Top 10 ways Internet of Things and Blockchain strengthen supply chains

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• Most companies favor their blockchain pilots who focus on supply chain improvements (53%) and Internet of Things (51%) according to The latest blockchain poll of Deloitte.
• By 2023, blockchain will support the global movement and monitoring of $ 2T of goods and services each year on the basis of a recent Gartner
• By 2020, Discrete production, Transportation and amp; The logistics and utility industries are designed to be spent $ 40 billion each on IoT platforms, systems and services.
• The corporate software market Supply Chain Management grew from $ 12.2 billion in 2017 to $ 20.4 billion in 2022, reaching an annual compound growth rate of 10.7% (CAGR) according to The latest market forecasts for Gartner.
• Among the many blockchain and IoT Proof of Concept (POC) drivers in circulation today, track-and-trace shows the most significant potential to switch to production.

The combination of the distributed blockchain register framework with the real-time monitoring and monitoring functionality demonstrated by the Internet of Things (IoT) is redefining the supply chains. Blockchain shows the potential to increase the speed, scalability and visibility of supply chains, eliminating transactions of counterfeit goods and also improving batching, routing and inventory control. The shared and shared architecture of Blockchain is becoming a catalyst for the growth of the use and commercial use of IoT in organizations.

Blockchain and IoT are defining the future of supply chains based on the initial success of the Proof of Concept (POC) pilots focused on logistics, storage and traceability of supply chains through production. Supply chain drivers are the most popular today, with companies evaluating how to get more value from IoT using blockchain. A CIO recently told me that his company deliberately turns different POCs at the same time, adding "It's our test grounds, we're pushing the limits of the blockchain and IoT to see if they can solve our most demanding supply chain problems and we're learning a huge amount." The manufacturer's senior management team states that riders are worth it if they can find a way to increase their warehouse stock by only 10% using blockchain and IoT. They are also running the Proof of Concept pilots to optimize batching, the routing and delivery of goods, reduce fraud costs and increase the accuracy and speed of tracking and tracking. Among the many pilots in progress, track-and-trace shows the greatest potential to move on to today's production.

The following are the 10 main ways IoT and blockchain are defining the future of supply chains:

• The combination of IoT real-time monitoring support with Blockchain's shared shared registry reinforces track and trace accuracy and scalability, leading to improvements along supply chains. Improving traceability reduces the need for buffer stock by providing real-time visibility of inventory levels and shipments. Urgent orders can also be accelerated and redirected, minimizing interruptions in production schedules and customer shipments. & Nbsp; The combination of blockchain and IoT sensors is showing the potential to revolutionize food supply chains, where sensors are used to track freshness, quality and safety of perishable foods. & Nbsp; The multiplicative effects of the combination of IoT and blockchain to improve traceability and traceability are shown in the context of the following table of the Boston Consulting Group. Click on the graphic to expand to facilitate reading.

• Improving inventory management and reducing bank charges for letters of credit by combining blockchain and IoT show the potential for cost savings. A recent study by the Boston Consulting Group, Blockchain coupling with IoT to cut supply chain costs, has completed a hypothetical analysis of how a $ 1B electronic equipment company implements blockchain-as-a-service, a decentralized track-and-trace application and 30 nodes that share between supply stakeholders key chain could save. The study found that the electronic equipment company could save up to $ 6 million per year or 0.6% of annual sales. A summary of the business case is shown here:

• The combination of blockchain and IoT is providing the pharmaceutical and healthcare industry with more powerful serialization techniques, reducing counterfeit drugs and medical products. Pharmaceutical serialization is the process of assigning a unique identity (such as a serial number) to each weldable unit, which is then linked to critical information about the product's origin, lot number and date expiry. According to World Health Organization (WHO) Every year about 1 million people die of counterfeit drugs, 50% of pharmaceuticals sold through illegal websites are considered fake and up to 30% of pharmaceuticals sold in emerging markets are counterfeited according to a recent study of Search for DHL. DHL and Accenture are developing a blockchain-based prototype serialization of tracks and tracks, including a global network of nodes in six geographical areas. The system documents in full every step that a pharmaceutical product takes to the store shelf and finally to the consumer. The following chart illustrates the workflow.

