We have been writing about IOT (The Internet of Things) since 2015 not realizing that the story didn’t end there. IOT, or the physical devices that can connect and exchange data, was just the basic concept until the internet universe kept expanding. IOT focuses predominantly on physical objects communicating with each other. Now, we have “The Internet of Everything,” which reveals a broader picture. According to TechGenix, in an article written by Angela Karl, The Internet of Everything is believed to be the process that brings people, data, and things together to make networked connections more relevant and valuable. Amazingly, one great thing about our current state of affairs is that we can rely on IOE to keep our businesses running smoothly from anywhere in the world.
What is the Internet of Everything?
In simple terms, it involves connecting any device with an on-and-off switch to the Internet. This is especially crucial as businesses are sending people home to work remotely.
According to Business Insider, “This coronavirus outbreak has raised concerns across the globe, with more than 113,000 confirmed cases worldwide.” The spread of this virus and its prevention have affected the core foundation of our economy, from the stock market to small businesses. Pandemics have happened before; however, this coronavirus has tested the measures that we have in place for our business processes. So, by now, you should know. Is your business prepared?
This is especially true in our data management world, where you can test your processes and business continuity plans by asking yourself, “If my business structure shifts, can I withstand this change?” Do you have systems in place to store data, interact with suppliers, and create/maintain new business all in one place? You need to have all your solutions in one place or portal.
Adapting Your Supply Chain Strategy for Changing Times
Be prepared. Know that your business paradigm may change. Even if you have these measures in place based on consumer demands, your supply chain might be affected by other businesses’ changes in procurement. Make sure that you have access to multiple suppliers outside of your preferred vendor network. Start engaging in these relationships now. Reach out, connect, and ask them about their business continuity plan.
How fast can your system onboard these newly engaged suppliers? Is the onboarding process quick, easily accessible, and efficient? Does it have the flexibility to work across a global forum and be accessible anywhere in the world? Can you receive applications and make approvals with your team without being in the same place simultaneously? This is important. We live in an era where the IOT is helping us stay connected, especially when you have access to business solutions that can not only maintain but expand your business during changing times.
We are all in this together…. Is it time for your business to level up? We are here to help. Let us know.
