5 Powerful Ways Enterprise IoT Can Improve Your Business Efficiency

Once a niche technology, the Internet of Things is today a technology of choice for companies that want to improve efficiency. Because of its benefits, IoT still keeps a high position on the list of top tech trends enterprises need to know about in 2022. Read on for the top 5 ways using IoT can revolutionize your enterprise.

Inventory management

Barcoding systems have been used in inventory management for quite a while. However, barcodes still required someone to scan each item individually for an accurate count or location. With sensors coming into play, warehouses are becoming “smarter.” Nowadays, an affordable RFID chip can be put on products allowing real-time visibility into quantities and locations. Businesses can now pinpoint an item’s location during shipping using built-in GPS technology.

IoT technologies bring additional advantages to food storage facilities. By assigning sensors to food packaging, operations can be alerted when a product is nearing its expiration date. This way, companies can minimize spoilage, as they can make informed decisions about product rotation and promotions before they expire. Furthermore, another benefit of IoT companies is that they can automate stock reordering processes using predictive analytics. Instead of having a stock controller manually checking when stock needs to be reordered, the IoT system can automatically place orders based on data on previous orders and sales trends.

Gain control of your fleet

If a considerable part of your company’s business involves deliveries, home, or office visits, you might have a fleet of vehicles to use. Plus, if there are considerable distances to travel, you would probably like to avoid excess wear and tear of your cars. New technologies allow enterprises to track numerous data about their vehicles and how drivers use them and use this data for multiple benefits.

For example, they can use it to optimize routes their employees will take, minimizing the time they spend on the road and mileage placed on vehicles. IoT in enterprises’ fleet management consequently increases productivity and fuel efficiency. It also makes it possible to tell if a driver is consistently spending more time in a location than they should or taking longer-than-necessary routes. Coaching or corrective action can help them become more efficient in those cases.

Improve workplace safety and security

IoT devices can enable employers to ensure workforce safety and enhance workplace security. Enterprises can now use embedded sensors and wearables to constantly track employees in high-risk settings like heavy industries, mining, and construction and alert them of any danger. Physical security is a vital part of keeping an enterprise safe. Even with on-site security guards, enterprises could benefit from installing smart security cameras.

These cameras could reduce their staff workload and help them investigate potential incidents more efficiently. For example, AI-powered IoT cameras can differentiate animals versus people or familiar persons from strangers. Companies can also use smart locks to supervise office premises. This way, they can shield their significant assets.

Improve customer service and experience

Excellent customer service is a critical factor in ensuring the success of any enterprise. Advanced IoT technologies are now widely used in small businesses to improve customer experiences. The mobile card readers connect to smartphones so that the customers can handle transactions smoothly. Smart trackers enable them to monitor their products, improving their satisfaction levels. Today, many enterprise companies use IoT in hyper-local advertising to provide their customers with a premium experience and meet their expectations.

And with the COVID-19 pandemic wreaking havoc worldwide, enterprises try to answer their customers’ expectations the best way possible. Concerned about their health, people want to lower the risk of infection and are looking for ways to minimize physical contact. For example, to help their customers protect themselves from COVID-19 and improve their customer experience, Schindler Elevator Corp. has developed a mobile app. This app enables users to call and use elevators via their smartphones without touching the panel.

Streamline employee communications

Working as a salesperson in retail can be challenging. Customers expect sales assistants to know all the answers about the products right away and get nervous if they don’t. However, to get the info they need, sales assistants either have to use radios to communicate with the stockroom staff or scanners to read barcodes and keep their customers waiting. However, IoT-based communication solutions can simplify this process.

Wearable devices with voice recognition technology enable employees to request information about stock levels, determine the location of specific team members, or talk to their colleagues and get timely info about products.

Wrapping up

Now that you are more familiar with the top ways IoT can help improve your business efficiency, you’re a step closer to finding a solution that will fit the needs of your enterprise.