• Improving distribution and logistics, keeping track of asset maintenance, improving product quality, preventing counterfeit products and enabling digital markets are the cases that Capgemini expects the blockchain to have the greatest impact. The potential contribution of IoT in each of these five areas of use cases continues to accelerate as real-time monitoring dominates production. Source monitoring, contract management, digital wires and commercial financing also show the potential for high uptake. The following chart illustrates the cases of use of the blockchain in the supply chain.

• The combination of blockchain and IoT allows manufacturers to pursue and excel at twinned digital initiatives through their value chains. A digital twin is a dynamic digital representation of a physical asset that allows companies to track their past, current and future performance throughout the asset lifecycle. The asset, for example, a vehicle or a spare part, sends data and performance events directly to its digital twin, even when it passes from the hands of the manufacturer to the retailer and finally to the new owner. Blockchain can be used to securely document everything related to the resource and IoT provides real-time monitoring and updates. Microsoft is VISEO they are collaborating to use blockchain to link the maintenance events of each new vehicle to the vehicle's digital twin. The graph below illustrates how digital twins simplify additive manufacturing.

• 54% of suppliers and 51% of customers expect organizations with whom they do business to take a leadership position on blockchain and IoT. Most suppliers and customers expect manufacturers, suppliers and suppliers with whom they do business to take a leadership position in these two emerging technologies and define a vision with them. The excellent studio of Deloitte, Breaking Blockchain Open, 2018 Global Blockchain Survey of Deloitteprovides information on how supplier and customer expectations are a determining factor in the adoption of blockchain and IoT, further contributing to shaping the future of supply chains.

• Consumer products and production lead to the adoption of blockchains today, followed by life sciences according to Deloitte's latest estimates. The adoption of IoT is thriving in production, transportation and logistics and public services. By 2020, each of these industries is destined to be spent $ 40 billion each on IoT platforms, systems and services. The following chart compares the adoption levels of the blockchain by sector. Given the way manufacturers are dependent on supply chains, high adoption rates for blockchain and IoT make sense. Click on the graphic to expand to facilitate reading.

• 32% of companies are adopting blockchain to achieve greater speed than existing systems and 28% believe that the blockchain will open new business models and revenue sources. Most manufacturers, transport and logistics companies and utilities have real-time monitoring running on their production plans and through their production facilities today. Many are moving from Wi-Fi enabled tracking to IoT, which creates a real-time stream of data that blockchain registers categorize and track to provide greater track and track speed and accuracy. A recent Capgemini survey found that 76% of producers also envisage a product-as-service strategy generate revenue in less than two years.

• Blockchain has the potential to offer between $ 80 and $ 110 billion worth of value in seven strategic financial sectors, when supported by the IoT, redefining their supply chains in the process. McKinsey has completed an in-depth analysis of over 60 feasible use cases for blockchain in financial services where the IoT would provide greater visibility through transactions. The combination of technologies has the potential to provide over $ 100 billion in value.

• Reduce the margins of perishable products and foods, increasing traceability, can be obtained by combining blockchain and IoT. IBM Food Trust uses blockchain technology to create more responsibility, traceability and visibility in supply chains. It is the only consortium of this type that connects growers, processors, distributors and dealers through an authorized, permanent and shared recording of food system data. Partners include Carrefour, Dole, Driscoll, Golden State Foods, McCormick and Co., McLane Co., Nestl & eacute;, the subsidiary of ShopRite Wakefern Food Corp., & nbsp; Food Group Purchasing Organization Topco Associates & nbsp; The Kroger Co., Tyson Foods, Unilever and Walmart. Below is an example of the traceability application of Food Trust:

Additional research:

Abdel-Basset, M., Manogaran, G., & amp; Mohamed, M. (2018). Internet of Things (IoT) and its impact on the supply chain: a framework for the construction of intelligent, safe and efficient systems. & Nbsp;IT systems of the next generation, & Nbsp;86, 614-628.

