New research by IGD predicts Internet of Things evolution in food and grocery supply chain

The Internet of Things has the potential to transform many areas of the supply chain, and with new research from food and grocery research charity IGD, shows that 37% of food and grocery companies are already trialling or have successfully deployed IoT products or services, with a further 58% planning to increase their use of technology provider to help them embrace IoT opportunities.

Assessing how IoT will create greater connectivity through data transparency and business partnership, change the way business operate and reinventing value through the creation of new services and applications, Chris Irish, Supply Chain Insight Manager at IGD, points out the nine predictions IGD is making about its evolution:

  1. IoT will increase opportunities for product and service personalisation, and help fuel growing expectation in this area
  2. IoT will even up supply chains by increasing visibility, and this mean companies will collaborate more as opportunities surface
  3. Companies will increasingly turn to service providers with expertise in technology and analytics to help them realise the opportunity
  4. Privacy concerns with sharing personal data won’t be a major barrier
  5. Forecasting will be constructed from individual consumer demand
  6. New business models will become dominant, based around services, subscriptions and crowd
    sourcing, accelerating radical restricting in the industry
  7. Consumer wont directly pay more for existing products to be Internet of Things enabled
  8. IoT will accelerate automation and AI, driving efficiencies and changing the capabilities and resource needed in supply chain
  9. There won’t be a “game-changing” IoT innovation

For more about IGD’s Internet of Things, click here: 

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