NetworksAsia recently reported on the results of the Survey “The Digital Silk Road to Success” released by NTT Communication Corporation in November 2016. In their article “IoT, big data analytics changing supply chain ecosystem in Asia”, they report, “new technologies hold the key to transforming their growth model”. They state that nearly 80% of companies surveyed saw the outlook for the next 12 months as good, in spite of challenges like price pressures and increasing costs. The reason they are so positive is that 94% of the surveyed companies already have a plan in place for adding new technology. The article continues to say, “IoT (60%) and big data analytics (58%) are the most widely adopted technologies among those surveyed.”
Organizations looking to add new value across existing value chains is not a new concept, yet the how and where this value is coming from is evolving at an ever quickening pace. The article quotes Raymond Ng, Vice President, Vertical Solutions, NTT Com Asia, saying “the success of retail, manufacturing and wholesale industries relies heavily on an efficient supply chain ecosystem where companies’ ability to trace and visualize the bilateral flow of goods, information and cash throughout the value chain at a given moment has become ever more critical.”
The research shows that the natural synergy between supply chain management and IoT Analytics is becoming more and more clear. The opportunities are vast, diverse and as such can be rather intimidating. Many organizations are searching for a clear path to insights and actions, to drive better business outcomes based on utilizing the data available from sensors, devices and external data sources.
The solution is to look at where the combination of IoT sensor data and real time actions enables them to cut costs, reduce inventory, and meet stringent regulatory and safety requirements. To facilitate this organizations need a unified analytics platform. With the combination of existing Supply Chain system investments, new IoT data streams, Big Data lakes and a unified analytics platform, organizations gain the building blocks for intelligent real-time Supply Chain Command Centers. As Ng stated, “combining IoT and big data is far from new, it is the recent extensive application of these disruptive technologies that is proving to be a game changer for the supply chain.