This article is a guest post by Eleanor Hecks, Editor-in-Chief at Designerly magazine. All views/opinions/suggestions are that of the guest writer. This Website may or may not subscribe to them.
Keeping up with the competition is challenging for all companies. Small businesses may have a higher hill to climb to stay up with modern technology. Fortunately, new devices and software tap into the power of the Internet of Things (IoT) daily.
1. Research Your Options
The number of IoT devices globally will reach 29 billion by 2030. If you did not find the program or appliance you needed in the past, it might be available now. You can also develop an app that logs into the cloud fairly inexpensively now.
Check out what your competitors use, and see if it would work for you or if there might be something even better available. Find similar brands that are not your direct competitors and ask them what tools help them most.
2. Get Smart With Inventory
One of the biggest helps for e-commerce stores is the ability to track inventory on autopilot. End-to-end services can determine how often people order and when stock gets low. They will save you time and effort. Punch in the parameters of when you want the system to place a new order or notify you of low stock.
The best programs also coordinate with the cloud and keep your online stock current. You will only sell items you have on hand and avoid winding up with an aggravated customer.
For big palettes of products, you can add sensors and find out where your shipments are at any point in the process. Some large warehouses may have trouble locating orders at times, but sensors can make finding them a cinch.
3. Manage Traffic Situations
Whether you have a fleet of vehicles you send out to customers’ homes, or you want your employees to avoid rush hour, the IoT makes it possible to see where bottlenecks occur and take a different route. Intelligent transportation systems analyze input from various data points and pull live information from vehicles. The systems can even improve the safety record of your fleet vehicles and save on insurance by detecting potential collisions and notifying the driver.
4. Save Money on Utilities
One of the biggest ongoing expenses for companies is the cost of utilities. Having lights on, air conditioning, heat, and water can add up and eat into your profits. Today’s smart thermostats tap into the internet and allow you to make adjustments even if you have forgotten them before leaving the building for the day.
Anyone on the maintenance crew can check in and make sure there is no strain on the system. You can also use smart lights to control if lights are on and when. Having the option to turn up the heat before people enter the building in the winter also keeps employees happier and may reduce churn or sick days.
5. Remotely Monitor Equipment
Manufacturers are seeing the benefits of the IoT for their operations. Utilize the power of sensors to monitor equipment and get notifications if the system detects shaking or potential weaknesses. If you can repair machines before they fail, you will save on downtime and reduce costs in the long run.
Businesses might see a 75% decrease in total failures and a 30% reduction in repair costs. You might also increase safety at the same time. Although it is rare, machines have been known to break and injure workers. If you could keep staff safe, technology would be more beneficial than just saving a few bucks.
6. Tap Into IoT for Customers
You can improve your customer satisfaction and engagement by tapping into the IoT. For example, stores might release an app. As the customer passes by the storefront, the software would ping them to come inside for a free sample or a coupon.
Not only does new technology help you market to your target audience, but it can track their buying behavior, give you suggestions to help with what products you purchase in the future, and show you which promotions you should run. Even the timing of an email can improve open rates when you have the data to make smart decisions.
7. Embrace Remote Work
There are both pros and cons to remote work. Around 74% of surveyed workers said working remotely made maintaining friendships in the workplace challenging. However, many people prefer doing their jobs at home and may even leave a position that does not offer the option at least some of the time.
Fortunately, the IoT makes managing a remote team easier. You can tap into tools such as communication platforms to keep everyone on the same page. Time trackers and project management software are readily accessible to all team members.
Another advantage of tapping into remote tools is the ability to work with clients around the globe. Share project specs and get input all in the same dashboard. Everyone on the team — including the client — gets access to where progress is occurring on a project.
Will the IoT Help Your Company?
In short, yes, it will. Implementing new technology into what you do can help save time on daily repetitive tasks and enhance what you are already doing. Weigh the pros and cons of any program, and decide if the investment will pay for itself over time.
You might find one program works better for you than another. Pay attention to the ones that give you the most significant return on investment and stick with them for the long haul.
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