Rethinking Supply Chain Management in a fast-changing digital world
The 4th industrial revolution is making its imprint on industries and manufacturers as more companies begin to adopt IoT technology. With companies digitizing their operational processes, automated inventory management will become more prominent. It will disrupt existing operational processes, requiring companies to rethink the concept of what supply chain mangement means.
Industrial IoT technology powering the future of the smart factory
Manufacturers are increasingly turning to industrial IoT technology to improve factory efficiency and prevent machine failures. Recent trends such as the proliferation of data-powered capabilities and the convergence of the digital and physical worlds have made the transformation of the supply chain increasingly possible. As industries move towards Industry 4.0, the idea of a smart factory is becoming increasingly conceivable where manufacturing is powered by IoT.
An upward trajectory of Asset Management across industries
We are in exciting times for the development of RFID asset management solutions. RFID Asset Tracking has been trending in many industries, as companies are looking to adopt predictive maintenance capabilities to manage their assets. As RFID tag costs are decreasing and RFID tags are becoming more customisable, they become more accessible to companies who wish to utilise RFID technology to manage their assets. 30 years ago, it was only restricted to the large institutions. Currently, there is a lot of potential for the future of RFID Asset Tags. RFID Asset Tag Management cuts down on the inaccuracies of manual recording, allowing companies to save costs. As the “Next Big Thing”, here are some trends to show that RFID Asset Management is becoming increasingly prominent in the industrial scene.
IoT technology bringing business impact to operational and industrial processes
The Internet of Things (IoT) is poised to have a big impact on how things can be designed and sold. Increasingly, there have been more companies that are looking at how IoT technology can be leveraged in their operations. From an article on Forbes, 5 areas are identified where IoT has the most impact within industrial companies. The 5 areas identified are production optimisation, supply chain management, asset tracking and management, financial decision making and customer experience.
The characterisation of the Oil and Gas Industry through technology
The advent of technological advances has allowed oil and companies to digitize their operations and make their proccesses more efficient. This has revolutionised the oil and gas industry, as new digital technologies are becoming increasingly intertwined with the oil and gas value chain. With 2019 arriving in a couple of days, let’s look at how technological trends will further re-define the oil & gas industry in the coming year.