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By: Faslu Rahman

Redefine your E-commerce with IoT

Bill Gates long before stated a famous quote that, Information technology and business are two those elements that have become inextricably interwoven. 

This quote often gets grounded when I think about E-commerce. Yes, today am going to talk on E-commerce and the role of IoT in redefining the E-commerce business industry.

I don’t think there is a need to expand the phenomenon Internet of Things, which is popularly called IoT to the public, as the concept is already popular in its working space and people have already literate themselves on IoT technology and its attributions. The concept has become widely advocated and has triggered many minds on the extensive application. With the advent of IoT, the business has taken a revolutionary path in terms of communication channels. The gap between the business and its customers have narrowed down, bringing them in close proximity to one another. 

Internet of Things (IoT) - The New Standard
The hype around the Internet of Things is getting the rise. People widely search in Google, get discussed in Twitter and write them on LinkedIn. It seems like every day the innovations in IoT is taking place and every day a new company comes with the announcement of their IoT enabled product.

From the analysis drawn, IoT, the interactive devices have already marked its space and started penetrating deep into the lives of individuals. Right from the wearable like Apple’s smartwatch, wear bands that detect your babies sleeping patterns, Nokia Sleep that detects individual sleep cycle, cars that run on individual’s commands,  Internet of Things have made its footprint in all lifecycle. The IoT solutions like Smart Homes and Smart Cities have surpassed everything till date, giving birth to a new dimensional technological era for the future. 

Needless to say, the Internet of Things have also widely influenced the E-commerce market. The increasing adoption rate of Internet technology and a significant rise in the number of online shoppers, the E-commerce market has boomed itself to a powerful persuasive platform. According to researchers, the future of E-commerce is well-apprehended and it’s expected to mark its footprint as the future of retail. In 2016, E-commerce sales were 1.86 trillion US dollar as is expected to gross 4.48 trillion US dollars by 2021.

redefine your ecommerce with iot

Like the other major industries, the E-commerce industry also witnessed the technical disruption. The increasing number of online shoppers have made it mandatory for the business enthusiasts and key E-commerce players to leverage the interactive technology in the business sector to delight their customers and retain them as their prospects. 

One will not show his reluctance in the adaptation of IoT enabled devices in the E-commerce business if he really gets to know the potentiality and extensiveness of the application. 

This blog jots down the use cases of IoT in E-commerce industry, how IoT enabled devices can help global retailers in their data exchange, enchanting better customer experience, upgrading in terms of competition and profitability and more.
 Have a look.

Redefine Inventory Management
1) Multiple Warehouse Management.
2) Restocking of bestselling goods.
3) Packing and Shipping.
4) Temperature setting for perishable goods.
5) Real-time monitoring and inventory tracking.
6) Reduce human errors.

IoT adoption assures with a seamless inventory tracking. IoT sensors and RFID tags offer robust solutions in real-time management of inventory, streamlining every business operations. IoT enabled devices can showcase highly effective and efficient monitoring and tracking of inventory items. All information with respect to product types, the name of the manufacturer, barcodes or the batch IDs, expiry dates of the products can be easily acquired and automatically updated in the system with the help of IoT devices. IoT within E-commerce thus can reduce the percentage of human intervention in managing the backends, significantly reducing the human error in inventory management.

The solutions like Smart shelves within E-commerce inventory can rule out the possibility of stock outs, thus can alleviate the problem of customer dissatisfaction. The E-commerce industry can real-time track the availability of products, their numbers in stock and can automatically replace the stock as it reaches the reorder level. The IoT solutions like temperature monitoring sensors can take care of the life of perishable items within the E-commerce industry, via checking the optimum temperature and giving real-time alerts in case of need. As we dig deeper, the potentiality of IoT in E-commerce is large. The extensive applications like forklifts aid in predictive maintenance, keeping intact the company production and productivity. In addition, warehouse robots help in better packing and picking process within the warehouse. In short, one can smartly manage E-commerce with the Internet of Things. Isn’t it that smart enough???

