How IoT Is Changing B2B Relationships

The Internet of Things (IoT) is providing organizations with quicker and more efficient communication methods in B2B relationships. IoT is the evolution of a Machine-to-Machine or M2M model in order to connect businesses devices to one another in order to easily update product status. The use of IoT has become increasing popular in the technology world and is currently implemented at GE, Cisco, Microsoft, and AT&T helping streamline the business-to-business relationship. Under an IoT approach companies can control and recognize potential issues in both the Supply Chain and Customer Relationship Management side of a business. It is making existing processes more efficient by providing real-time updates on production and inventory levels to warehouse managers. They can also check the status of shipped items with exact locations under its cargo tracking as well as indicate the health of the asset in travel in order to check on its condition. Finally, IoT practically creates a new business model allowing B2B and B2C to be intertwined. It is improving communication process and making it easier and more effective when dealing with customers providing them with this same real-time information.

Do you think more companies will begin to implement IoT under an M2M model in order to strengthen B2B relationships? Why or why not?

Is there a downside or potential weakness in implementing this type of system in an organization?

http://www.forbes.com/sites/maribellopez/2015/04/01/internet-of-things-buzzword-or-business-value-an-interview-with-atts-penrose/