Blog Post
The internet of things role in transforming transparency expectations in the logistics industry
Adapt Ideations • Jul 01, 2020
Supply chain transparency in the logistics industry is no longer an option due to the increased expectation from clients to receive more transparent communication and consignment tracking during transportation.
Supply chain transparency in the logistics industry is no longer an option due to the increased expectation from clients to receive more transparent communication and consignment tracking during transportation. Visibility in the logistics industry means that clients are aware of the location of their cargo at any given time. The increased expectation faced by the logistics industry to increase their end-to-end visibility is a result of theft, misplacement and damaged goods that have occurred previously. The National Cargo Security Council (NCSC)
found that the global financial impact of cargo loss, costs the logistics industry USD $50 billion annually. More efficient supply chain management can slash USD $634 million of annual logistics losses, attributed to both cargo issues and occurrences of bottlenecks, as found by a IHL report in 2015 published on Business Wire. Therefore, it is imperative for all businesses to increase visibility throughout their supply chain and logistics process, not only to meet client expectations but to also eliminate unnecessary costs.
The Internet of Things (IoT) is rapidly transforming transparency in the logistics industry. IoT asset trackers track valuable goods, moving assets and consignments as they are being transported. IoT asset trackers are not only constrained to the logistics industry but are a viable solution to a variety of industry sectors. This revolutionary end-to-end visibility potential, increases business to client relationships as there is greater trust built between the two stakeholders.
Challenges experienced by the logistics industry cost businesses exuberant amounts of losses. As mentioned by Supply Chain Brain
poor connection or applications that do not work consistently account for 100 minutes or 23% of a driver’s days highlighting the need for better logistics management, such as asset trackers. Utilising smart IoT enabled asset trackers and sensors increases the quality of data collected, minimises costs, improves efficiency in transportation and eliminates non-compliance issues. Consequently, this allows logistics companies to be able to achieve end-to-end visibility, enabling them to become leaders in their industry.
Adapt Ideations’ smart asset tracker LISA, provides an essential solution to the rising expectations for increased logistics transparency. The smart asset tracker empowers companies to digitally track the whereabouts of their cargo at any given time. The smart asset tracker utilises IoT to collect near real-time data from the moving asset or consignment and relays it promptly back to the business, thus increasing their end-to-end visibility capabilities. By simply attaching LISA to consignments, companies enable the visibility of their goods during transportation. The asset tracker’s location, and geo-fence capabilities assures transparency each step of the way. Asset trackers, such as Adapt Ideations’ LISA
also improves businesses ability to intervene quickly when necessary.
The demand by customers calling for increased end-to-end visibility during transportation can be adequately met with IoT solutions such as Adapt Ideations’ asset tracker LISA. Asset trackers are transforming the expectations of the logistics industry and their clients as it provides revolutionary transparency thus enabling greater operational efficiency and profitability due to the data gathered and the insights that can be developed.
Get in touch with us today at enquiries@adaptideations.com
to find out more about our IoT smart asset tracking solutions and how they are able to revolutionise your logistics operations.
Powerful and reliable, asset tracking and monitoring solutions.
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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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