Redefine Supply Chain Management
1) Real-time tracking of location.
2) Alleviating problems like misplacement or loosing of goods.
3) Assuring standard delivery dates.
4) Qualitative deliverables.
5) Managing routes and speeds.
 
Obstacle-free and smooth supply chain underlines the success of the E-commerce industry. An IoT enabled E-commerce, can help with the movement of goods from one location to another. IoT sensors and devices can real-time track the movement of goods, assuring smooth operation from production stage to delivery stage. 

RFID and GPS help in tracking the goods while in transit. These interactive devices can play a vital role in giving complete information about the product location, current temperature, assuring qualitative and glitch-free product delivery. With the help of RFID and GPS, the E-commerce business can easily manage the routes and speed of their shipped goods, assuring the promised delivery dates and also eliminating mishaps like product loss or their misplacements.

Amazon has introduced drones to assure same-day delivery for their customers. These kinds of IoT solutions not only enhance the operational excellence in businesses but also redefines and remodel the so-called professionalism in carrying business. An E-commerce that runs on time, which values their customers and stick to their commitments is always advocated as the best choice among the mass. So what you think??? Are you ready to deploy Internet of Things in your E-commerce? 

Redefine Consumer Experience
1) Differentiates from competitors.
2) Comprehensive shopping experience.
3) High-level personalization.
4) Better and efficient advertising.
5) Understanding current trends and patterns.  
6) Quick problem resolving and enhanced customer experience. 

IoT enables e-commerce businesses in differentiating themselves from the other E-commerce tycoons. Adoption of IoT devices like a smart mirror can help the clients in virtually trying their clothes and other wearable’s, offering a completely new experience to clients.  The American multinational retail corporation, Walmart has invested in IoT technology for getting insights on products that are popular in social media platform. This again offers a comprehensive shopping experience to customer base amounting to a high degree of customer satisfaction and customer engagement. 

Secondly, the adoption of IoT in E-commerce helps in reaching the right targets via personalized advertising. The IoT devices can critically analyze the trends and shopping patterns, browsing histories and patterns, thus mitting the right targets. IoT thus can help E-commerce in coining the right products and services based on customer choice. IoT makes it easier for marketers to study customer preferences and later craft persuasive tactics for their repeated purchasing. Most importantly, IoT can also help in easy resolving of compliances, bringing qualitative changes in customary service.

Regardless of the major listed in the above, one can also redefine the product promotion with IoT in E-commerce. One can keep their loyal customers happy and satisfied via making the best use of IoT technology.  IoT solutions like “smart” shelf tags, popularly called e-tags help in offering real-time promotions to targeted customers solely depending on their buying habits. You might be wondering how? Yes, there are IoT solutions that can well very fit in the E-commerce sector, act intuitive in collecting data for delivering promotions. Also, E-commerce should be thankful to the IoT appliances that immensely contributed to handling the wear and tear of equipment under use. Leveraging IoT into these applications can eliminate the long waits for technicians in solving the issue. E-commerce can also track warranty periods with IoT.

In nutshell, Internet of Things can help E-commerce to grow faster and efficient. There is no doubt that the future of E-commerce will be dominated by the key play of augmented reality, artificial intelligence, and the Internet of Things. 

With the introduction of Odoo 12, the open source platform has rephrased the ERP community via adopting IoT technology. The new Odoo IoT module is robust and self-reliant in offering an out-of-the-box solution to every business sector. Odoo IoT module helps in connecting varied gadgets to the core platform, offering more extensiveness in application and usage. Odoo thus helps in accelerating the market acquisition of business industries, no matter what size they are. 

To know more on Odoo IoT you can refer our previous blogs: Odoo IoT Box Integration and Odoo 12 IoT

Cybrosys Technologies is an exponent in Odoo ERP since 2008. We can create and customize your proposed IoT integration meeting all your requirements. 




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