The Internet of Things in shipping
Considerations for the shipping and logistics industries
An overview on Internet of Things considerations for the shipping and logistics industries with a framework that captures the series and sequence of activities by which organizations create value from information.
It’s always been essential for shipping companies to keep track of where everything is, and Internet of Things applications have made that easier. But the IoT is also expanding the ways in which T&L firms function—¬cutting costs, increasing efficiency, and creating new revenue possibilities.
The report highlights that while companies in transport and logistics (T&L) have always been data-driven, with specific applications like real-time tracking of shipments, warehouse-capacity optimization, predictive asset maintenance, route optimization, improved last-mile delivery, and more, they still have a huge opportunity ahead of them in IoT.
The increasing number of connected devices, embedded sensors, and analytics technologies will only increase the data and accelerate. This will lead to more efficient use of transport infrastructure, better engagement with customers, and more informed decision making.
The report has four recommendations for T&L and IoT:
- Define goals
- Choose the business need
- Develop a solution
- Build an action plan
A framework captures the series and sequence of activities by which organizations create value from information: the Information Value Loop.