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Tracking Assets, Inventory, and People Driving IoT Adoption

In an October 2014 Forrester Consulting study commissioned by Zebra Technologies, experts found that issues with tracking assets, inventory, and people are primarily driving Internet of Things (IoT) adoption across the manufacturing, consumer products, retail, transportation, healthcare, and government industries.

Other findings in Internet-of-Things Solution Deployment Gains Momentum Among Firms Globally summarize organizations’ interest in IoT solutions, timelines for deployment, and technical issues. This article focuses on key drivers fueling adoption of IoT solutions.

IoT solutions deliver results

According to Forrester, most industries can leverage IoT solutions for asset tracking, security, and surveillance. “Firms address many issues using IoT solutions, including tracking and identifying assets or inventory, providing maintenance or inventory shortages, or highlighting spare parts availability. These IoT solutions are often combined to enhance an end-to-end process.”

Tracking Assets Inventory and People Driving IoT Adoption System ID

Transportation firms can use end-to-end IoT asset tracking applications to reduce fuel costs, quickly maintain assets, lower insurance rates, reroute vehicles in real time, and monitor buildings, offices, and workers.

Researchers cite examples of how transportation firms can use end-to-end asset tracking and monitoring applications to:

  • Track, monitor, and alert fleets
  • Use sensor-enabled solutions to track vehicle location, speed, and fuel usage
  • Receive maintenance alerts
  • Strengthen security and surveillance systems

In return, companies will:

  • Reduce fuel costs
  • More quickly maintain and service assets
  • Lower insurance rates
  • Reroute vehicles in real time
  • Monitor buildings, offices, and workers

These examples easily apply to other industries, as well. For instance, manufacturers can instantly track parts as they enter the dock and trace finished products to their final destinations using IoT solutions that analyze disparate data and make educated recommendations. This ensures better decision-making; global supply chain visibility; and compliance with industry, national, and international regulations.

Cisco CEO John Chambers agrees that the IoT is a game-changer. In fact, he likens IoT adoption to the Internet’s transformation of businesses and modernization of economies over the past 20 years, predicting that in the next 30 years, “We’ll see everything become connected—people, process, data, and things. This will expand our understanding of the world and the experiences we have, and we’ll generate new ideas and discover new solutions.”

Issues vary by industry

Industries share excitement for IoT solutions that address common identification, tracking, and security issues. But when you look at the data in the Forrester report, the list of drivers varies by industry.

For example, organizations list inventory levels as their highest concern in the manufacturing (62%), healthcare (60%), retail (59%), and consumer products (49%) industries. However, transportation companies cite fleet management (44%) as their biggest challenge, while government entities list asset identification and location (49%) as the primary driver for adopting IoT. Topping the list of least important IoT issues are tracking people and labor utilization.

The following chart displays key issues identified by each industry.

Forrester IoT Drivers by Industry

In its October 2014 report, Forrester found that companies in the manufacturing, consumer goods, retail, transportation, healthcare, and government industries believe IoT solutions will address issues tracking assets, inventory, and people.

 Connecting companies with technology

As the leading provider of business process automation technology and respected Zebra Premier Business Partner, System ID offers a wide range of barcode scanning, mobile computing, barcode printing, and software solutions for tracking assets and managing inventory. The company also supplies equipment and software that supports supply chain visibility, strengthens security, and proactively alerts businesses of scheduled maintenance and potential problems.

For the latest IoT solution developments, connect with System ID by subscribing to our blog; following us on LinkedIn, Twitter, and Google+, or phoning us at 888.648.4452.

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Jay Schofield

Product Business Development Manager at System ID Barcode Solutions
Jay Schofield’s passion is numbers. For more than 10 years, he has been turning facts and figures into actionable business intelligence for System ID. When he’s not researching, analyzing, and planning for the “next big thing,” Jay can be spotted on the lake with family and friends.

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