Boston Consulting Group, Blockchain coupling with IoT to cut supply chain costsOf Aunt Yusuf, Akash Bhatia, Usama Gill, Maciej Kranz, Michelle Fleury and Anoop Nannra. December 18, 2018

Capgemini & nbsp; Research Institute, & nbsp;Does the blockchain hold the key to a new era of transparency and trust in the supply chain?, 2018 (PDF, 32 pp., No explicit consent)

Research on trends DHL, Blockchain In Research, & nbsp; & nbsp; Perspectives on the imminent impact of blockchain technology and use cases for the logistics industry (PDF, 28 pp., No explicit consent)

Deloitte, Breaking Blockchain Open, 2018 Global Blockchain Survey of Deloitte, 48 pp., PDF, no consent. Summary available here.

Deloitte, Continuous interconnected supply chain, using Blockchain & amp; Internet of Things in the supply chain traceability (PDF, 24 pages, without activation)

Deloitte University Press, & nbsp; 3D opportunity for blockchain Additive manufacturing links the digital wire, 2018 (PDF, 20 pp, no opt-in)

EBN, Like IoT, AI, & amp; Blockchain enhances tomorrow's autonomous supply chain, 18 June 2018

Forbes, How Blockchain can improve production in 2019, 28 October 2018.

Forbes, 10 charts that will test your growth prospects for IoT, 6 June 2018

Gettens, D., Jauffred, F., & amp; Steeneck, D. W. (2016). The IoT can bring big savings in the after-sales distribution chain. MIT Sloan Management Review, 60 (2), 19-21. Accessible on the MIT Sloan Management Review website here.

Jagtap, S., & amp; Rahimifard, S. (2019). Unlocking the potential of the Internet of things to improve the efficiency of resources in food supply chains. Springer International Publishing & copy; Springer Nature Switzerland AG.

McKinsey & amp; Company, Blockchain over the hype: what is the strategic business value?, June 2018

McKinsey & amp; Company, Blockchain technology in the insurance sector, Quarterly meeting of the Federal Insurance Advisory Committee (FACI) 5 January 2017

McKinsey & amp; Company, The IoT as a growth driver, By Markus Berger-De Leon, Thomas Reinbacher and Dominik Wee. March 2018

McKinsey & amp; Company, How digital production can escape "pilot purgatory", & nbsp; by Andreas Behrendt, Richard Kelly, Raphael Rettig and Sebastian Stoffregen. July 2018

Miller, D. (2018). Blockchain and the Internet of Things in the industrial sector. & Nbsp;IT professional, & Nbsp;20(3), 15-18.

PwC, Global Blockchain Survey, 2018.

Queiroz, M. M., & amp; Wamba, S.F. (2019). Challenges of adoption of blockchain in the supply chain: an empirical survey on the main drivers in India and in the United States. & Nbsp;International Journal of Information Management, & Nbsp;46, 70-82.

Reyna, A., Mart & iacute; n, C., Chen, J., Soler, E., & amp; D & iacute; az, M. (2018). Su blockchain and its integration with IoT. Challenges and opportunities. & Nbsp;IT systems of the next generation, & Nbsp;88173-190

Smith, K. J., & amp; Dhillon, G. (2019). Supply Chain Virtualization: Facilitate agent confidence using Blockchain technology. In & nbsp;Review of supply chain risk& nbsp; (pages 299-311). Springer, Cham.

You, M., Lim, M. K., & amp; Yang, M.-F. (2018). Production logistics based on the IoT and supply chain system – Part 1. & nbsp;Industrial management and amp; Data systems, & Nbsp;118(1), 65-95.

You, M., K. Lim, M., & amp; Yang, M.-F. (2018). Logistics of production based on the IoT and supply chain system – Part 2. & nbsp;Industrial management and amp; Data systems, & Nbsp;118(1), 96-125.

