How Business Intelligence and Analytics Help You Gain Competitive Advantage - Bar Code India

 

How Business Intelligence and Analytics Help You Gain Competitive Advantage

According to McKinsey & Company, “By 2025, smart workflows and seamless interactions among humans and machines will likely be as standard as the corporate balance sheet, and most employees will use data to optimize nearly every aspect of their work.”

The rapid rise of Business intelligence and analytics (BI & A) has transformed reality as we knew it over a relatively short period.

What is BI &A?

BI focuses on past events and patterns, while analytics examines why they occurred and predicts future outcomes. Together, they collect and analyze data to drive insights and predictions.

Advanced technologies like AI and machine learning are used in quality BI & A solutions to compile and analyze complex supply chain data quickly. BI & A are essential for companies to increase productivity, cut costs, and boost revenue by making data-driven decisions, giving them a competitive edge in the business ecosystem. Read more....

Source Link:- https://barcodeindia.com/blog/how-business-intelligence-and-analytics-help-you-gain-competitive-advantage/

All That Entrepreneurs Need To Know About Supply Chains, Right Here! - Bar Code India

 

When you come up with a new range of products, say, a winter clothing range, then the final realized product that reaches your customer’s doorstep is the result of a long sequence of processes. This entire network between a company and its suppliers that enables the production and distribution of a product to the final buyer is called a ‘supply chain’.

A supply chain, therefore, is a series – or rather – a chain of steps. It involves a very large number of people who specialize in separate parts of the process – producers, vendors, warehouse operators and managers, transportation companies, distribution centers and finally, retailers.

The Role of Supply Chains in Business

In today’s world, it is impossible to ignore the role that supply chains play in business. Let’s explore the various ways in which they help businesses. Read more....

Source Link:- https://barcodeindia.com/blog/all-that-entrepreneurs-need-to-know-about-supply-chains-right-here/

Selecting Barcode Solution Providers: What to Keep in Mind - Bar Code India

 

The global barcode market is estimated at nearly $30 billion in 2020, expected to grow over 33% to $40 billion by just 2025. The Indian market itself is expected to grow at a CAGR of 16.8% between 2019-2024. On a closer look, this significant increase in demand, and the sector’s growth, aren’t surprising.

We’re referring to Barcode solutions here – the umbrella term used for a variety of products and features:

⦁ Software that powers traceability and efficient tracking and tracing of inventory
⦁ Supported by hardware components like mobile computers, printers, handheld scanners, infrastructure,

Barcode systems are used to automate data collection to make processes less time-intensive and much more efficient. Specialized software is an integral part of these services – allowing for unparalleled efficiency in tracking and tracing inventory, simplifying sales reporting, and minimizing costs. Read more....

Source Link:- https://barcodeindia.com/blog/selecting-barcode-solution-providers-in-india-what-to-keep-in-mind/

How E-commerce Companies Can Achieve 10x Customer Satisfaction Using RFID - Bar Code India

 

If you are someone who runs or a part of an e-commerce business, imagine this scenario:

One of your customers orders something from your online store.

After the order is placed, you discover that the item purchased is out of stock. How embarrassing would it feel to admit this goof-up? And what impression of your company will that customer have?

Do you think that customer would ever recommend your platform to friends or buy from you again?

You wouldn’t just lose one customer; you would lose several potential customers as well.

You will not only lose people in the customer’s close circle but also countless others if there are many such instances and there are several negative reviews for your platform.

Today, there’s a fierce competition in the e-commerce sector and it’s the need of the hour to have technology such as RFID at the backbone of an e-commerce business. Not only will it enable you to cut through competition but also create new business opportunities.

What is RFID technology?

RFID technology offers automatic identification and tracking of objects or entities by making use of radio-frequency waves. Broadly, RFID technology can be of two types: Active and Passive. Read more....

Source Link:- https://www.barcodeindia.com/blog/how-e-commerce-companies-can-achieve-10x-customer-satisfaction-using-rfid/

Internet of Things: Why Is It Needed Now? - Bar Code India

 

The Internet of Things (IoT) is described as a network of physical objects or “things” that are inserted with sensors and software, so that they connect and exchange data with other devices and systems via internet. These devices could be an ordinary household item like a smart bulb to sophisticated industrial equipment. With more than 10 billion connected IoT devices, experts are expecting this number to grow to 22 billion by 2025.

Now imagine this, workers in a factory that are continually talking simultaneously could result in chaos. But with IoT, devices can constantly report their status to a receiving computer that uses information to optimize decision making.

Why Is IoT Important?

Since the past decade, IoT has become one of the most important technologies of this century. IoT has made it possible to connect everyday objects—kitchen appliances, cars, thermostats, baby monitors—to the internet via embedded devices, which has led to seamless communication between people, processes, and things.

With easy access to low-cost computing, the cloud, big data, analytics, and mobile technologies, physical things can send and receive data with minimal human interference. In a world which is so hyper-connected, digital systems can record, monitor, and adjust each interaction between connected things. Read more...

Source Link:- https://www.barcodeindia.com/blog/internet-of-things-why-is-it-needed-now/

Ways IoT is transforming businesses today - Bar Code India

 

The Internet of Things (IoT) is the fastest technology offering new outlooks and opportunities in almost all sectors, starting from retail, pharmaceuticals, tourism, transportation, logistics, manufacturing, and health care.

This technology updates us with real-time information; instead of telling us what will happen or what has happened, it gives us complete information on what is happening at a particular moment.

IoT technology is opening the doors for doing business in more advanced ways. IoT makes your business brighter, your homes into smart homes, and cities into smart cities. It is a total digital transformation, helping businesses run with new possibilities and in advanced ways. It helps with minimal human intervention.

IoT applications open new doors for business by providing several new possibilities. The use of IoT has transformed industries in how they operate and communicate. Many companies are using Industrial IoT (IoT), the next level of IoT technology, to remain competitive in the modern market. Read more...

Source Link:- https://www.barcodeindia.com/blog/ways-iot-is-transforming-businesses-today/

IoT & SCM: A Match Made in Heaven - Bar Code India

 

With millions of goods being transported through land, sea, and air each day; spanning the entire globe through a complex network of logistics and delivery, it was the natural order to move towards automating as many supply chain processes as possible to minimise wastage. What perhaps was a greater incentive was the human effort and time saved in doing so.

For any logistics company or vertical, there is a multifaceted web of routes, people, equipment, warehouses, etc, that must be carefully stitched together. Add to those global markets and we have ourselves a pressing need to optimize supply chain workflows. And as logistics and warehousing costs skyrocketed after Covid, companies have now increasingly begun to adopt IoT technology.

Why IOT is important to SCM?

Current supply chains have multiple data points. However, often these data points are collected and analyzed independent of each other. This is where IoT shines! Adopting an IoT system can not only integrate ‘smart’ interaction of data from various data points but can also help automate routine processes. Read more...

Source Link:- https://www.barcodeindia.com/blog/iot-scm-a-match-made-in-heaven/