Supply Chain Traceability
Manufacturers are drowning in data from IoT devices, but the benefit in optimizing manufacturing processes comes when that data is contextualized with other data from across the supply chain, analyzed, and leveraged in real-time, says Doug Lawson, CEO of ThinkIQ, provider of an Industry 4.0 manufacturing platform.
“IoT traceability technology contextualizes data and delivers actionable insights for manufacturers across industries to improve yield, safety, quality, and compliance,” he says. “IoT technology, the efficient collection of data, and sharing it makes end-to-end supply chain traceability possible.”
With IoT traceability software, data is first collected from devices, sensors, and scanners throughout every stage of the supply chain, from raw materials to the finished product, Lawson says. This data can be derived anywhere from production and inventory to shipping and distribution.
“IoT technology can then deliver valuable, real-time information about the location, scheduling, and condition of various products and materials throughout the supply chain,” he adds. “Once gathered, the data is then contextualized in a cloud-based system using advanced analytics that provide actionable insights, allowing manufacturers to make adjustments as necessary for optimal efficiency and productivity.”
Some of the world’s biggest manufacturers are using this technology, particularly in the food and beverage industry, where harnessing IoT data to track and trace materials is crucial for business, Lawson adds.