The IoT brings opportunities

The impact of these technologies on the industry is estimated at $1.9 trillion in added value.

It’s hard not to regularly come across IoT success stories. For example, after adopting an IoT-based asset tracking platform at its Lewisville, Texas, manufacturing plant, Ericsson  recovered 2 percent to 5 percent in savings on spare purchase spending.

With the advent of the global COVID-19 pandemic and intermittent supply chain shortages, IoT technology provides visibility into the transportation conditions of various materials.

Open-source IoT and cloud software

The Industrial Internet of Things (IIoT) offers businesses opportunities for digital transformation and added value, but also makes supply chains more vulnerable to hacker attacks. APIs, commonly targeted by hackers, often have closed-source code, making it harder to detect vulnerabilities and leading to potential damage and loss. In contrast, open-source software, with its accessible code, allows vulnerabilities to be identified and addressed more swiftly.

The value and opportunities unlocked by the IoT are undeniable, but why is open-source development for supply chain IoT technology so important? Here are some of the advantages of open-source IoT technologies for the supply chain specifically and global commerce in general:

    1. Reconcile disparate manufacturers

    2. Preserve the value of existing investments

    3. Built on industrywide standards

Professionals that want to know how much company they’ll have by adopting or migrating to an open-source IoT supply chain platform just need to do a little digging. According to   findings from the World Wide Web Consortium (W3C):

    ● 77 percent of developers in the IoT space use open-source protocols to build platform-agnostic hardware.

    ● 71 percent of IoT developers use open-source assets to build frameworks, libraries and software modules.

    ● 68 percent of developers building IoT devices and systems use open-source components to create data-sharing tools.

    ● 64 percent of IoT developers use open-source assets to build embedded operating systems.

    ● 64 percent of IoT developers use open-source platforms and assets to build device-side IoT platforms.