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Cold Chain IoT Devices are an Inexpensive Solution for Minimizing Loss

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Today, many companies are looking to IoT(internet-of-things) to enable their products and services. Gartner predicts that by 2023, at least 50% of big companies will be using advanced technologies and analytics in supply chain operations (IT Convergence, 2023). IoT devices have completely transformed supply chain management in terms of its operational efficiencies and revenue opportunities through employing transparent mechanisms.

More than enabling supply chain managers to keep track of their products, modern supply chains are also using IoT to gain an edge over their competitors. Leveraging IoT in supply chain management makes it much easier to locate goods, track shipments, and identify where and when they are delayed in transit. Additionally, IoT devices monitors storage conditions such as temperature, humidity, shock and tampering evidence. This type of data helps companies focus on food safety, reducing spoilage, on-time deliveries, and better forecasting.

IoT devices and sensors replace traditional manual inspections and they provide the ability to track and manage goods in the entire supply chain. IoT devices have the ability to identify where and when goods are delayed in transit, allowing for contingency planning to speed up time to shelf.

A more streamlined supply chain through IoT also helps deliver improved customer service. Supply chain managers can access information through mobile apps, making delivery-time forecasting an exact science. It can even quickly determine delivery issues, and in effect, manage customer expectations.

Organizations are also looking more closely at best-practice around health and safety to ensure compliance not only with legislation but also with the ethical expectations of investors, customers, and other stakeholders (Supply Chain Digital, 2022). IoT sensors are a quick, reliable, and cost-effective mechanism to gather data to help shape compliance strategies and decision-making processes.

Morpheus.Network IoT data solutions

Morpheus.Network and IoT Solutions

As supply chain resilience and risks take center stage, Morpheus.Network- a SaaS middleware platform that provides exporters with a safe and secure Digital Footprint, and Hanhaa — an IoT innovator with an intelligent cargo tracking and monitoring device, have developed a unique solution to implement the new USMCA rules for cross border shipments traveling from Mexico to the USA.

While medical supplies are rightly being prioritized, food and beverage products are following closely behind. Using a shipment of premium drinks as a case study, Hanhaa and Morpheus.Network validated a use case for integrating food safety certificates with IoT data that improved time to shelf by 2x.

Morpheus also has partnered with IoTeX, a highly scalable, Layer 1, EVM-compatible open source blockchain network and development platform which integrates the benefits of IoT, AI and blockchain. IoTeX aims to address issues related to blockchain technology privacy, scalability, interoperability, and development potential. It uses a DPoS consensus mechanism for rapid transaction processing and a block-lattice data structure for scalability. Its unique hierarchical certificates (or “Know Your IoTeX”) lay the foundation for building trust among IoT devices with distributed ownership, privacy, and identity management.

Morpheus.Network leverages the IOT EX platform that uses IoT technology to create an ecosystem that allows organizations to share information securely through smart devices such as IOTEX’s own Pebble device. By utilizing IoT technology — such as the Pebble — organizations can address everyday issues head-on.

Morpheus.Network IoT data solutions

The document-sharing system built into the Morpheus.Network platform will allow for improvements across all areas of operation for their clients ranging from reduced costs and manpower to reduced time and complexity in international shipping. In addition, the Pebble device will provide Morpheus.Network customers accurate, trusted, real-time data on the visibility of physical products at every stage of the supply chain.

For instance, cold chain elements of food, pharmaceuticals, floral, or even aerospace each has its own unique requirements to meet established Guidelines or Regulations. From harvesting to the table, consumers expect quality and freshness for all the food they purchase. The life sciences industry is also highly-regulated, and leverages IoT data in order to ensure product efficacy and safety. In the aerospace industry, visibility and traceability of TATS materials ensure the quality and integrity of finished products (DeltaTrak, 2023).

Morpheus.Network is intensely focused on helping companies and Government organizations eliminate inefficiencies and remove barriers to optimize and automate enterprise supply chain operations. Their multi-award winning supply chain middleware platform leverages transformational digital technologies such as ML/AI, IoT and Blockchain and has over 150 integrations with leading companies, including SAP, DHL, Fedex, Cargowise, Telefonica, Marsh, Swift and more! Morpheus.Network helps clients maximize revenue through digitization and process automation, protecting sensitive data, and untangling complex issues with the legacy supply chain system while delivering effective, equitable, and efficient global trade solutions.

“If you fix the supply chain, you fix the world!” — Dan Weinberger, CEO and Co-Founder

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Cold Chain IoT Devices are an Inexpensive Solution for Minimizing Loss was originally published in Morpheus.Network on Medium, where people are continuing the conversation by highlighting and responding to this story.

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