Find My Pallet
IoT combined with basic warehouse tools has increased data accessibility in a variety of industries.
Warehouse pallets are essential contributors to the success of many industries. However, their value can be overlooked due to the unremarkable nature of the simply designed transportation equipment. Recently, steps have been taken to give pallets an innovative upgrade by combining the simplicity of the basic pallet with the complex advancements of IoT technology. This collaboration between conventional warehouse utilities and technology has created an opportunity for the logistics industry to utilize real-time information and location data to mitigate risks, increase supply chain visibility, and avoid the costs associated with pallet loss.
IoT, or the Internet of Things, refers to the connectivity between devices and the internet, featuring the abilities to process, gather and store a variation of relevant data. Upgrading typical warehouse utilities to cloud-connective devices allows employees and executives to track the location and status of their pallets. By combining IoT with pallets, industrial innovators have paved the way for greater efficiency with the accumulation of factors such as pallet tracking, the weight of the load, and the ability to monitor the temperature of any pallet. These factors allow for timely responses to potential catastrophes such as product damage.
Additionally, supply chain visibility has been an increasingly important factor for manufacturing executives. In fact, 47% of respondents to a survey expressed their willingness to consider utilizing technology to increase supply chain visibility. Technological innovation in the pallet industry has ultimately allowed for more efficient and accurate information to be stored, fostering a sense of accessibility to usable data.
IoT pallets may create a long-term solution to the costs associated with pallet loss and product damages alike. After researching IoT implementation within 1600 businesses, data revealed that 54% of all IoT projects were geared towards cost reduction. By introducing warehouse pallets to internet connectivity, IoT pallets have the potential to reduce the costs associated with loss and damage by generating timely responses to potential hazards. Pallet loss specifically accounts for 800 to 1.5 billion dollars in costs annually within the United States. Even if the pallet has left the warehouse, companies may now mitigate risk and decrease costs by utilizing technology that increases supply chain visibility.
References:
https://www.rm2.com/2021/04/07/are-iot-connected-pallets-a-solution-to-supply-chain-woes/
https://www.inboundlogistics.com/cms/article/pallets-backbone-of-the-warehouse/
https://www.shdlogistics.com/technology/plastic-pallets-latest-and-greatest-opportunity-iot
https://findstack.com/internet-of-things-statistics/
https://packagingrevolution.net/the-staggering-numbers-for-reusable-packaging-and-pallet-loss/
