Key security challenges

As
the IoT solutions are applied to all industries, there is chance of increasing
issues in warehouses, logistics and supply chain. Hence, it is significant to
implement a secured IoT solution for the asset tracking applications which
needs a real time one. In this asset tracking system, they have experienced
some key cyber security challenges. They are as follows,

• Asset tracking system
  experiences issues in tracking their services in real time.
• Secure devices with
  insufficient knowledge of employees may lead to cyber security incident. If
  they do not have a plan to control the cyber security threat then it may affect
  the supply chain process of the company.
• Asset tracking system
  faces some challenges in the operational workflow. The process of workflow is
  slow and low because of ineffective tracking system and cost solutions. In
  warehouse, the access control is the significant aspect to ensure manager
  security function.
• In order to remain
  competitive, the asset tracking system needs to enhance their services in
  warehouse and supply chain. The data must be secured. The system security must
  be ensured while implementing new service which seems to be significant in the
  supply chain.

In
this case, there is a need of effective IoT asset tracking system in real time.
This IoT tracking system will enhance the business operations and reduce the
costs. It helps to make streamlined operations as well.  It is suggested to use RFID technology with
IoT enabled asset tracking system. This makes the services effective and avoid
security challenges in the asset tracking system.

Architecture workflow diagram

In
the asset tracking system, it is significant to use RFID (Radio Frequency
Identification) for the tracking the asset. RFID is the cost effective solution
of IoT solutions. However, IoT enable assets offer real time visibility into
the asset performance and helps to organize the asset lifecycle. This RFID will
alert them when the server has removed from the data center. In this cases, the
assets enters the facility to moment it is retired then the company has a real
time trail of condition, present value of each asset and location. It helps to
deliver financial and operational efficiencies which the manual tracking never
offers.

Process of Enterprise
Asset Management

RFID
is the reliable and low cost process for developing the business efficiencies
and automating the inventory counts. It makes IoT environment of the connected
objects, devices and applications. The connected network renders data and
analytics which helps to make significant business decisions (Tournier,
2017). This business decision comprises
unauthorized movement of assets, equipment replacement or maintenance and
tracking asset lifecycle. By using these aspects, the asset tracking system can
bill the customers appropriately for usage and meet the leasing agreement
requirements.

RFID in Supply chain process

In
manufacturing, the pallets are loaded and RFID tags are applied and validated
for quality assurance. The goods are identified with maintaining the customer
order.  ERP system helps to enhance the
electronic transactions (Vaculik, Kolarovszki, &
Tengler, 2012). Once the logistics vehicle arrived at
the distribution center, RFID reader acquires unique ID from RFID tag and
induces automatic routing of the next goods. Retail ERP system helps to
organize the inventory levels.

Work flow diagram

In
the above workflow diagram, the asset tracking system has been revealed. RFID
provide timely information in the warehouse and supply chain by offering the
information to be accessed effective.  The faster decision should be made that
generates the operational optimization. The process of allowing the information
gathered in real time leads to effective decisions and faster response in which
RFID exhibits future promise.

There
are four stage of process accompanied in the process. First, RFID will get information
from the particular department with RFID tags. Next, faster access will be take
place in acquiring the information. Between these activities, the automatic
data capture has made. After the faster access, the faster decisions has been
implementing by taking real time information. Furthermore, the operational
optimization has been achieved. This work flow diagram is applicable for labor,
transport, facilities and inventory.  However, business costs are minimized and the operation
becomes more productive by lowering the transportation, labor, facility costs
of choosing inventory in the supply chain.

 Business value based business model matrix

In
order to make business value based business model, we need to select the
business process, benefits and key metrics.

(Kollmorgen,
2005)

Value based business model matrix

To create a value based business model matrix, we
need to prefer the business process and benefits.

(Arenas,
Goh,  & Matthews, 2019)

The
asset tracking system will make use of this value based business model enhance
the brand reputation and customer loyalty.

References

Arenas, A., Goh, J., & Matthews, B. (2019).
Identifying the business model dimensions of data sharing: A value-based
approach. Journal Of The Association For Information Science And Technology.
doi: 10.1002/asi.24180

Kollmorgen, M. (2005). Building a business case for
digital asset management. Journal Of Digital Asset Management, 1(6),
399-402. doi: 10.1057/palgrave.dam.3640061

Tournier. (2017). IoT-Enabled Asset Tracking is
Driving Business Innovation. Retrieved from
https://www.sierrawireless.com/iot-blog/iot-blog/2017/09/iot_enabled_asset_tracking_is_driving_business_innovation/

Vaculik, Kolarovszki, & Tengler. (2012).
Possibility of RFID in Conditions of Postal Operators. Retrieved from
https://www.intechopen.com/books/radio-frequency-identification-from-system-to-applications/possibility-of-rfid-in-conditions-of-postal-operators

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