The forces of the Fourth Industrial Revolution have launched a new economy that demands the use of smarts technologies. With the ability to enable integration between the physical and digital world, these new forms of technology have enabled data to be collected from everyday technology and be used in the physical world to drive informed business decisions.
The Nature of Business in the Fourth Industrial Revolution
The shift from the Third Industrial Revolution to the Fourth Industrial Revolution is changing traditional business models. From an economy driven by digital technologies, we have moved to one based on the smart use of information derived from IoT technology. With that said, businesses now need to use smart technologies to gain access to vital information that will enable them to drive efficiency and productivity in their business.
How Has Smart Technology Changed the Logistics Industry?
Iot technology from the Fourth Industrial Revolution has provided tremendous opportunities for the logistics industry to grow. Through their ability to generate huge volumes of data, they have managed to transform fleet management in the following ways:
1. Improved Fleet Utilization and Efficiency
Using telematics gives you complete control over your vehicles and drivers. With real-time vehicle GPS tracking, you get to know where your vehicles are at any point of time. This makes it is possible to track and deal with issues such as unauthorized stops. Furthermore, fleet managers can provide drivers with information on the fastest routes they can use to meet delivery deadlines by integrating their telematics device with a third-party navigation device such as Garmin. This will not only lead to efficiency, but will also ensure productive use of your fleet. Read more on how to use Geotab’s Route Optimization tool.
2. Improved Safety of Vehicles and Drivers
According to the World Health Organisation, South Africa has one of the poorest road safety records in the world, with about 1 million road accidents reported annually. Incorporating Geotab’s fleet management system into fleet management processes can help you quickly detect and act against reckless driving habits that harm your vehicles and threaten the lives of your drivers.
3. Helped Reduce Fuel Expenditure
Reducing fuel costs has been regular struggle for fleet operators. But by connecting your vehicles to IoT, fleet managers to can better understand and identify bad driving habits that contribute to high fuel consumption. A report by Frost and Sullivan shows that telematics can potentially help you cut fuel costs by up to 25%.
4. Reduced Mechanical Wear and Tear
Your fleet is the lifeline of your business. Without it, there would be no business. Therefore, taking care of your vehicles is very important. This can be accomplished by installing Geotab’s GO7 devices into your vehicles. With the ability to generate data on the vehicle’s engine oil level, brake temperature and so on, you can monitor your fleet’s health via the MyGeotab software. In addition, you can create service requirements alerts. This allows you to provide preventive maintenance and make sure vehicles are running for longer in a safe manner.
5. Ensured Compliance with Environmental Regulations
Driving over the speed limit or idling excessively contributes to the carbon footprint of your fleets. But leveraging telematics can help you reduce emission levels and create an environment that is ecologically friendly. By monitoring driver behaviour, fleet managers can track and take prompt action against unwanted driver habits that harm the environment.
Resources
Author: The Geotab Africa Team
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