A World Economic Forum report on technology convergence finds competitive advantage is shifting from owning key technologies to combining them across data, people and ecosystems.
IoT is not a new technology in the logistics sector, and companies have been using it for years. Data-driven logistics improves the accuracy and speed of communicating information upstream and downstream in the supply chain. It also reduces human error in this communication.
When IoT sensor data is integrated with warehouse management systems, it offers better visibility of order fulfillment and inventory, allowing managers to process orders more efficiently.