ODYSSEY: The Leader in Defense Commerce Solutions Blog

How Big Data Will Affect Your Supply Chain

Posted by James Lusk on Thu, Sep 21, 2017 @ 14:09 PM

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Big data is a hot topic, but one of its most promising applications is in supply chain management. Leveraging big data to inform and automate your supply chain, especially for Department of Defense suppliers, is the next step to increasing your efficiency and reducing your long-term spend. Here are 7 ways that big data will affect your supply chain.

Full Automation

What if you had insight into your entire supply chain? And what if your supply chain ran itself? That’s the kind of future we’re talking about by using the Internet of Things through RFID technology to bring big data to your supply chain. Increasing automation means time savings, compliance assurance to meet DoD standards, and a supply chain that’s flexible enough to adjust to market changes.

Last-Mile Delivery

Traditionally the last mile of delivery has been a patchwork of outside carriers, transportation, and deliveries. Aligning big data with your supply means that you know where your products are at all times, ultimately offering insight into your entire supply chain.

Responsive Operations

By tapping into your data, you have the ability to be more responsive to changes in DoD requirements and in your environment. Project scope changed? Big weather front coming in? With full visibility and a connected supply chain, you can shift your operations easily. You’ll spend less time potentially fixing issues and more time optimizing your supply chain and ultimately getting paid.

Route Optimization

Even in our digital world, transportation is still time-consuming and expensive. Delivering products to different locations isn’t easy, and the expectations for smart supply chains are increasing. Connecting the Internet of Things to your supply chain means that you can optimize how you transport your products and get the right products to the right locations as efficiently as possible.

Address Verification

While our goods are connected and our data is abundant, delivery can still present a challenge. We’re at the mercy of systems that require physical addresses to deliver our goods and services. Leveraging big data and RFID to verify these addresses can reduce points of human error and introduce additional efficiency.

Risk Evaluation & Resilience Planning

Increased visibility and flexibility throughout your supply chain means that your operations are more structurally sound. Your risk is lowered, your ability to meet DoD compliance standards is increased, and you can plan for long-term complications that might affect your supply chain.

Contextual Intelligence

Amassing large amounts of data isn’t enough anymore. Having a contextual understanding of that real-time data and tying it into your business operations is what drives the most value for DoD suppliers. By connecting big data to your supply chain, you have the opportunity to gain a complete, holistic vision of your business and introduce additional efficiency into your supply chain.

In order to take advantage of these benefits of big data, you must have the ability to properly identify your supply chain structure as well as your sources of data. A smart implementation takes into account your entire operations process as well as your assets and internal stakeholders. While these are just a few ways that big data will affect your supply chain, Odyssey can help you implement these concepts so you can take advantage of the benefits of using big data to inform your supply chain logistics. Contact us today to learn how our cloud-based software can help prepare you for the next evolution of supply chain operations.

 

 

 

Topics: data, supply chain, IoT, RFID

5 Changes the Internet of Things Will Bring to Businesses in 2017

Posted by James Lusk on Mon, Jan 23, 2017 @ 10:01 AM

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The Internet of Things, or IoT, is not a new term or subject matter.  In fact, according to Datafloq, the term was coined in 1999, but the prediction of a connected world through handheld devices has been around since 1926.  While IoT has been discussed for years now, the way it is used is constantly changing and evolving.

IoT is commonly defined as, “a proposed development of the Internet, in which everyday objects have network connectivity, allowing them to send and receive data.” In September, we wrote about how the Internet of Things is the key to DoD commerce success. Turns out, it is beginning to impact pretty much every business industry.   

In 2017, experts are predicting some big changes for businesses and the Internet of Things.

IoT’s not near, it’s here.

Gone are the days of discussing IoT as “the future”.  Many industries will be completely disrupted as companies around the world begin to use IoT technology in the every-day running of their business. 2016 was the year that a lot of groundwork was laid, but 2017 will be the year it all comes to fruition.  Read more here.

Smart business is the focus.

Over the last few years, IoT has been heavily focused on consumer products. From Amazon’s Alexa to self-driving cars, consumers are slowly but surely beginning to welcome the Internet of Things into their lives. But this year, there will be a large push for more businesses to use the technology. Sukamal Banerjee, executive vice president and global head, IoT Works and HCL Technologies says, “As per our 2016 global IoT survey, 38% of organizations have already started their IoT journey, and 57% are currently planning to, thus, making 2017 an inflection year for Industrial IoT adoption.” Read more here.

Business is getting personal.

With IoT devices, businesses will have greater access to data, ranging from consumer behavior to manufacturing inventory changes. Companies will take advantage of greater access to data by making decisions- such as product recommendations, effective advertising and sales decisions- based off their findings. This data will also prove to be convenient as studies show that executives want their companies to focus more on data, and less on intuition.  Read more here.

Inventory management continues to evolve.

The ability to view, track, and monitor inventory will continue to improve through integration with IoT.  RFID tags will be able to hold and communicate even more information about an object, such as temperature, weather, traffic, damage to the object, etc. This will reduce the number of lost items, better identify inefficiencies and help companies make more informed decisions.  Read more here.

Efficiency is King.

The Internet of Things will continue to allow employees to produce more and larger projects in less time.  They will be able to focus their efforts on the important aspects of the business, rather than inefficiencies and manual work. Not only will they complete projects faster, but they will be able to do so more accurately.  Read more here.

2017 will be a big year for the Internet of Things, and businesses in every industry will start to see changes.  We are excited to continue serving our clients with this growing technology.  

 

 

Topics: Internet of Things, IoT, business technology, DoD