Gartner 2020 Hype Cycle for Supply Chain Strategy Shows Internet of Things is Two to Five Years Away from Transformational Impact
Analysts to Discuss Supply Chain Strategies and Innovations During the Virtual Gartner Supply Chain Symposium/Xpo in EMEA and the Americas
“IoT is in the trough because we see that many companies are implementing the technology, but they struggle to define the best opportunities for using its measurement and tracking capabilities,” said Mike Burkett, vice president distinguished analyst with the Gartner Supply Chain Practice. “We see further potential to grow its use over the next several years. Gartner estimates that installed IoT endpoints for manufacturing and natural resources industries are forecast to grow to 1.9 billion units in 2028. That is five times from 331.5 million units in 2018.”
For supply chain leaders, looking to implement or expand IoT capabilities, it’s important to work with subject matter experts to identify supply chain processes that can benefit from IoT. “In some cases, processes will have to be redesigned to accommodate IoT capabilities. If the subject matter expert is an external provider, supply chain leaders should always check how they might use – and possibly monetize – captured data,” Mr. Burkett concluded.
