Asset management with IoT at home:

I have a car, home and few home appliances inside the home; these are the only assets I have, why do I need asset management with IoT? Let me answer your question; anything can be tracked globally with geo-smart tags and RFID (radio frequency identification) technology. You can keep track of groceries in the refrigerator with a smartphone, so you can’t be unhappy when refrigerator doors are opened, as sensors let you know well in advance to your smartphone what items are completed. When you can have the smart tags for vegetable why can’t you have it for the car, jewelry and other valuable things, they could be tracked via various web applications either.

Asset management  with IoT at a big warehouse:

You could have observed that store guys usually search for the goods claiming ladders and cramming under desks when you go to Costco, Walmart or any other big stores or supermarkets which usually have a big warehouse. Imagine Amazon’s warehouse how big it could be with a wide variety of products. RFID drastically increases the accuracy by reducing human effort and errors as it reads multiple tags once and any item can be easily tracked.

IoT for Inventory Management:

Most of the big organizations have a huge inventory tied up with a lot of money. Typically inventory is 10-20% more than necessary for many organizations. Usually, any organization can have 10% more than inventory, However, to maintain excess inventory need to invest 5% worth of space and efforts. Eventually, to have useful insights, decision-making and cost saving for the management we need IoT with smart geotags. Yes, I know what your doubt is, to do this we already have sophisticated inventory management and ERP systems why do we need IoT?

Let me answer: End of the day your typical inventory system shows that how much stock consumed and how much remaining, how do you know the machinery may need maintenance, it may require few parts from inventory soon, this gap can be bridged with IoT. That is why SAP, Oracle, PeopleSoft and other popular ERP products are getting integrated with IoT. Trust me every tool; every technology has its limitation, a few years later when IoT is ruling the world we will understand the limitation of IoT. 🙂

Rented house management with IoT:

Imagine you are the owner of four houses which located in four different cities and you rented them. Why can’t you track the furniture, interior and the whole property on your mobile phone? If that happen at a lower price, definitely you would opt for that. Indeed, it can occur with IoT.

IOT for Human Management:

Who knows? In future people may have RFID tags for each to locate their boyfriends/girlfriends or a couple may use to find their spouse where he/she is? As the relationships are getting so synthetic and considering the relationship as just an asset today. 🙂

Managers may use smart tags to track their team members.

Parents may use geo-smart tags to find where their kids are roaming?

Anything can happen with technology. Already people are losing the privacy with social media, in future full transparency no privacy with latest technologies. 🙂

Let’s see the IoT revolution 🙂

Narasimha Mohan

He is the Author, Product Specialist, Business Consultant, Entrepreneur, Public Speaker, Thought provoking writer, and Joke writer. Follow him on Twitter