How IoT Makes the Transportation Industry Smarter

How IoT Makes the Transportation Industry Smarter
IoT app development
If the safety of your vehicles, employees, and passengers is a concern, if you are facing issues in the business process improvement, if the rising cost of operation is threatening your profitability, then the internet of things i.e. IoT in your transportation business could be the right solution as it is transforming the way this industry operates.
Internet of things continues to dominate the future of several businesses and the transportation industry is no exception. As per IoT analytics, Inc. (the online portal that engages in researching about IoT market insights), the IoT market is booming despite the adverse impact of the Covid19 pandemic on most related sectors. The total number of connected IoT devices will reach approximately 27 billion by the year 2025. These are pretty big numbers and the future seems bright.
IoT in the transportation industry uses a network of centrally connected devices with sensors, GPS, electronic monitors, RFID systems, etc. to ensure real-time visibility. These devices are connected to vehicles or off-road locations like owners or/and customer’s warehouses, offices, or stores. Thus, the internet of things enhances operational efficiency.
It is interesting to know how the internet of things is contributing to smarter transportation systems and ultimately a smarter world. The top benefits and use cases are as follows.

Benefits and Use Cases in the Transportation and Logistics Industry

IoT in Transportation
IoT ensures Real-Time Visibility
Transparency is a game-changer in the transportation and logistics industry. Internet of things makes operations transparent by providing real-time visibility. Issues like truck weight management, delays in traveling, energy and resource management, performance monitoring, location tracking, and safety management can be handled well.
The significance of real-time visibility is especially felt in the trucking and freight shipping business. If your freight bills are rising or you feel your truck drivers aren’t loyal to you, then internet of things can help to keep a track of the freight. An ideal example of the implementation of IoT in transportation is a software solution named AppWeigh. It is a specially designed smart app that measures the load on trucks throughout their shipment and sends the information to the owners on their smartphones. If the load on a truck is reduced or increased beyond the limit, then the owners immediately get notified. They can ensure that their goods are transported legally and safely to the destination. AppWeigh uses technologies like beacon integration, Bluetooth-enabled sensors, geo-location tracking, etc.
It improves Fleet Management
Internet of things strengthens the operations in fleet management – maintenance of vehicles, their financing, tracking, diagnostics, management of fuel, management of drivers, and safety management. For instance, special sensors are placed on the trucks that track pressure on the tires, load on the truck, unsafe speeds, or driving patterns and send notify the fleet managers accordingly. It helps the managers to track shipments, manage the drivers, optimize shipping routes and cut costs related to staff inefficiencies.
IoT Fleet management apps provide real-time information about the location of the vehicle using geolocation tracking. After incorporating IoT in the transportation industry, fleet managers can go the extra mile to improve its overall functioning.
It helps Maintenance of Vehicles’ Health
Smart IoT systems developed by smart IoT developers can monitor the wear and tear of vehicles and analyze vehicle health. Barcode scanning, GPS tracking, mobile fuel logs, sensors, camera, etc. are used for this. These provide information about engine health, fuel consumption, and inefficiencies. Some sensors are used to track the temperature of the products, shock and vibration levels, etc. to ensure that the goods are in safe conditions.
Using this information, the business owners can reduce maintenance costs saving thousands of dollars. Any breakdown issues of the vehicles can be detected in advance using IoT the in transportation industry, preventing major damages.
It helps Warehouse and Yard Management
If warehouse and yard management aren’t managed properly, it directly affects the cost of the business. IoT systems use beacon integration, SMS and email notification, BLE connectivity, scanning and detecting sensors, etc. for warehouse and inventory management. They ensure that the right products are placed in the right quantity and the right place at the decided time. These systems reduce human activities and enable machine intervention. They help to automate the tasks which reduces errors caused due to overlooking or visibility-related issues by humans.
IoT in Transportation Minimizes Risks and Increases Profitability
  • With real-time information, one can be loyal to their clients by informing them about any delays, changes, cancellations, etc. beforehand. Eventually, this improves customer relationship management (CRM).
  • IoT in transportation helps to increase the connectivity of owners and managers with operators and drivers. Thus, they can instantly communicate about any issues ensuring pro-active repairs and maintenance.
  • It provides robust security services to passengers and employees along with vehicles, equipment, freight, and data as well.
  • Illegal practices by drivers or operators can be easily prevented with the help of the internet of things during transportation. It provides transparent information which helps predictive analytics which can lead to better planning of the resources.

Conclusion

It’s evident why IoT applications are a blessing to the transportation and logistics industry. With so many benefits, transportation is increasingly becoming more dependent on IoT-empowered solutions/systems. It promises extensive profits for logistics operators, business clients as well as end-users.
All you need to do is hire competent IoT app development services for building customized IoT solutions as per your requirements. In this regard, Biz4Solutions, a distinguished Iot app development company is worth a try. We help with crafting and incorporating intelligent transportation systems so that business owners can pull ahead of their competitors and grab higher business opportunities.

Top Benefits and Key Features of a Proficient Inventory Management System!

