The logistics industry works as a lifeline for the entire business sector. However, there are so many challenges that people working in this field face in their day-to-day life. One of the biggest troubles for the transportation and logistics industry is to ensure the protection of cargoes and assets. As logistics service providers need to move between multiple transport companies while ensuring enhanced transparency and optimal delivery times, blockchain appears one of the finest solutions for tracking and monitoring all transactions.
Reports reveal that IBM has collaborated with the logistics and transport industry to enhance system efficiency. The modern truck tracking solution combines the advanced features of Watson IoT and IBM Blockchain along with the Internet of Things (IoT) technology. These technologies may ease load mapping, local authorities, and clients.
Minimize the risk and error
In the early times, the supply chain transactions were managed manually and this process was prone to delays and recording errors. It can also cause considerable differences between what was loaded and recorded. When the process is digitized using IoT and blockchain, it gets easier to capture field information instantly with the help of sensors attached to the trucks. The information can be further added to the blockchain while creating a single, shared repository that can be accessed only by the authorized members. Furthermore, the information could be altered only after getting the consent of all parties.
Protecting cargoes and assets
The advanced truck-tracking solution is developed to monitor input-output weights while identifying the person and silo that will handle the load. This data is further correlated with external information like temperatures, humidity, weather, and driver’s details so that customers can avail most adequate updates regarding delivery times. Furthermore, there are many advanced technologies that can be utilized to enhance the efficiency of vehicles for long trips. Experts also advise using head studs for the most demanding conditions to improve the overall performance of the truck.
Security, transparency, and visibility
As soon as the truck leaves the specific distribution point, the system sends an automatic message to the respective customer while informing about weight, load, and estimated time for arrival. When the part of the delivery is returned, it is possible to automate the invoicing process depending upon load delivery. Furthermore, the sensors installed on the trucks help to generate an information repository through blockchain and IoT. It helps to track all transactions, stops, and exchanges made by the truck with the respective load. Moreover, it keeps complete track of the information ranging from the distribution point to the ultimate destination of the customer. Note that this enhanced level of transparency can boost accountability between customers and shippers while promoting the flow of business.
The modern collaboration between IoT and blockchain technology with cloud access brings opportunity for real-time access to data. It can help people to make informed decisions while benefiting their business.
Digitizing logistics and supply for shipping
Shipping is another important area where manual errors and delays can lead to lost profits and spoilage. For instance, in the case of a food truck, the shipping and delivery time must be well optimized. The missed interactions and improper communications can cause delays while causing spoilage of the material loaded inside. Therefore, it is important to digitize the logistics process to ensure fast and trouble-free shipping. With cloud-based storage and sensor support monitoring, there is no need to worry about managing so many papers. These advanced technologies may help logistics service providers to increase end-to-end transparency in the system while ensuring a secure information-sharing facility between trading partners.
It is observed that a two-way interaction system with IoT can empower fleet managers. This system can also help logistics managers to control the functioning of containers with ease. For instance, they can handle the presence of water, moisture, condensation-related issues with ease to avoid the development of bacteria and mold in the food trucks. The fleet managers can also handle remote operations with an evaporator-fitted system in the engine that helps to remove moisture and condensation from specific storage space. It can easily prevent the degradation of products during long journeys.
Furthermore, the integration of Blockchain with IoT also helps in the creation of relevant documents for small Bill of Lading. These documents can be further shared with different parties while ensuring cloud-based storage for easy access. Therefore, all authorized parties can stay updated with the specific terms of shipping and conditions of the materials depending upon information provided by IoT sensors.