Be it banking & finance, retail, manufacturing & logistics, or healthcare & wellness, regardless of your sector, the wave of digital transformation is sure to sweep your businesses. One of the key accelerators of this wave has been the growth of IoT or the Internet of Things. But what does this change mean for your business? How does an IoT-powered track and trace solution benefit your organisation?
The most obvious answer to this question is that it improves work efficiency and boosts the productivity of the service providers at various touchpoints.
IoT-powered track and trace solutions have proven to raise the Customer Satisfaction Index (CSI) by
• Providing transparency and visibility throughout the supply chain
• Decreasing delivery turnaround time
• Reducing return to origin (RTO) of deliveries
• Providing perfect deliveries and improving Customer Experience (CX)
The Indian scenario
The Indian supply chain industry is largely unorganised. It still has several challenges to overcome that include:
• Processing enormous amounts of information
• Managing dispatches using multiple courier partners across geographies
• Reducing the RTO of articles
• On-boarding and managing stakeholders
• Regulation compliance
• Reducing costs and offering personalised experiences to multiple segments of customers to improve the CSI
Add to this multiple supplier, partner, contract manufacturer, and growing customer demands, and you have a complex challenge to face. Full visibility across the supply chains is crucial to stay ahead of the competition at all times.
The path ahead
New technologies are emerging that dramatically improve visibility across any end-to-end supply chain. The traditional linear supply chain model is transforming into digital supply networks where operational silos are being broken down and organisations are getting connected to their complete supply network. This is enabling transparency, end-to-end visibility, collaboration, agility, and optimisation. We are at the cusp of an explosion in the tracking and tracing field and are investing our efforts to work out solutions for multiple used cases of relevance.
Would it not make better business sense to know the exact location of secure articles like personalised cheque books and new credit cards when in transit to the end customer, or where a piece of equipment is in a large industrial warehouse, or to have the ability to track the exact location of a temperature-sensitive pharmaceutical product while it is being transported? With data constantly being received from devices, sensors, and tags, businesses can now manage workflows and turnaround times and predict estimated time of arrival all of which improve accuracy, efficiency, and the end customer experience.
We, at Seshaasai, are working on technologies to bring tracking and tracing to your fingertips. Our application software – eTaTrak – is driven by our AI-powered spatial intelligence platform, izeiot, and is currently being used by a number of our customers for tracking secure article deliveries to their customers.
The ability to accurately track and locate articles allows better optimisation that brings about coherence, value, and cost-effectiveness to the business, and can solve a long list of complex, business-critical operations. IoT powered trace and trace solutions have the potential to become the foundation for businesses to boost efficiency and productivity and deliver personalised experiences to multiple segments of customers across sectors.