Internet of Things (IoT) is Revolutionizing the Entertainment Supply Chain
Companies from across the spectrum have all began cuing in on one simple fact. Understanding their products movements over its lifecycle provides incredible insight into how your companies supply chain operates. With Media and Entertainment product tracking can provide significant logistics and security insights throughout the product journey that were out of reach just a few years ago. With increasing IP production costs, understanding the products journey and where there might be deficiencies can save millions of dollars in lost revenue and product.
Media has always been a high cost asset industry. Hundreds of thousands of man hours and products go into the creation of films and tv shows. This expenditure has only increased. Only 25% of the revenue of a film being created happens within the US market. Meaning a significant portion of M&E profit comes from these products being disseminated on a global scale. With such a vast distribution network to control, understanding the different nuances of each country and its logistical issues it posses is important to optimizing and eventually reducing costs.
Creating measurable logistical data does require some significant investment and will take some time to produce the amount of data needed to truly optimize your system. However, in today’s tech world, one must abide by the old adage, spend money to make money. Nowhere is more true than in the IoT enterprise space. Could you spend $500k to save $2 million next year? How about spend $1 million to save $4 million? It is a simple fact that for IoT to be done correctly, there needs to be significant deployment or edge sensors. If someone is telling you otherwise, find a new partner.
Terabytes of data need to be generated daily to provide enough information to create a analytics network that can create true intelligence for the corporation to utilize. This necessary sensor complexity is perfect for a global logistical network like that of M&E companies. By tracking pallets of products, possibly the individual products themselves, trailers, and employees with sophisticated IoT sensors these firms would know with extreme accuracy where each item is in real time. Taking product theft, duplicate orders, and product loss to an all-time low. Not to mention providing insights into each step of the product life cycle and understanding where there are deficiencies in the process.
This is no magic bullet to end logistical issues Day 1, but given enough time and initial investment, companies will begin to see large returns especially those looking to secure their products and IP from end to end. Through properly deployed data visualization techniques a whole picture of the organization can begin to take shape and data-backed decision making will flourish.
At Clovity we know that this can be a daunting first step. The industry if fraught with companies that can deploy IoT POC’s but don’t have the understanding to integrate their deployment into the business process application ecosystem. This is why these projects end of failing or being shelved. Only choosing the right partner to deploy the right solution will ensure that your business gets the proper return on investment.
By inititating new technical advancements with a combined device-to-cloud-to-enterprise perspective and taking a holistic view of their entire technology offering, top companies will find great success in these deployments. Some estimates put it at between 30–90% increases in productivity depending on the size of the deployment and what data sets can be derived from it. Apprehension to embrace this technology or deploying underfunded IoT projects will leave static companies falling far behind their competitors and ceasing to be a factor in their market.
By Cameron Starman May 13, 2018
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