Blog Post

How The Internet of Things Is Transforming Business

Adapt Ideations • Dec 07, 2022

What Is IoT?

IoT, also known as Internet of Things, is a modern innovative concept that is revolutionising the way businesses operate around the world. According to IBM, IoT can be defined as the concept of connecting devices to each other and the internet. Essentially, it is a network of smart technology that allows for improved data collection and transfer. IoT technology can have a significant impact on various facets of a business, for example with regards to global supply chains, IoT technology can typically be integrated in devices that have monitoring capabilities. This can refer to phones, sensors, RFID tags, GPS trackers, and last but not least, data loggers.

Data loggers are compact yet have vast capabilities that have the ability to collect data on a range of metrics based on the status of goods in transit, particularly those that are sensitive or valuable in nature. The presence of IoT within business has allowed for innovative active asset tracking solutions to assist in gaining increased visibility into any violations that have occurred for assets across global supply chains. Data loggers are able to collect information based on vital metrics including location, temperature, light and shock to name a few. The biggest question now remains, how has internet of things impacted business? The relationship between IoT and data loggers has been significant in assisting various industries in business, particularly logistics and cold chain sectors.

So, How Has Internet Of Things Impacted Business?

When the internet was first introduced, it was accessible through stationary electronics such as the desktop computer. Soon, it began to transform the use of portable communication devices, including phones, tablets, smartwatches and more. It has now even extended its reach to smart assistants such as Google Home and Alexa. All of these devices have a direct application in various business sectors. Portable electronics have become an integral part of basic day-to-day business functions, whether they are used to host a virtual meeting or help with collaborating on a shared document, every business in the industry is reliant to some capacity on IoT technology.

A few sectors that can easily benefit from the existence of IoT solutions include food & beverages, cold chain logistics, and biopharma. This is primarily because the aforementioned sectors all involve temperature-sensitive, high-value or fragile goods. For example, if a shipment of fine art was being transported on road, by utilising IoT supported data loggers the client would have near real-time visibility of their assets. This can help to avoid the negative financial impact of damage or lost goods in transit as violations are received in near real-time allowing necessary intervention to take place as soon as possible.

What Are The Benefits Of IoT In Business?

IoT can greatly benefit businesses involved in various sectors, ranging from pharmaceuticals to valuable assets such as artwork. The versatility of this technology has changed the broader business realm, in particular the way goods are transported, as it offers clarity and visibility into the status of shipments in transit. IoT enabled track and trace solutions such as data loggers have a significant impact on various functions within a business. A few prime examples include:

1. Increased efficiency in everyday asset management and productivity – By utilising an IoT based monitoring solution, it is easier to keep track of where goods are, ensuring that shipments are being sent to respective clients in a quick and systematic manner. This in turn positively impacts company productivity as it drastically reduces the amount of constant verification and manual intervention that needs to take place therefore enhancing business functionality.

2. Optimised operations processes, inventory, and storage solutions – Implementing organised and methodical processes by constantly reassessing plans and processes to best suit the current climate of a business can help maintain a well-oiled company. For instance, the installation of active asset tracking solutions within warehouses or storage facilities can help keep track of rapid inventory changes and ensure that shipments are travelling directly to their respective clients.

3. Enhanced decision making – The data collected by IoT enabled data loggers can help reduce the likelihood of human error as they decrease the need for manual data entry. In addition, they allow those within the business to make quick and efficient decisions backed by the data collected. This results in a lower chance of product waste, shipment delays, and financial loss.

Slide title

Write your caption here

Button

How Does Adapt Ideations Help Companies To Transform Their Processes With The Use Of IoT Enabled Asset Tracking & Monitoring Solutions?

Amongst the plethora of useful methods of application in business, IoT plays a major role in track and trace solutions needed to maintain visibility of shipments in transit. Data loggers are a popular option for clients that require a reliable near real-time solution that can capture data based on vital metrics such as location, temperature, light and shock. At Adapt Ideations, we are proud to be at the intersect of IoT and business functionality. Our unique and innovative data logging solutions utilise the connectivity of IoT to collect and transmit vital data to clients. We offer three main product ranges, namely KELVIN, PIXEL & PROTON. From multi-use and single-use solutions that track moving shipments, to devices that send data based on the climate in cold storage facilities, our loggers continue to achieve greater visibility for the global supply chain.

Get in touch with us today at enquiries@adaptideations.com for further information on our solutions.

IoT can be utilised across many functions across a business. One of the main purposes of IoT within supply chains for example, is to upgrade business processes and solutions by using sensors, devices, gateways, and platforms. By collecting all the data in one spot, companies can then make informed decisions and develop more efficient processes.

The benefits across all businesses vary depending on the application. However one primary benefit of data collection is the ability to use it to improve products, services and customer experiences while also helping to improve decision making and drive profitability.

By making use of connected devices that track and monitor assets throughout business operations, IoT technology can automate

many manual processes and thereby improve operational efficiency.

Get in touch with us today at enquiries@adaptideations.com for further information on our solutions.

< Older Post Newer Post >

Start Your Journey >

Powerful and reliable, asset tracking and monitoring solutions.

