Every step of the supply chain system has experienced complications, beginning with global cargo movements down to individual outlets. These problems highlight the need for improvements that serve the supply chain and its business operations for the future. To address these perennial challenges, the industry is looking toward Internet of Things (IoT) based technologies as a potential solution. IoT and connected devices can help digitise supply chains, enabling a smoother and more efficient process.

How can technology help?

Wireless technology empowers companies to better track high-value and essential assets, spanning the global supply chain during a time of disruption.

Bluetooth® technology, along with other low-power wireless protocols, has already enabled solutions that can be used to mitigate the impact of the current supply chain volatility. IoT-based solutions such as asset management are becoming more widely adopted. In fact, it’s predicted that there will be 128 million Bluetooth asset tracking devices shipped globally in 2022 and there will be a 4x growth in annual shipments by 2026.

And asset tracking is not a new idea. While legacy logistical and tracking systems used to be sufficient, today’s businesses require more advanced tools to keep track of shipments, assets and inventory – leaving IoT devices and networks to fill that void and streamline supply chain processes.

Bluetooth asset tracking leverages intelligent and automated technology without creating extra burden for employees. The central components of Bluetooth asset tracking systems are battery-less network tags, which connect to a network and sends locational information to a central dashboard or hub that can be monitored. Tags, along with a network to scan the tags, and an interface to show the data are the key elements of an asset tracking solution. Bluetooth sensing devices track valuable assets throughout an item’s journey to give asset owners insight into the object’s location and shipping conditions from A to Z, along with the assurance that an item is en route to the correct location.

Some businesses that have yet to implement more modern solutions may think of these multifaceted asset tracking systems as daunting. However, all modern smartphones are Bluetooth compatible, so businesses do not need to learn new interfaces to operate and monitor their asset tracking systems.

Rather than teaching employees how to use an entirely new device, any Bluetooth device with authorisation can read and analyse the data. This information is not siloed in a single platform as the data first lives on a Bluetooth dashboard – users can then send the data elsewhere (including the cloud) depending on their needs.

Digital and physical storefront benefits

Better visibility always improves inventory and logistics management. Particularly, when inventory is already low, any system that improves operations will positively impact the bottom line. Tag tracking systems let manufacturers find misplaced items more quickly and can analyse and improve work-in-process (WIP) tracking so that the entire process runs smoother and faster. Fewer issues further up the supply chain ultimately mean fewer issues at the end of the chain.

Brick-and-mortar shopfronts, e-commerce businesses and local vendors might not be responsible for placing the tags or tracking a shipment across an ocean. However, they still benefit immeasurably from tag tracking. When an order, pallet or other tracked item is logged on the system, it now has a digital footprint, which gives the endpoint store a better estimate of where the item is and when it will arrive. Overall, this process gives businesses a more accurate picture of their inventory.

Asset management use cases

While Bluetooth asset tracking tags are seeing rapid growth in shipping and supply chain use cases, there are other real-life examples of this technology flourishing.

Machines do most of the heavy lifting in manufacturing facilities and they require regular maintenance and repair from time to time to perform safely. Bluetooth tags can help monitor the condition of equipment and benefit machinery. Users can set up alerts when it is time for a particular machine to receive updated maintenance. In other words, the same network that tracks orders coming and going can also be used to track equipment and machines for detailed data that keeps the warehouse in top shape.

Online retailers’ websites may not have a public-facing footprint, but the goods must be stored and delivered to customers from wherever the inventory is based. E-commerce stores depend on receiving what they ordered to fulfil customer orders and end the day with a proper inventory count. However, logistical issues can ruin those plans. An asset tracking system will let store owners monitor what inventory they have on hand to prevent overselling or overstocking particular products.

There is no ‘quick fix’ technology for port issues or domestic shipping challenges, but a Bluetooth asset tracking system can make the overall process smoother and more straightforward. Many small issues and slowdowns can be removed with the power of Bluetooth asset management systems, without placing an extra burden on operation and fulfilment departments. IoT solutions such as Bluetooth asset tracking systems are here to stay and can help alleviate supply chain pressures and pain points across industries.