Moving cargo like brass, copper, silver, expensive cars, or even electronics has always been a round-the-clock job, and being in alert job status until the cargo reaches its end destination. if this is you, you are a supply-chain leader with a phone by your side.
A single theft in the year can create stress, losing peace of mind leading to the hassles on insurance claims and even the insurance premium going up and increasing cost. Moreover, filing an FIR with the police where we cannot determine the theft location leads to more hassles in claiming the insurance.
It further impacts the end customer as the supplier with a flawed supply chain. This domino effect leads to multiple stakeholders being impacted. However, now times are changing with emerging technologies, the supply-chain leaders who are Early adopters are now leveraging.
Real-time data analytics
Introducing IoT solutions to track the truck or an electronic lock for a shipping container over a period of time leads to a further understanding of the route analysis, trends during cargo movement, and halt locations lead to better decision-making.
The Data evolves into a model in the future which can do the preventive work for them and thus become more accessible and connected in the same manner a new supervisor learns over time the custom process of the workplace.
The factory operations team is always on the phone communicating with the logistics team or the truck driver seeking visibility on the location, and now we seem to have these data points clear and visible and thus reducing dependency on the Head office or transporter or even the driver.
The data points also open up a new spectrum of insights to understand which protective packaging helps safeguard the cargo and which roads are better in eliminating in-transit damages.
Reactive to Proactive
Solutions can now trigger alerts in which a quantified exception is observed, like the truck going off-road or the trucks being parked along the road for longer or tampering with the container itself.
Not every industry is the same, but every factory within the same group of companies is even so different. Therefore, it may need a slightly different solution, and thus the available solutions are now available which modular and customizable as per the need and demand.
Investing in Capital in hardware or deployment is also the past as supply chain leaders prefer to go with the pay-per-use model as this trend is going to rise further.
With the adoption of new technologies by MSMEs, the trend to not add on more responsibility to the existing team in terms of training add more expectations on the IoT solution to be a plug-and-play kind of model and to be self-taught with no specific training.
No Added Responsibility
Its a need for the industry to seek not to add more work with new technology solutions. However, the solutions help in reducing the workload of the team members.
The Pandemic has taught all the supply-chain leaders to have more power and control over their supply chain. Thus, the trend is evolving from on-time delivery to ensuring redundancy in delivery to customers.
Having a technology partner working alongside you who could work alongside the in-house IT team and add value to increase the response towards the fragile market in a collaborative approach is an intelligent approach, especially partnering with frugal startups.
The supply chain is now End to end with more about planning, procurement, manufacturing, and logistics even for MSMEs. The value it creates can be used by over different departments to have an exponential outcome and also leads to empowerment of the company as a whole and the learnings of the team can be absorbed and put in the process rather than brain drain.
Looking at the security of the cargo and co-building a new solution with reimagination is an exciting approach to build a cost-effective and for the masses.
Complexity to Simplicity
The world is more complex, and the supply chain is now even more complicated with the possible combinations. Thus, using data to find a pattern in the complexity from afar of view is the need of the hour for the supply chain leaders. Therefore they need an immense amount of data and thus start working as the first step to create new data points.
Everything + Sustainable
We all now know that we seek a sustainable way ahead in the future, and it's a circular economy. This sustainability approach will create a lot of competitive value, and thus, we seek sustainable partners and ways of doing business
It is a great way to look at cargo theft not from a crisis perspective but from an opportunity perspective and leverage technology to do all the significant heavy lifting and become more empowered.
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