IOT in manufacturing & smart factories
The Pharmaceutical industry had immense potential of adopting internet of things (IOT) and this could be in the consumer or industrial space. Regulators and health providers can empower consumers with intelligent devices to transmit data on usage, replinishments and habits ; which will help the supply chain side of pharmaceutical industry.
Here are some of the benefits from an industrial IOT pharma perspective – Couresy – Moduslink
Sensors are being deployed throughout forward-thinking supply chains, making every inch of the global supply chain a data point that can be captured, analyzed and fine-tuned for increased efficiency. Now that supply chains are part of the connected world, organizations across the globe are realizing significant benefits, including:
IOT supply chain Visibility: The number one thing that advances in IoT have created is the ability to have greater insight into exactly what is happening at any stage and at any time in the supply chain. Supply chain professionals can now gain a much better understanding of exactly where each item is and how long it’s been there, arming them with the data they need to make informed decisions. Before the connected world came to be, companies struggled to understand their supply chains, getting only occasional updates and an outdated recap report, but all that dated information provided was historical looks back; it was much too late to make any real changes or adjustments.
IOT Operational Efficiency: The real-time visibility enabled by the IoT enables information to be shared at every level – allowing deficiencies to be identified quickly so that problems can be immediately rectified, or possibly even prevented altogether. Companies can see delays, slowdowns or trends that will affect the bottom line and inefficient processes that are costing them money can be identified and corrected. Rather than relying on anecdotal information from different teams spread across disparate locations, management can easily access a real-time snapshot of supply chain analytics and make decisions accordingly.
IOT Customer Service: By allowing companies to redesign supply chain processes for greater efficiency, the IoT is helping organizations dramatically reduce the amount of time from click to fulfillment. The fast and efficient delivery enabled by real-time data access is now essential in order to meet consumers’ expectations. Customers also demand access to information – from up to the minute details on where their item is in transit to accurate alerts notifying them of delivery dates and times.
IOT pharma Inventory Management: Today’s customers expect products and services exactly when and how they want them. The IoT allows organizations to automatically know when products must be restocked or reordered, eliminating delays or inventory issues that would send customers to the competition.
IOT Loss Management: With sensors tracking every movement, it’s now almost impossible for merchandise to simply “fall off the truck” en route to its final destination, whether it’s a retail location or a customer’s front door. And if it does, management will know exactly where the incident happened and what factors may have contributed to merchandise loss. Issues and weak spots within the supply chain can be identified before they become a problem that impacts revenue and customer satisfaction.
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