Wall Street Newspaper, 5 Use cases of the supply chain for IoT, Blockchain, 8 November 2018

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• Most companies are giving priority to their blockchain pilots who focus on supply chain improvements (53%) and the Internet of Things (51%) according to Deloitte's latest blockchain survey.
• By 2023, blockchain will support the global movement and monitoring of $ 2T of goods and services each year based on a recent Gartner
• By 2020, the Discrete Manufacturing, Transportation and Logistics and Utilities sectors are expected to spend $ 40 billion each on IoT platforms, systems and services.
• The corporate software market Supply Chain Management grew from $ 12.2 billion in 2017 to $ 20.4 billion in 2022, reaching an annual compound growth rate of 10.7% (CAGR) according to the latest market forecasts of Gartner .
• Among the many blockchain and IoT Proof of Concept (POC) drivers in circulation today, track-and-trace shows the most significant potential to switch to production.

The combination of the distributed blockchain register framework with the real-time monitoring and monitoring functionality demonstrated by the Internet of Things (IoT) is redefining the supply chains. Blockchain shows the potential to increase the speed, scalability and visibility of supply chains, eliminating transactions of counterfeit goods and also improving batching, routing and inventory control. The shared and shared architecture of Blockchain is becoming a catalyst for the growth of the use and commercial use of IoT in organizations.

Blockchain and IoT are defining the future of supply chains based on the initial success of the Proof of Concept (POC) pilots focused on logistics, storage and traceability of supply chains through production. Supply chain drivers are the most popular today, with companies evaluating how to get more value from IoT using blockchain. A CIO recently told me that his company deliberately turns different POCs at the same time, adding "It's our test grounds, we're pushing the limits of the blockchain and IoT to see if they can solve our most demanding supply chain problems and we're learning a huge amount." The manufacturer's senior management team states that riders are worth it if they can find a way to increase their warehouse stock by only 10% using blockchain and IoT. They are also running the Proof of Concept pilots to optimize batching, the routing and delivery of goods, reduce fraud costs and increase the accuracy and speed of tracking and tracking. Among the many pilots in progress, track-and-trace shows the greatest potential to move on to today's production.

The following are the 10 main ways IoT and blockchain are defining the future of supply chains:

• The combination of IoT real-time monitoring support with Blockchain's shared shared registry reinforces track and trace accuracy and scalability, leading to improvements along supply chains. Improving traceability reduces the need for buffer stock by providing real-time visibility of inventory levels and shipments. Urgent orders can also be accelerated and redirected, minimizing interruptions in production schedules and customer shipments. The combination of blockchain and IoT sensors is showing the potential to revolutionize food chains, where sensors are used to track freshness, quality and safety of perishable foods. The multiplicative effects of the combination of IoT and blockchain to improve traceability and traceability are shown in the context of the following table of the Boston Consulting Group. Click on the graphic to expand to facilitate reading.

• Improving inventory management and reducing bank charges for letters of credit by combining blockchain and IoT show the potential for cost savings. A recent study by the Boston Consulting Group, which paired Blockchain with IoT to cut supply chain costs, completed a hypothetical analysis of how a $ 1B electronic equipment company implemented blockchain-as-a-service, a # Decentralized track-and-trace application and 30 nodes that share among the key players in the supply chain could save money. The study found that the electronic equipment company could save up to $ 6 million per year or 0.6% of annual sales. A summary of the business case is shown here:

• The combination of blockchain and IoT is providing the pharmaceutical and healthcare industry with more powerful serialization techniques, reducing counterfeit drugs and medical products. Pharmaceutical serialization is the process of assigning a unique identity (such as a serial number) to each weldable unit, which is then linked to critical information about the product's origin, lot number and date expiry. According to the World Health Organization (WHO) about 1 million people die each year from counterfeit drugs, 50% of pharmaceutical products sold through illegal websites are considered fake and up to 30% of pharmaceuticals sold in emerging markets are counterfeited according to a recent study by DHL Research. DHL and Accenture are developing a blockchain-based prototype serialization of tracks and tracks, including a global network of nodes in six geographical areas. The system documents in full every step that a pharmaceutical product takes to the store shelf and finally to the consumer. The following chart illustrates the workflow.

