Effects of IoT on Your Operations

In the last post we defined “What is IoT” for those that have never heard of the term. Now lets take a brief look at the effects of IoT on your business operations. Automating your business operations with smart products, machinery and other business assets will help you to deliver a greater customer experience.

The Industrial age allowed us to produce products on an estimated “push” supply and demand cycle. This meant that we would produce and stock pile products or gear up resources to meet the needs of a service offering. With IoT, we will have the ability to have a “Pull” supply and demand cycle. This means that all the connected devices will come into action based on the need for that product or service. Stock piling and wasting resources will be minimal to zero.

For example, if you needed a new pair of shoes, you would place an order for the exact shoes you wanted into the manufacturer and their 3D-Printers would turn on and build you the shoe you wanted. The 3D-printer would then inform a drone to deliver the product directly to your location with an electronic invoice from the accounting system. The shoe could also be fitted with smart technology to let the same manufacturer’s 3D-Printer to make a new one with your approval once it wears out after a certain number of steps. This is one of the concepts for improving your operations and the customer experience.

The IoT collects a huge amount of data on the activities performed by these smart devices connected through the internet. These analytics help in making the right decisions by a company to provide better service and reduce operating costs while maintaining a high level of control on the outcomes. Business improvement is always happening as a result.