The Internet of Things (IoT) describes the network of physical objects—“things”—that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the internet. These devices range from ordinary household objects to sophisticated industrial tools. With more than 7 billion connected IoT devices today, experts are expecting this number to grow to 10 billion by 2020 and 22 billion by 2025. Oracle has a network of device partners.
How organizations use IoT supply chain management
As sensors become cheaper, end-to-end supply chain monitoring is more common. Organizations track trucks and know precise arrival times of goods. Even after the shipment is received, operations workers know the exact location of products throughout their time in the warehouse or on the production line.
When the shipment is ready to go, the system monitors and reports movement down to the exact second and location. The proliferation of sensors means organizations can track individual items at their final destination on the shelf of a local store.
Having real-time information about every phase of operations lets organizations see and respond to disruptions quicker.