Smart Product Demand
The use of smart connected products has been rising steadily in recent years with the sector estimated to be worth $16b by 2023. With the current economic climate and the uncertainty which has become widespread due to the COVID-19 pandemic it is likely that uptake will increase significantly, which begs the question: why are these products so popular and just how can they help to take the strain off of businesses in 2021 and the years to come?
The smart connected product sector is estimated to be worth $16b by 2023
The capability that appears to be at the forefront of this paradigm shift is the creation of ‘digital twins,’ a manifestation of a product or process that can be accessed through computer software and tested or manipulated at a fraction of the cost of doing the same with their physical counterparts.
The data derived from these products is fed back through the Internet of Things (IoT) which provides ‘real-world’ information on their usage thus eliminating the need for guesswork. While the products and digital twins work harmoniously with the IoT they are also able to exist independently from it and therefore are not always limited by the requirement of an internet connection.
Digital twins work harmoniously with the IoT
Seamless Movement of Goods
A real world example of how digital twins can streamline and simplify a process is the end-to-end supply chain visibility made available by Physical2Digital (P2D).
A process which had once consisted of hardcopy certifications and permissions has now been placed onto an API and SaaS enabled data platform, allowing simulations to ensure the viability of practice. This digital twin allows users to map out points where certifications are required, areas where there is the highest risk of delay so they can be mitigated and giving both the traders and carriers peace of mind before they begin their journey saving both time and vital funds. P2D achieves this by providing a full digital seal process that secures the movement of goods, assigns liability to each actor in the supply chain and provides evidence of tampering with goods.
The smart products (seals) connect through the IoT to provide a full vehicle load manifest at single item level with all digitised declarations attached, including customs declarations, Sanitary and Phytosanitary (SPS) certificates and schedules. The platform delivers GPS coordinate visualisation of the movement of goods and proof of final destination when the documented recipient receives the goods in transit along with vehicle and driver data, this is then forwarded to all required authorities at the point of load through either API or a Cloud user interface via a secure log in. The system is able to integrate with and serve data to the EU Traces system if required and can be developed, tested and deployed rapidly.
The platform provides full GPS coordinate visualisation
All products that are currently processed on the P2D SPS platform have the necessary data requirements to enable automated Meursing code mapping. Product suppliers, importers and exporters that are not on the P2D platform will be able to access and use the Meursing code platform and capabilities. P2D supports major retailers, suppliers and exporters of food items to rapidly index their product catalogues and assign the appropriate tariff codes including the Meursing codes. This enables compliant export declarations to be created and transmitted to the CDS system. Currently, there is a significant risk that UK supermarket retailers and other exporters of food products will not be able to create complete customs declarations, or use the TSS service for support based on a lack on product categorisation and tariff mapping.
Instant ability to begin working with our platform
By digitalising the entire process of the transport of goods, operators, hauliers and end recipients can ensure the smooth transition across borders and the agility to contend with changing legislation and other restrictions that may be put into place as the world is still affected by COVID-19. It appears that digital twins, and their smart connected counterparts, may well be the future for industry. The more efficient processes they provide along with the reduced costs and optimisation capabilities make it an appealing offer across all sectors and many businesses may choose to adopt it for future proofing. Further advancements in the technology promise that these capabilities will one day not only be reserved for such large scale tasks as mentioned here but also become available for the smaller, daily processes that make up daily tasks for many in the work place, something which P2D is already
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