Supply Chain Briefing: The Internet of Things Brings Efficiency and Accuracy to the Supply Chain
In our weekly Supply Chain Briefing series, we discuss how technology is transforming the various stages of the retail supply chain, including product design, demand forecasting, manufacturing, logistics, warehousing, last-mile delivery and sales.
This report discusses the Internet of Things (IoT), a technology used extensively in a variety of industries’ supply chains.
- Global spending on IoT is estimated to reach $745 billion by the end of 2019, an increase of 15.4% year over year (YoY) compared to $646 billion spent in 2018, according to market intelligence company International Data Corporation.
- Companies use IoT to enhance workflow, optimize logistics and streamline delivery at various stages of the supply chain.
- IoT has a variety of applications in retail.