If you are manufacturing or supplying goods then you need to ensure that they remain in perfect condition from the time they are created until they are delivered safely to your customer’s home.
This means you need to monitor your goods on every step of their journey, whether you’re producing them, storing them, or simply sending them to the end customer. In fact, there are several benefits to real-time monitoring of goods.
Monitoring means knowing where your products are. In a manufacturing sense, this means an inventory of all the different materials and the states of production. This allows you to keep track of the production process and ensure units are completed on time. It also ensures you’re aware of when the components need to be re-ordered.
In a supplier setting real-time monitoring means knowing how many of each item you have and where they are, whether in the warehouse, on their way to you, or being dispatched to a customer.
The Benefits Of Real-Time Monitoring:
There are several benefits you should be aware of:
Businesses need to minimize costs in order to make money. Real-time monitoring ensures that all products are recorded; there is no danger of them being ‘lost’; which directly affects your bottom line.
It will also help you to establish the right stockage level, allowing you to supply customer needs without having too many funds tied up in stock.
One of the biggest risks when holding and shipping products is damage. Damaged items cost companies thousands of dollars every year, that’s why you need a good product liability policy.
Storing them in your warehouse is one thing, the risks are controllable and the stock is visible. But, what about when it’s in transit?
That’s where an impact indicator is useful. This will tell you and your customer whether the product has been mishandled during transit, potentially saving you the cost of replacing it.
Perhaps the biggest benefit of real-time monitoring is your reputation. In the modern digital age, most customers will leave a review of your product and the service. It can take a long time to build enough favorable reviews that other customers will choose your product first. Unfortunately, just a few bad reviews can undo this hard work very quickly.
Real-time monitoring allows you to confirm the customer has received the items and they know if there is an issue whether it is with you or the delivery service.
All you need to do to gain a good review is respond quickly and fairly if a fault is discovered, even if the issue is with the delivery service. Your intervention will speed up the process, creating a happy customer and a positive review.
This will lead to more customers as they will be impressed by how you helped your customer resolve the issue.
In short, your real-time monitoring will help you to build your customer base and increase your profits, that has to be a good thing.