TECHNOLOGY
advantages . Often manufacturers will see around 49 to 50 percent reduction on delivery lead times , and about a 30 to 40 percent improvement in overall on-time delivery accuracy . Producing locally to sell locally better serves local markets while maintaining low costs , which means moving closer to home in 2016 will seem like a logical step
How can IoT technology benefit manufacturers ?
Palmquist : A company like General Electric ( GE ) used to only make stand-alone physical engineering equipment like MRI machines , airplane engines , and oil drills . It sold them , and sold support contracts for them . Now , GE has pushed its IoT initiative , the Industrial Internet , to sell outcomes-based services to its clients , guaranteeing that GE ’ s smart machines and big data analytics — delivered through its own cloud-aware software platform — will provide specific , measurable efficiencies . GE has evolved from a being more than just a physical asset company . It ’ s now a data company .
Macy ’ s recently deployed sensors throughout its flagship stores based
on Apple ’ s iBeacon ( Bluetooth low energy ) technology . As customers walk around to different areas of the stores , the iBeacons present relevant deals on their smartphones . By seeing what sorts of deals and products provoke customers to respond , Macy ’ s can make changes to its assortment . In this way , IoT technologies like iBeacons can directly capture customer demand , and as they roll out , they ’ ll impact inventory and omnichannel strategy , which have their foundations all the
18 April 2016