• Improving distribution and logistics, keeping track of asset maintenance, improving product quality, preventing counterfeit products and enabling digital markets are the cases that Capgemini expects the blockchain to have the greatest impact. The potential contribution of IoT in each of these five areas of use cases continues to accelerate as real-time monitoring dominates production. Source monitoring, contract management, digital wires and commercial financing also show the potential for high uptake. The following chart illustrates the cases of use of the blockchain in the supply chain.

• The combination of blockchain and IoT allows manufacturers to pursue and excel at twinned digital initiatives through their value chains. A digital twin is a dynamic digital representation of a physical asset that allows companies to track their past, current and future performance throughout the asset lifecycle. The asset, for example, a vehicle or a spare part, sends data and performance events directly to its digital twin, even when it passes from the hands of the manufacturer to the retailer and finally to the new owner. Blockchain can be used to securely document everything related to the resource and IoT provides real-time monitoring and updates. Microsoft and VISEO are working together to use blockchain to link maintenance events for each new vehicle to the vehicle's digital twin. The graph below illustrates how digital twins simplify additive manufacturing.

• 54% of suppliers and 51% of customers expect organizations with whom they do business to take a leadership position on blockchain and IoT. Most suppliers and customers expect manufacturers, suppliers and suppliers with whom they do business to take a leadership position in these two emerging technologies and define a vision with them. Deloitte's excellent study, Breaking Blockchain Open, of Deloitte's 2018 Global Blockchain Survey, provides information on how suppliers and customers' expectations are a determining factor for the adoption of blockchain and IoT, further contributing to shaping the future of supply chains.

• Consumer products and production lead to the adoption of blockchains today, followed by life sciences according to Deloitte's latest estimates. The adoption of IoT is thriving in production, transport, logistics and utilities. By 2020, each of these sectors is set to spend $ 40 billion each on IoT platforms, systems and services. The following chart compares the adoption levels of the blockchain by sector. Given the way manufacturers are dependent on supply chains, high adoption rates for blockchain and IoT make sense. Click on the graphic to expand to facilitate reading.

• 32% of companies are adopting blockchain to achieve greater speed than existing systems and 28% believe that the blockchain will open new business models and revenue sources. Most of the manufacturing, transport, logistics and utilities companies now have real-time monitoring in their factories and in all production facilities. Many are moving from Wi-Fi enabled tracking to IoT, which creates a real-time stream of data that blockchain registers categorize and track to provide greater track and track speed and accuracy. A recent Capgemini survey found that 76% of producers also envisage a product-as-service strategy to generate revenue in less than two years.

• Blockchain has the potential to offer between $ 80 and $ 110 billion worth of value in seven strategic financial sectors, when supported by the IoT, redefining their supply chains in the process. McKinsey has completed an in-depth analysis of over 60 feasible use cases for blockchain in financial services where the IoT would provide greater visibility through transactions. The combination of technologies has the potential to provide over $ 100 billion in value.

• Reduce the margins of perishable products and foods, increasing traceability, can be obtained by combining blockchain and IoT. IBM & # 39; s Food Trust uses blockchain technology to create more responsibility, traceability and visibility into supply chains. It is the only consortium of this type that connects growers, processors, distributors and dealers through an authorized, permanent and shared recording of food system data. Partners include Carrefour, Dole, Driscoll, Golden State Foods, McCormick and Co., McLane Co., Nestlé, the affiliate company of ShopRite Wakefern Food Corp., the group purchasing organization Topco Associates La Kroger Co., Tyson Foods, Unilever and Walmart. Below is an example of the traceability application of Food Trust:

Additional research:

Abdel-Basset, M., Manogaran, G., & Mohamed, M. (2018). Internet of Things (IoT) and its impact on the supply chain: a framework for the construction of intelligent, safe and efficient systems. IT systems of the next generation, 86, 614-628.

