Internet of Things (IoT) has emerged as the thriving platform which has leveraged all sectors. It plays a vital role in establishing the interconnection, managing inter-connected devices and maintaining inventory, digital watermarking and identifying uniquely through tools like QR codes and RFID. In the last few years, it has been seen that IoT has grown tremendously in the past few years. As per the experts, in the upcoming years, there will be more advanced developments in the IoT technological domain. In the current scenario, a lot of IoT devices can be seen all around that establish an internet connection to share information.
IoT devices play a crucial role in tagging and monitoring the products, but in addition to this there are many more things that can help out. A few years back, no one might have wondered that IoT can help the e-commerce platform as well. With the advancement in the technology, it has become possible. Let us have a look on various benefits that e-commerce has acquired due to IoT technology.
Role of IoT in E-commerce
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Inventory Management
In the current scenario, e-commerce portals keep a track on their inventory with the help of ERP. The system can give the notifications for updating the status about current inventories, item sold and items required within the inventory. If IoT is applied to the inventory tracking system, real time updates can be availed. IoT based inventory system, will give the update about the incoming and outgoing stocks without any consuming any human hours. Also, the user can update various information directly to the ERP system; manufacturer’s name, product type, expiry date and batch ID.
The real time system can also be installed to reduce the time in the best possible way. It can be also used to notify customers about the arrival of new stock. This will eventually help in identifying the requirements of customer and resulting of this, there will be an instant rise in the revenue.
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Managing Logistics and Delivery Process
Real-time tracking is no more a new subject for a very long time, but IoT enabled devices has boosted the process by adding various capabilities to it. Some of the capabilities include managing speed and route by the logistics crew. This is possible upto a certain limit, but when added with IoT device; a concept like delivery of products through drone can become possible. The existence of drone may sound real sci-fi.
Now, there is also a possibility that drone might get fault while making the delivery, in such case, you would expect to make the delivery ASAP. Such faults can be overcome, by adding IoT technology to the device. It can help you to add rules and avoid hassles. You can also track the delivery time of the order and thus, providing the best quality service, you can get a good brand reputation.
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Tracking After Sales
Keeping an eye on warranty periods and specifications of various products is not only important, but also a daunting task. An IoT e-commerce system can help in updating the information on warranty period and purchase date. It can also help in notifying and sending the warranty offers to the customers without creating any technical issues. Such systems will also help in tracking the validity and period of the Annual Maintenance Contracts. With regular notifications to the customers, you can acquire customer satisfaction and high revenue through the sales.
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Customization
Nowadays, customization has become very crucial for every business. Using IoT in e-commerce can help in customizing offers and delivery updates. As per the customer’s activity, you can easily track the client’s preferences and accordingly you can send them customized offers. Since, IoT technology also offers a superb automation of delivery process, thus logistics management can be turned as the simplified one. This can also help in streamlining the delivery management in a better way.
The bottom line is, IoT is creating a platform where e-commerce can gain huge benefits. So, in order to make a boom in the marketplace and to acquire high productivity, each e-commerce website will follow the IoT technology. However, most of the reputed online stores have already started using IoT technology and resulting of this, they are enjoying a huge fame across the globe.
