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 article elaborates on these 5 areas, It mentioned that production optimisation drives additional benefits for companies like Harley Davidson, where every step in its production is now tracked and recorded into a real-time performance management system. It also brought up the point that in an Forbes Insights survey, 64% of executives said that the overall management of the supply chain was a priority for their company. IoT technology can improve asset tracking and management, an area that is crucial for executives. IoT also plays an important role in financial decision making by providing real-time visibility that complements data from enterprise resource planning (ERP) and accounting systems and allows for a more holistic view of the enterprise. One of the most broadly applicable manifestations of the IoT is in its potential to help organizations improve the customer experience (CX).
With the proliferation of IoT in these 5 aspects, it can be expected for IoT to continue to drive impact and improve the bottom line for companies. With Xerafy’s expertise in creating value through its IoT technologies, Xerafy is well positioned to create business impact in the aspects mentioned.
How do you think IoT will continue to drive business impact in these 5 areas? Leave a comment below or drop us a email at firstname.lastname@example.org