As it has with other early adopters, the Internet of Things (IoT) is coming to the global supply chain industry as well. According to a report released this year by Deloitte and MHI, only 22% of supply chain industry executives say that they are currently using IoT technology. But 79% said they plan to do so within the next five years. This will allow buyers and sellers to track containers, pallets, boxes, and even individual high-value items as they move from one corner of the world to another.
In addition to optimizing delivery times, companies can soon use IoT supply chain solutions to ensure that products aren't damaged during shipping, and to remove counterfeit products from within the supply chain.