MSRvantage leverages IoT enabled traceability solutions to digitize supply chain management for businesses
By siliconindia | Friday, 06 May 2022, 14:09 IST
MSRvantage develops an enhanced traceability system using IoT sensors combined with blockchain for the supply chain industry which requires security and accuracy at every step. By implementing these solutions businesses can garner several advantages such as regulated temperature requirements, accurate tracking, elimination of counterfeit possibilities, security and safety in supply chain management.
Industries have faced unprecedent uncertainty post the pandemic making it difficult for enterprises to plan their operations. Introducing technology to digitize the supply chain process will enable the use of real time data to anticipate major events with great accuracy aiding in decision making and planning. IoT has completely transformed Supply Chain Management both in terms of its operational efficiencies and revenue opportunities by making it more transparent. MSRvantage's IoT service not only enables you to keep track of your products but also allows you to gain an edge over competitors. Leveraging IoT in supply chains makes it much easier to locate goods, track their movement, identify where and when they are delayed in transit and plan alternative routes, monitor their storage conditions (temperature, humidity, etc.), and estimate when they will arrive at a specific location. MSRvantage is using a connected cloud-based system & QR Scanner to monitor the shipments. MSRvantage is also using IoT in Transporation & Fleet Management by providing visibility over the entire fleet so that you know exactly where each truck might be and when, and which is the best route for it to take on any given day.
“Sudden demand changes, margin erosions, visibility shortages and any irregularities arising in the supply chain make it really difficult for companies to monitor and manage. Here data often flows through tiers creating potential risk of security related incidents including counterfeiting. IoT can be a formidable transformative force to address these issues and improve efficiency and traceability overall paving way for innovation.” Sivagopal M - Founder & Chairman of MSRvantage.
A supply chain mishap can dent the reputation of companies costing them severe losses. Besides, customers are certainly becoming more conscious towards notions of transparency, fair trade and sustainability. This makes it imperative for businesses to introduce technologies like IoT to solve significant glitches in the supply chain system, in traceability and provenance challenges.
MSRvantage focuses on low cost and scalable tech solutions that can be utilized by large and small-scale companies alike. With bringing IoT enabled traceability in supply chain manufacturing, MSRvantage aims to help organizations have real time visibility, end-to-end transparency to promote the secure exchange of data, eliminating possibilities of counterfeit and thus empower them to meet compliance requirements, getting through customers efficiently.
IoT is a game-changer for the logistics industry. In logistics and transportation, the Internet of Things can create machine-to-machine connections that enable vehicles, packages, containers, loading equipment, and other devices and assets to communicate with one another throughout the supply chain. Human beings don’t have to manually log information when smart devices can trap that data automatically. The Internet of Things provides logistics managers with control and transparency they couldn’t have seen coming before. It provides complete insights for improving decision-making and even assists in streamlining deliveries as an independent player. IoT technologies are transforming manufacturing like never before and are poised to bring in efficiencies, productivity enhancements, safety, and sustainability. Such technologies are also generating unique use cases in India as well, meeting the unique challenges that we have seen so far. The Indian government has made the “Make in India” initiative a priority. For Make in India to succeed, Indian manufacturers need to manufacture more efficiently, and cost-effectively and deploy all-around innovation to stay competitive. Industrial IoT will help do that. IoT can, not just transform our manufacturing sector but also serve as a strong platform for adopting clean, safe, and environmentally friendly manufacturing processes.
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