The predictable nodes of information are changing. The logistics assets itself are becoming a type of information system. In what’s called the Internet of Things (IoT), sensors and actuators embedded in physical objects, from roadways to Trucks, are getting linked through wired and wireless networks, often using the same Internet Protocol (IP) that connects the Internet.
These churn out huge volumes of data that flow to computers for analysis. What’s revolutionary in all this is that these physical information systems are now beginning to be deployed, and some of them even work largely without human intervention.
IoT is expanding in ways which transportation firms function – cutting costs, increasing efficiency & creating new revenue possibilities.
Broadly the IoT applications in logistics can be classified into three categories –
Some of the IOT applications coming up in road transportation are as follows –The highest concentration of use case can be found in sensing technologies such as track and trace as the other two require an ecosystem approach. While Processing technologies require internal organisational change, New Revenue model applications have larger scale applications that must incorporate both demand-side & supply side of logistics.
Fuel Analytics & Optimisation: Fuel comprises of around 40% of the running cost in Logistics. Fuel cost varies as high as 10% across states, fuel theft is widespread & fuel mileage is dependent on roads, routes and infrastructure.