Shipping smarter: IoT opportunities in transport and logistics
Many industries and business sectors are struggling to grasp the possibilities of data-driven technology, but companies in transport and logistics (T&L) are way ahead. By their very nature, the logistics providers that move objects by air, sea, rail, and ground have widely distributed networks and rely on rapid information about those networks to make decisions. As a result, they were quick to see the benefits of new sensor and connection technology, placing them at the forefront of the transition to a connected world.
Business needs drive Iot applications
Deploying and expanding IoT capabilities requires more than just technological breakthroughs—making a system work requires not only an understanding of the industry dynamics but also a strategic approach to the Information Value Loop.
Recommendations to ship smarter, not harder
Transportation and logistics industry players may have different goals and ambitions for IoT technology. Depending on their business strengths and strategic focus, the scope of the solution that is needed can vary widely. As scope varies, so do the difficulty of implementation and the potential benefit from IoT applications.
So while the IoT has revolutionized technology and how work gets done, the fundamentals of business strategy remain constant. As with any strategy, companies must define a goal, choose the business need that the goal will address, develop a solution, and build an action plan to implement that solution.
· Define goals
· Choose the business need
· Develop a solution
· Build an action plan
Like any team, a T&L company must work hard if it desires success—though playing the wrong sport on the wrong field can be a surefire way to fail no matter how hard a team works. The planning process and recommendations in the report can help T&L companies determine where to play and find the right strategy to win, ensuring that IoT technology is a valuable part of every T&L game plan.