Nobody can predict the future, but thanks to some powerful software and the use of accurate automatic data capture technology, most companies can generate a pretty good idea of what their sales and inventory will look like in the days, weeks, and months ahead. With predictive sales forecasting, it’s possible to reduce excess inventories while also improving sales and streamlining supply chain operations. Forecasting isn’t perfect, particularly the farther into the future you project, but…
Asset management is a challenge even when those assets are relatively static. For companies that utilize highly mobile and expensive assets (such as large trucks, shipping containers, expensive tools, etc.) the challenge is even greater. Assets and equipment are often deployed in the field for long stretches of time with little visibility. This makes it difficult to optimize asset utilization and also raises the risk of theft or loss. There are a number of automatic…
Radio frequency identification (RFID) uses electronic tags to store data that can be transmitted to a scanner/reader. This provides identification and tracking benefits similar to those from barcoding, but with the ability to store more information and to read tags without a line of sight. Also, multiple (in some cases, hundreds) of tags can be read at once, making the technology more efficient. RFID has been deployed for supply chain management by many companies, but…
The growing Internet of Things (IoT) is on its way to connecting billions of pieces of equipment, consumer products, smart home systems, electronics, and other items. That represents a revolutionary way to collect data from far-flung assets, improving predictive maintenance, providing remote troubleshooting and control capabilities, and creating new ways to leverage large amounts of data that was never before available. Mobility plays a similar role. Every partner, employee, and customer is potentially available anywhere…