Top Benefits and Key Features of a Proficient Inventory Management System!
Offshore software development company in India
Just imagine!
A businessman is trying to run his business without knowing how much the stock in the inventory is, or the workers do not know the where-about of the product when there is a sale or an urgent requirement from any client. Or even worse, the products are being stolen by someone and there isn’t any record of it. What do you think will be the results in the long term? Losing the customers to a competitor? Ruining the relationship with clients? Incurring huge monetary losses? Or maybe all of these! Well, all these inherent issues can be resolved by businesses if they embrace an inventory management system.
The significance of such a system is monumental as it helps the businesses to track the inventory levels, track sales, orders, and distributions smartly thereby reducing the business losses. IoT is one of the key technologies being used widely in such systems – IoT in scanning the inventory using RFID, IoT in transportation and Logistics, etc. So, in this blog, to get a fair idea, we have outlined the advantages and key features of a technology-smart inventory management system.

Why the Need for an Inventory Management System?

  • High transparency and visibility of product levels
  • Preventing stock-outs and overstocks
  • Minimization of capital investment
  • Enhancement in business operations and workflows
  • Accurate inventory tracking
  • Getting rid of paper-based and spreadsheet tracking
  • Appropriate planning of inventory balance
  • Better warehouse management and utilization of warehouse space
  • Time-saving due to automatic inventory and order management
  • Cost-cutting by reducing manual labor intervention
  • Increased efficiency of payment/billing details
  • Improved relationships with vendors and clients
  • Improved employee efficiency
  • Enhanced inventory turnover and thus, better revenues

Top-notch Features of a Smart Inventory Management System!

Inventory Management System
Check out the essential features of an ideal inventory management software.
  1. Real-time Visibility of Inventory: A smart inventory management system must ensure that all the items in the inventory are under real-time visibility. Every item entering or leaving the warehouse must be tracked and this data should be stored digitally.
  2. Monitoring levels of Inventory: An effective system must allow proper management of orders, raise alarms when inventory drops below a threshold limit or exceeds it. This feature allows decision-makers to take necessary actions like ordering fresh inventory, avoiding excessive stocking, etc.
  3. Barcode Scanning: A barcode is a machine-readable code used for stock management and control. Barcode scanning is a must-have feature for easy identification of products, labeling, and sorting into categories.
  4. RFID-based Tracking: RFID-based inventory tracking and control allows real-time and automated tracking of the inventory. Hundreds of tags can be read simultaneously making the process much faster and cost-effective. RFID technology is also capable of sending alarms and alerts in case of emergencies.
  5. Advanced Reporting: An inventory management system should provide accurate insights on factors like stock management, sales, purchase, suppliers, customers, payments, etc. Reports of transactions, inventory totals, order details, etc. are mandatory for ensuring efficient workflows, and for augmenting efficacy. This feature helps to monitor the progress in the sales and understand which product is in high demand and which isn’t.
  6. Tracking Transaction History: This is an absolutely essential feature. All the inventory-related details right from the receipt to shipment of the inventory must be tracked and stored. Details like the number of products, receipt dates, expiration dates, shipping dates, etc. must be saved and should be easily accessible by the concerned personnel whenever required.
  7. Management of Multiple Warehouses: A single system should allow the management of multiple warehouses that may be located at different locations. This feature is especially relevant to companies that operate across multiple locations.
  8. Grouping of Inventory: Grouping of the material according to its specification, size, components, etc. into predefined categories is another important feature. It enhances the inventory organization.
  9. Easily Configurable: A good inventory system should be able to be configurable with different business entities easily and be successfully employed without much customization.
  10. Easy Integrations with External Systems: System should be able to integrate with third-party ERP systems or a Warehouse Management System or Shipping companies with ease. A company may also want to integrate other systems for data analytics, corporate accounting, planning, etc. in the inventory management system which should be easily possible.
  11. Forecasting Demand: This feature allows extracting the past data to identify the demand in the future; which in turn helps to make pro-active business decisions, build good relationships with customers, and boosts sales.
  12. Security Features and Backups: It isn’t a good idea to invest in an inventory system without knowing about its security measures. To ensure high data security, there should be security features that allow only authorized people or give partial rights to access the data. This would prevent the system from any data misuse or data leakages. Also, there should be daily backups available. So, in case you lose the data to a third-party hack, or any other threat, you will be able to start the operations again without much trouble.
  13. Receiving alerts: This feature allows the alerts and notifications about the receiving, picking, shipping, of the inventory, or when inventory is running low or there is overstocking of inventory.
  14. PDF Printing: The inventory management system must be able to create or print PDF documents related to invoices, packing slips, shipping labels, quality control documents, etc. and such related documents.
  15. Import/Export of Data: This is another advantageous feature of this system. It should be able to import data with ease to reduce data entry work and streamline mass changes. The System should be able to export data like shipment lists, inventory item lists, master data of vendors, customers, etc.

Final Words:

When a business relies on traditional ways of inventory management, there are chances that data could be inconsistent or inaccurate. These ways are prone to human errors which could cause huge monetary losses at times and adversely affect business growth. Also, there could be security issues in them. A smart inventory management system embedded with the above features has ample advantages over traditional systems. It has impacted several businesses across the globe.
Would you like to develop such a system for streamlining your business? Contact Biz4Solutions, a prominent offshore software development company in India and U.S.A., for crafting a smart inventory management system customized as per your needs.
I hope this blog was helpful. Please feel free to comment below to let us know your thoughts on this.
For any queries, mail us at sales.enquiry@biz4solutions.com