Critical Asset Monitoring in the Supply Chain

The complex system of supply chain relies on an integrated balance of trustworthy Internet of Things (IoT) devices to deliver streamlined solutions for all industries. According to an infographic from Invesp, 79 percent of companies with high-performing supply chains achieve greater revenue growth than the average companies within their industries.

Likewise, 70 percent of supply chain officers believe a successful supply chain serves as a key driver to enhanced customer service. A seamless supply chain can create comprehensive solutions for both businesses and customers.

How IoT Plays a Role

So, what is critical asset monitoring? Critical asset monitoring uses resilient IoT technology to do more than track goods from point A to point B. Sensors, GPS trackers, and cloud services provide real-time insights into your supply chain assets identifying and communicating not only location but temperature, shocks, tilt, and punctuality.

These IoT devices are equipped with either 4G LTE or 5G cellular technology and support local communications via BLE (Bluetooth Low Energy) and Wi-Fi.

Medical Instrumentation Case Study

When a leading developer of medical devices and lab equipment sought out supply chain improvements, KORE stepped in to solve the problem. KORE equipped the company with the comprehensive Critical Asset Monitoring (CAM) solution that enabled tracking visibility anywhere in the world. This kind of monitoring delivers powerful results in operational efficiency and customer satisfaction.

Critical Asset Monitoring is ideal for high value, vulnerable shipments in:

• Pharmaceuticals & high value medical devices
• High value equipment rentals
• Cold-chain monitoring
• Container tracking

Benefits of Asset Management

Some of the biggest challenges in the supply chain are due to poor company visibility within delays, causing negative implications for your business. An estimated 57 percent of businesses have poor visibility over their supply chains which can lead to inefficient inventory management, cloudy transparency, and mediocre customer satisfaction.

1. Increased Productivity: With asset monitoring and technology, productivity can be significantly increased by eliminating the gap for human error. Data entry tasks are no longer manually entered, but rather automated with IoT.
2. Quality Control: Asset management makes monitoring shipments trouble-free. With condition, temperature, and time tracking, visibility becomes much clearer for asset owners and the supply chain.
3. Inventory Management: The ability to closely monitor inventory without manual labour allows for less disruptions in the line of work. An increase of transparency for inventory management provides real-time updates on stock and reduces the chance for shortages.

KORE Critical Asset Monitoring Solution

From a high-level perspective, our Critical Asset Monitoring solution provides advanced results to assist businesses with their supply chain operations. It works through a tracker device and sends real-time data to the cloud to be processed, further preventing potential risks for fleet drivers.

The KORE comprehensive Critical Asset Monitoring solution is everything you need to deploy, manage, and scale your solution making it simple to reach your business needs.

To learn more about IoT in supply chain management, check out our infographic, “6 Steps to a Smarter Supply Chain”.