The easy to predict nodes of information are changing constantly. The assets of logistics are now becoming a kind of information system in itself. In what is known as Internet of Things (IoT), actuators and sensors integrated in physical objects, from trucks to roadways, are getting connected through wired as well as wireless networks, commonly using the same IP (Internet Protocol) that is used to connect to the Internet.
This has resulted into creation of huge amount of data that flow to computer systems for assessment. It is important to note here that these physical information systems are have now started to be deployed, and some of them also work mostly without any kind of human intervention.
IoT is growing in a manner which has seen transportation firms operate on cost cutting, improving efficiency, and creating new possibilities for revenue generation. Some of the common applications of IoT in logistics and transportation involve sensing technologies for tracking and tracing the truck and fuel analytics and optimization that involves building of algorithms to optimize refueling centers, tracking any theft activities, and selecting best paths to have optimum advantages.
To date, few companies in any sector know how to work around IoT and technology that will allow them to create new business models or better revenue generating systems, but companies in logistics industry might be at a unique position to swiftly adopt to such systems. However, setting up and expanding IoT capacities needs something more than just breakthroughs in technology. It involves establishing a completely new set of business procedures, revamp in the organizational structure, and human resources. It also needs to keep a room for constant improvements to build up on the technology.