Innovative monitoring solutions for high-value & temperature-sensitive assets.

KELVIN

Real-Time Temperature Data Loggers
Button
PIXEL

Cold Storage Monitoring Data Loggers
Button

Share Our Post.

Awards & Recognition

A silver laurel wreath with the words india biologics and vaccines awards 2022 written inside of it.

Best Temperature Monitoring Solution Provider

Awarded by India Biologics & Vaccines Outstanding Industry Awards 2022

A silver leader recognition badge with a star and laurel wreath.

Adapt Ideations Recognised As A Supply Chain Leader

by Alcott Global on Supplify's Supply Chain Tech Map 2.0

Technology Excellence in Cold Chain

Awarded at the 15th ELSC Leadership Awards

elscconclave.com

Related Articles.

Mitigating Supply Chain Disruptions: Lessons from Global Events

05 Nov, 2024

Unlock the secrets to resilient supply chains amid global disruptions. Explore real-time solutions with Adapt Ideations for efficiency, compliance, and security.

Ensuring Vaccine Integrity with Active Track & Trace Solutions

10 Oct, 2024

The global landscape of healthcare is evolving rapidly, with vaccines playing a pivotal role in preventing and mitigating diseases. The World Health Organization (WHO) underscores the critical need for vaccines to be stored and transported at specific temperatures to ensure their efficacy and safety. The COVID-19 pandemic has underscored the fragility of global vaccine distribution, emphasizing the importance of maintaining the cold chain during transportation and storage. Importance of Cold Chain in Vaccine Distribution The efficacy of vaccines is intricately linked to the maintenance of the cold chain. The global cold chain packaging market is projected to grow at a substantial CAGR of 14.8% from 2023 to 2033, driven by the escalating demand for temperature-controlled packaging solutions, especially in the pharmaceutical industry. This growth is indicative of the increasing recognition of the significance of the cold chain in preserving the efficacy of vaccines. The Role of Active Track & Trace Solutions Amid the challenges posed by maintaining the cold chain, the emergence of the active track and trace solutions has become a game-changer in ensuring the integrity of vaccines. 1. Real-Time Monitoring for Vaccine Integrity Active track and trace solutions provide real-time monitoring, offering a dynamic and immediate response to deviations from the recommended conditions. This capability is instrumental in preventing temperature excursions that could compromise the quality of vaccines during transportation and storage. 2. Automated Alerts for Swift Intervention One of the key benefits of active track and trace solutions is their ability to generate automated alerts. In the event of any deviations from the optimal temperature and other vital conditions, stakeholders receive instant notifications. This swift intervention minimizes the risk of vaccine wastage and ensures that corrective measures are taken promptly. 3. Data Analytics Enhancing Decision-Making Beyond real-time monitoring and alerts, active track and trace solutions contribute to data analytics. The integration of analytics provides valuable insights into the performance of the cold chain. Decision makers can leverage this data to optimize supply chain processes, further enhancing the efficiency of vaccine distribution systems. Challenges in Vaccine Tracking The pharmaceutical industry faces unique challenges in tracking and distributing vaccines, especially in the wake of global health crises like the COVID-19 pandemic. 1. Increased Demand and Market Growth The global vaccine market is expected to grow at a CAGR of 5.74% from 2024 to 2030, fueled by the escalating demand for vaccines worldwide. The Asia-Pacific region, with its rapidly growing market, is at the forefront of this expansion. The surge in demand poses challenges in efficiently meeting the needs of diverse populations. 2. Vaccine Distribution Challenges The COVID-19 pandemic had triggered a surge in demand for vaccines globally, highlighting the need for efficient and effective distribution systems. Advanced technologies, including active track and trace solutions, play a pivotal role in overcoming the challenges posed by increased demand and ensuring a seamless distribution process. The Intersection of Technology and Vaccine Distribution To overcome the challenges of vaccine tracking and distribution, the pharmaceutical industry is increasingly turning to advanced technologies. 1. Blockchain and AI for Enhanced Efficiency and Security The utilization of technologies such as blockchain and artificial intelligence (AI) holds great promise in improving the efficiency and security of vaccine distribution systems. Blockchain, with its tamper-proof ledger, enhances supply chain security. AI, on the other hand, analyzes vast datasets, providing insights that can be utilized to optimize supply chain operations. 2. Global Cold Chain Logistics Market Growth The global cold chain logistics market is projected to grow at a significant CAGR of 15.1% from 2021 to 2028, emphasizing the increasing demand for temperature-controlled logistics solutions. This growth further underscores the need for advanced technologies to ensure the integrity of temperature-sensitive products, with active track and trace solutions at the forefront. Maersk's Perspective on Cold Chain Logistics Maersk's whitepaper on the state of cold chain logistics provides insights into the pressing need for advanced technology adoption in the global supply chain. 1. Technology Enhancement Goals With 75% of the global supply chain seeking more technological enhancements by 2026, the demand for IoT solutions, including active track and trace solutions, is becoming more critical. Maersk emphasizes the need for a technological revolution to address the challenges posed by the increasing complexity of the global supply chain. 2. Roadblocks: Personnel and Change Management While the benefits of IoT technology are evident, roadblocks such as personnel and change management hinder the full-scale adoption of these technologies. Overcoming these challenges requires a strategic approach to training and organizational change, ensuring seamless integration into existing supply chain processes. Digital Transformation in Pharma Supply Chain The pharmaceutical industry is undergoing a significant transformation, driven by the need for a more resilient and agile supply chain. 1. Supply Chain Challenges and Opportunities The pharmaceutical industry faces numerous challenges in optimizing its supply chain processes. These challenges include counterfeit drugs, lack of visibility, product recalls, supply chain disruptions, complex inventory management, data security, and stakeholder collaboration. However, amidst these challenges lie numerous opportunities for improvement through digital transformation. 2. Opportunities Unveiled by Digital Transformation Digital transformation offers the pharmaceutical sector multiple opportunities to enhance its supply chain. Technologies such as IoT, blockchain, and AI can revolutionize the industry. a. Enhanced Visibility Through IoT Digital technologies such as IoT provide real-time visibility into the entire supply chain, enabling greater transparency and accountability. This is particularly crucial in ensuring the integrity of temperature-sensitive products like vaccines. b. Reduced Lead Times and Improved Quality Control By automating and streamlining repetitive processes, digital technologies can significantly reduce lead times, resulting in faster product delivery and increased customer satisfaction. AI and machine learning can enhance quality control by analyzing large datasets, identifying patterns, and enabling proactive quality management. c. Cost Savings and Sustainability Digital transformation can result in significant cost savings for pharmaceutical companies by reducing waste, improving inventory management, and optimizing processes. This is crucial for ensuring the profitability and sustainability of the industry.

