platform. Scioebc enables a full provenance and interfaces to traditional supply systems as shown in this short 2 minute video.
Technology is changing and evolving at a frenetic pace and it is transformational. It will be impossible for people in your organization to stay abreast of those changes. As a result, it is important that companies follow a specific methodology for strategy, education, planning the use case(s) and creating a technology roadmap and implementation. Companies interested in taking that journey should start with developing an IoT strategy, and take advantage of the following Group50 IoT implementation workshops:
- IoT Immersion Workshop: Bring your leadership team up to the same level of understanding about IoT business applications
- IoT Strategy Workshop: Identify applications for IoT and understand how it would integrate it into your business strategy
- Building the Business Case for IoT: Developing an understanding of the implications in your business, to your customers, throughout your supply chain and to the bottom line
- IoT Implementation Roadmap Workshop: Creating the multi-year plan for how your are going to implement and integrate IoT into your business
We recommend that the very first step is a customized IoE Immersion Workshop where the entire leadership team can get on the page with understanding IoT business applications and its transformational capabilities.
Group50’s expertise in business process design, transformation, organizational design and digital technology, coupled with our unique plug and play technology, positions us to be your partner in adopting and managing this transformative technology in a way that is both scalable and sustainable. You can read more about IoT and Blockchain in a series of blog articles, which includes use cases, here.