How IoT assurance helps manage cold supply chain risks

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How IoT assurance helps manage cold supply chain
risks
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How IoT assurance helps manage cold supply chain
risks
To keep up with the needs of consumers and
shippers, the cold supply chain sector is
constantly evolving. The suppliers of cold chain
products had to acclimatize to the changing needs
as people changed their consumption patterns.
According to a report published on Allied
Market Research, The global cold chain logistics
market is very vast, valued at USD 159 billion in
2018 and is expected to reach USD 585 billion by
2026, registering a compounded annual growth rate
(CAGR) of 17.9 from 2019 to 2026. Understanding
the importance of cold supply chain
management In the wake of the Covid-19 pandemic,
the cold supply chain has become more relevant
than ever as the vaccines that require stable
refrigerated temperature are being transported
around the globe to get to you in usable or
unspoiled condition. According to IQVIA Institute
for Human Data Science, The pharmaceutical
industry loses 35 billion a year due to failures
in temperature-controlled logistics chains. An
efficacious cold supply chain ensures that
temperature-sensitive products are kept within
optimal temperature ranges and maintain the
desired state from start to finish. While the
cold chain is a logistics management process that
involves performing a chain of tasks to prepare,
store, and transport products along the cold
supply chain, the quality of the shipment may be
compromised if the cold chain shipment is not
kept cold at every link of the chain, resulting
in useless products.
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How IoT assurance helps manage cold supply chain
risks

• According to Earl Perkins, Research Vice
  President at Gartner, The pace of innovation has
  generated requirements for millions of devices,
  most network (primarily wireless) connected in
  some capacity. Unfortunately, most of these
  devices have little or no protection at the
  software and infrastructure levels.
• Challenges afflicting Cold Supply Chain sector
• Since the handling of environmentally sensitive
  products requires close monitoring under
  prescribed conditions throughout the supply
  chain, it is essential to manage specific cold
  supply chain risks.
• Few major challenges encountered in the cold
  supply chain sector are as follows
• Difficulty in maintaining the specified range of
  temperature throughout the supply chain.
• Lack of understanding about cold supply chain
  best practices.
• Ensuring compliance with temperature
  requirements.
• Lack of effective security measures affecting
  supply chains auditability and integrity.
• By leveraging digital solutions like IoT
  assurance experts with cold chain management,
  enterprises can expect higher revenues, reduced
  costs, and increased speed-to-market.

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How IoT assurance helps manage cold supply chain
risks

Enterprises are marching inexorably toward
becoming digital businesses warranting
efficiencies in productivity, cost savings,
better customer experience, and other competitive
advantages. The world is increasing the
visibility and importance of cold chain
management to transport the COVID-19 vaccine.
Using an IoT solution built around several
multipurpose sensors to monitor inventory reduces
inventory inconsistency, improves product safety,
and maximizes the ROI of temperature-controlled
material shipment. Cignitis IoT assurance
experts have in-depth experience in testing
end-to-end logistics transportation management
software. Cigniti has a proven track record of
establishing 100 test automation to several top
ranked Fortune 500 third party logistics
providers, ensuring a seamless user
experience. Cignitis Test Center of Excellence
(TCoE) has helped achieve vast benefits to
customers involved in Supply Chain business, and
the IoT assurance experts are well equipped to
deliver heightened customer experience assurance
across the cold supply chain sector. Read Full
Blog at https//www.cigniti.com/blog/iot-assuran
ce-cold-supply-chain-risks
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