The Future Of Smart Warehousing: 9 Global Trends & Innovations

11 Sep, 2024

Explore the future of smart warehousing with real-time visibility trends and innovations. Unlock efficiency and sustainability with Adapt Ideations' KELVIN range of solutions.

Partnering For Regional Manufacturing Support

14 Aug, 2024

Overview After experiencing multiple lockdowns and restrictions globally during the pandemic Adapt Ideations saw a clear answer to overcoming challenges such as manufacturing delays or orders requiring a quick turnaround. This led the company to identify regional manufacturing support that could be utilized to meet these necessary requirements. Adapt Ideations turned to Circuitwise , a local Australian manufacturing company to diversify our manufacturing. Problem A significant takeaway from the global pandemic highlighted the need for regional manufacturing support due to prior reliance on international manufacturers. Not only were periodic delays experienced, but turnaround times between product testing and challenges with global logistics to our regional hubs were felt throughout the pandemic. This led Adapt Ideations to seek regional manufacturing support in order to combat future challenges experienced from solely relying on overseas based suppliers for manufacturing our products. Regional support can also be utilized for smaller orders or when a quick turnaround is essential for orders placed. In most cases our clients have a significant number of devices in circulation at any point of time. An important aspect of the devices in circulation is managing them effectively particularly over a number of different sites. In order to achieve this, Adapt Ideations provides customers the ability to use mass charging boards in which a number of devices can be charged at the same time without individually having to connect each device to a USB cable and subsequently into a power socket to charge. Solution In a company first, Adapt Ideations partnered with Circuitwise , a local Australian manufacturing company to meet the requirements of an order for mass chargers that needed to be fast tracked. With Adapt Ideations largely working with clients who handle cold chain products that are often highly regulated, partnering with a supplier who maintains a high level of reliability & safety standards and has demonstrated experience working with similar industries is paramount to ensure consistent high standards are maintained. The benefits of partnering with a regional manufacturing supplier can be measured on a number of metrics such as experiencing a quicker turnaround to better meet the needs of our clients when required, eliminating the need for globally importing products and cost savings associated with smaller orders placed. Future After the first successful project working alongside Circuitwise, Adapt Ideations hopes to expand the partnership and work with Circuitwise on a number of future projects. Their commitment to high quality standards and collaborative approach has been fundamental in supporting us throughout our first project with Circuitwise. “Increasing supply chain resilience post pandemic has been a significant focus area for Adapt Ideations. Our collaboration with Circuitwise provides a strategic assurance to our ANZ supply network while supporting the drive to promote manufacturing in Australia. We look forward to more exciting projects in the coming days.” - Anirban Gupta Co-Founder and Director, Adapt Ideations Circuitwise CEO Serena Ross said she was pleased to see another company realize the benefits of manufacturing in Australia, particularly for small to medium-sized production runs. “There are many good reasons for manufacturing in Australia ,” Serena said, “including speed and reliability, responsiveness, ease of communication, reduced tariffs and intellectual property protection.”

Global Trends In Cold Chain Packaging: Ensuring Product Integrity

26 Jun, 2024

Explore global trends in cold chain packaging, ensuring product integrity. Discover innovative solutions with Adapt Ideations for real-time visibility and sustainable logistics.

Innovations in Temperature-Controlled Logistics: A Global Perspective

02 May, 2024

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.