Awareness and intelligence in the supply chain

Give businesses what consumers expect

Have you ever ordered a ride-sharing service and obsessively tracked where the driver is in relation to your pickup location? Now imagine you had to order the ride from one device, check the location via another device and mobile app, and finally pay with yet another service. You wouldn’t order many rides!

Of course, ridesharing is a straightforward type of industry to get from point A to point B, but why shouldn’t companies across the global supply chain expect the same level of simplicity with a unified solution that does plenty of accurate tracking, monitoring and control Real time?

An argument for better visibility and management of assets

In 2022, the global cost of inventory distortion — lost sales when a retailer doesn’t have a product that a consumer wants to buy when they want to buy it — is estimated to be $1.9 trillion. (Source: IHL group) Of course, there are many reasons a retailer might not have a product, including just-in-time inventory, late delivery, shortage of raw materials, spoiled merchandise, not knowing where items are located or if they are in stock, and more.

It’s clear that having a greater view of your assets leads to insights that reduce inventory losses, prevent bottlenecks, delays and disruptions, improve transit times, increase safety and save costs, to name just a few benefits. The need has never been greater, as demonstrated by the massive problems during the pandemic. Whether you face a major challenge or not, an efficient supply chain is an effective supply chain.

So how do you achieve this level of real-time surveillance, highly accurate awareness and intelligence?

Digital transformation is disrupting asset monitoring (in a good way)

The rise of connectivity and intelligent technology brings the benefits of improved visibility throughout an asset’s lifecycle in its supply chain. Rather than just being able to track when something leaves a warehouse, lands at a destination, or is sold, it can be tracked at every stage.

Almost anything can be wirelessly connected, from individual packages and pallets to forklifts, trucks and even drivers. Hybrid connectivity enables devices and packages to be connected via Wi-Fi, GPS or cellular networks for tracking indoors, outdoors and in transit. And advances like Wi-Fi 7 and 5G coupled with unified solutions like Qualcomm® IoT platforms create seamless handovers when transferring from one network type to another. Whether something is inside a building, traveling across a highway, railroad, sea, or in the air, it becomes possible to know its location.

Once connected, the next step is to maximize the power and intelligence of data collection and analysis. The Connected Intelligent Edge combines advanced wireless connectivity, efficient computing, and on-device AI, enabling devices to make fast and intelligent decisions about how and when data is processed in relation to the cloud. This allows massive amounts of data to be collected, processed at the “device edge” or sent wirelessly to the cloud and analyzed in near real-time, while ensuring devices maintain their battery life.

In addition, asset management solutions allow you to go beyond just location tracking and monitor conditions such as temperature or precise transportation time. This is particularly critical for goods with a shelf life such as food, pharmaceuticals and cosmetics.

Imagine all of these technologies working together and you begin to see what’s possible for wealth tracking in the digital age. From warehouse management to transportation and logistics, access to this information from a single source enables data-driven decision-making that can significantly improve operations and reap the benefits discussed earlier.

Customer example: Honeywell Track & Trace helps improve product traceability

A leading US pharmaceutical company needed to comply with regulations in various countries around the world that mandated the traceability of products throughout the supply chain. From changing warehouse processes and equipping employees with wireless devices to efficiently monitor product movements, to providing the ability for inspectors and sales reps to confirm the status of products on-site, a centralized, highly accurate solution was needed.

Honeywell has provided a solution for easy scanning; Photo courtesy of Honeywell.

Honeywell’s Track & Trace solution was chosen for its intuitive user interface, the ability to track and process data offline, and its ability to integrate with existing SAP systems. Using Qualcomm IoT platforms, the system worked with multiple mobile scanning devices including smartphones, forklifts, picking tables and more. It also ran on different platforms for secure support with minimal training as the app was easy to use.

The pharmaceutical giant has successfully implemented the Track & Trace program and rolled it out across three quarters of its global network. They have been able to meet compliance deadlines in multiple countries and have been set up to meet future legal requirements.

How can I improve my wealth management starting today?

There is no doubt that awareness and intelligence throughout the supply chain helps everyone win, from manufacturers and warehouses to transport/logistics companies, retailers and finally end users.

Deploying comprehensive IoT solutions to solve supply chain fragmentation is the primary way organizations can gain this much-needed visibility and insight. Qualcomm Technologies leverages 35 industry-leading wireless connectivity and computing platforms to help customers solve complex problems, including asset tracking, monitoring and control. We provide end-to-end solutions that integrate with existing programs so you can start your business’ digital transformation as quickly as possible.

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Qualcomm IoT platforms are products of Qualcomm Technologies, Inc. and/or its subsidiaries.

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