Boston Consulting Group, Blockchain association with IoT to cut supply chain costs, of Zia Yusuf, Akash Bhatia, Usama Gill, Maciej Kranz, Michelle Fleury and Anoop Nannra. December 18, 2018

Capgemini Research Institute, Is the blockchain the key to a new era of transparency and trust in the supply chain?, 2018 (PDF, 32 pp., No opt-in)

DHL Trend Research, Blockchain In Research, Perspectives on the imminent impact of blockchain technology and use cases for the logistics industry (PDF, 28 pp., No opt-in)

Deloitte, Breaking Blockchain Open, 2018 Global Blockchain Survey of Deloitte, 48 pages, PDF, no consent. Summary available here.

Deloitte, an uninterrupted interconnected supply chain, using Blockchain and Internet-of-Things in supply chain tracking (PDF, 24 pp., No opt-in)

Deloitte University Press, 3D opportunities for blockchain Additive manufacturing links the digital thread, 2018 (PDF, 20 pp, no opt-in)

EBN, such as IoT, AI and Blockchain give power to the autonomous supply chain of tomorrow, 18 June 2018

Forbes, as Blockchain can improve production in 2019, October 28, 2018.

Forbes, 10 charts that will test your growth prospects for IoT, June 6, 2018

Gettens, D., Jauffred, F., & Steeneck, D. W. (2016). The IoT can bring big savings in the after-sales distribution chain. MIT Sloan Management Review, 60 (2), 19-21. Accessible on the MIT Sloan Management Review website here.

Jagtap, S., & Rahimifard, S. (2019). Unlocking the potential of the Internet of things to improve the efficiency of resources in food supply chains. Springer International Publishing © Springer Nature Switzerland AG.

McKinsey & Company, Blockchain oltre l&#39;hype: qual è il valore aziendale strategico ?, Giugno 2018

McKinsey & Company, Blockchain Technology nel settore assicurativo, riunione trimestrale del Federal Advisory Committee on Insurance (FACI) 5 gen 2017

McKinsey & Company, The IoT come driver di crescita, di Markus Berger-De Leon, Thomas Reinbacher e Dominik Wee. Marzo 2018

McKinsey & Company, Come la produzione digitale può sfuggire al "purgatorio del pilota", di Andreas Behrendt, Richard Kelly, Raphael Rettig e Sebastian Stoffregen. Luglio 2018

Miller, D. (2018). Blockchain e Internet of Things nel settore industriale. Professionista IT, 20(3), 15-18.

PwC, Global Blockchain Survey, 2018.

Queiroz, M. M., & Wamba, S.F. (2019). Sfide di adozione della blockchain nella supply chain: un&#39;indagine empirica sui principali driver in India e negli Stati Uniti. International Journal of Information Management, 46, 70-82.

Reyna, A., Martín, C., Chen, J., Soler, E., e Díaz, M. (2018). Su blockchain e la sua integrazione con IoT. Sfide e opportunità. Sistemi informatici della futura generazione, 88173-190

Smith, K. J., & Dhillon, G. (2019). Virtualizzazione della Supply Chain: Facilitare la fiducia degli agenti utilizzando la tecnologia Blockchain. In Rivisitazione del rischio della supply chain (pp. 299-311). Springer, Cham.

Tu, M., Lim, M. K., e Yang, M.-F. (2018). Logistica della produzione e sistema di filiera basati su IoT – Parte 1. Gestione industriale e sistemi di dati, 118(1), 65-95.

Tu, M., K. Lim, M., & Yang, M.-F. (2018). Logistica della produzione e sistema di filiera basati su IoT – Parte 2. Gestione industriale e sistemi di dati, 118(1), 96-125.

Wall Street Journal, 5 casi di utilizzo della catena di fornitura per IoT, Blockchain, 8 novembre 2018