Blog Post
How is emerging technology helping to transform operational excellence for logistics companies?
Adapt Ideations • Aug 17, 2020
IoT technology is becoming an increasing global trend that can greatly transform logistics companies processes by creating a more efficient operations process.
New and upcoming smart technology such as IoT are revolutionising the supply chain and enabling greater operational excellence to be achieved for logistics companies. It is becoming more important than ever for logistics companies to invest and utilise smart technology such as IoT in their business in order to maintain a competitive edge in the market. IoT technology is becoming an increasing global trend that can greatly transform logistics companies processes by creating a more efficient operations process.
The expansion of IoT can enable greater growth in the connections between goods, vehicles, packaging and transportation modes. A more extensive information supply, as a result of IoT technology, allows companies to maintain control of their assets from a distance and to also check on the condition and status of their goods in transportation. By utilising real-time data collected through IoT technology, logistics companies can ensure consistent product quality to their consumers. Subsequently this increases the trust between companies and stakeholders also through greater visibility and transparency.
Adapt Ideations’ LISA, is a smart asset tracking device that uses IoT technology allowing businesses to digitally track the movement of their cargo, inventory and assets remotely. LISA, Adapt Ideations’ asset tracker relays near real-time data to concerned entities which in turn reduces issues such as loss of goods, theft and misplacement of cargo during transportation. Therefore, by utilising IoT technology such as LISA, logistics companies can increase their operational excellence by achieving greater end-to-end transparency. Furthermore, LISA’s long-life battery, geofencing capabilities and location & accelerometer sensors mean that businesses can be assured of the constant visibility of their products.
IoT solutions applied to the logistics industry enable businesses to increase end-to-end visibility creating a more efficient operational process. The logistics industry will be able to achieve great operational benefits from a more efficient supply chain process. A report released by DHL in 2018
projects that the utilisation of blockchain technology to reduce global supply chain barriers could increase the global GDP by nearly 5% and global trade by 15%.
Similar to IoT technology, blockchain is another emerging smart technology that allows companies to track their assets, increases traceability of goods and strengthens trust between stakeholders in the supply chain. The logistics sector including manufacturers and suppliers involved in a company’s supply chain, can benefit from blockchain technology as it allows companies to automate their purchasing process, reduce or even exclude occurrences of human error and minimise excessive regulation to hindering regulations. In addition, a logistics system utilising blockchain technology will save both time and money, and increase the efficiency of paperwork coordination as it removes the need for multiple parties to confirm or validate documents. The utilisation of IoT technology is responsible for a 30% increase in order processing and a further 30% reduction in labour costs for the logistics industry, as reported by SupplyChain 247.
Adapt Ideations smart asset tracker KELVIN
allows each consignment to be tracked and managed from origin to its destination. KELVIN can further be integrated with a blockchain application using an API. The collection of near real-time data allows companies to revisit the information collated to analyse and understand any issues within the supply chain and to rectify any issues promptly. KELVIN's key features include location tracking, geofencing capabilities, shock and light detection, and temperature detection. Furthermore, the asset tracker
automates company’s supply chains and revolutionises the transportation process allowing greater levels of efficiency and visibility to be achieved, thus enhancing operational processes.
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Related Articles.
Temperature-controlled logistics is a crucial aspect of global supply chains, particularly in the pharmaceutical industry. Maintaining the correct temperature during transportation is not just a logistical issue but also a critical factor in ensuring the safety and efficacy of life-saving vaccines and other temperature-sensitive products. As the demand for temperature-sensitive products like vaccines and biologics continues to surge, ensuring their safe transportation is paramount. Any deviation in temperature during transit can compromise the efficacy of these products, leading to significant financial losses and potential health risks. This blog delves into the evolution of temperature-controlled logistics, critical challenges faced in this sector, and groundbreaking innovations that address these challenges. With a focus on real-time monitoring through IoT solutions, we aim to showcase the advancements that contribute to the efficiency and compliance of global pharmaceutical supply chains. Evolution of Temperature-Controlled Logistics Temperature control has undergone a remarkable transformation in the last two decades. Stringent global regulations, customer demand for new temperature ranges, emerging markets with extreme temperatures, and the growing value of drugs like biologics have been essential driving forces. These factors have spurred the evolution of temperature-controlled logistics to meet the demands of a rapidly changing world. The landscape of temperature-controlled logistics is evolving, thanks to technological advancements. Trends include the growing availability of prequalified shippers simplifying the validation process, sophisticated supply chain services, a rising interest in reusable packaging, and advances in temperature-monitoring technology. These innovations contribute to the industry's ability to adapt and thrive in a dynamic environment. Temperature-controlled logistics involves managing the flow of products through a cold chain. Divided into food and pharmaceutical sectors, the global market size of cold chain logistics is projected to grow significantly. From USD 242.39 billion in 2021 to USD 647.47 billion by 2028, exhibiting a CAGR of 15.1%, the industry is expanding rapidly, reflecting its critical role in modern commerce. 3 Key Challenges in Temperature-Controlled Logistics Compliance Issues Stringent Regulatory Standards: Global temperature-controlled logistics operates within a framework of strict regulations set by health and safety authorities. Meeting diverse regulatory requirements across international borders poses a significant challenge for companies in this sector. Documentation & Reporting: Compliance involves meticulous documentation and reporting of temperature-sensitive shipments. Keeping up with the evolving documentation standards requires streamlined processes and robust systems. Validation & Qualification: Ensuring the validation and qualification of equipment and processes according to regulatory standards is an ongoing challenge. The need for continuous validation adds complexity and time constraints to logistics operations. Risks of Temperature Deviations Product Integrity: Temperature-sensitive products, especially pharmaceuticals and biologics, are highly susceptible to temperature deviations. Even brief exposure to temperature breaches during transit can compromise the integrity and efficacy of these products. Financial Implications: Temperature deviations can lead to significant financial losses for companies. Replacing or disposing of compromised products and potential legal repercussions contribute to financial challenges. Supply Chain Disruptions: Temperature deviations can disrupt the entire supply chain, leading to delays in product availability. This not only affects businesses but can have critical implications for healthcare providers and patients relying on timely access to medications. Security & Theft Concerns Value of Cargo: Temperature-sensitive cargo, such as pharmaceuticals, vaccines, and high-value perishable goods, can become a target for theft. The significant value of these products heightens security concerns throughout the supply chain. Vulnerability During Transit: The vulnerability of cargo during transit, particularly in unsecured areas, poses a constant risk. The potential for theft during transportation adds complexity to securing temperature-controlled shipments. Need for Tracking & Monitoring: Ensuring the security of temperature-sensitive cargo requires robust tracking and monitoring systems. Integrating security features, such as real-time location tracking and tamper-evident technologies, is essential to mitigate theft risks. In navigating the intricate landscape of temperature-controlled logistics, companies must address these multifaceted challenges to uphold compliance, safeguard product integrity, and ensure the security of valuable shipments. Innovative solutions, such as advanced monitoring technologies and comprehensive security measures, are crucial in overcoming these challenges and fostering a resilient and efficient supply chain.
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