McKinsey, the US Management Consultancy firm has just released a report on the impact of the Internet of Things (IoT). IoT is arguably the next big transformative technology wave starting to sweep through business and the global economy. IoT is the description given to the massive expansion of devices connected through the internet; our phones, fridges, homes, cars and almost everything else you can think of are being connected and this is opening up endless new business opportunities.
The McKinsey report made predictions for the size of the market and the value add to the global economy. The numbers are truly startling; the IoT market by 2025 is predicted to be valued at $3.9trillion and the value add to the global economy $11.1trillion. Separately there are numerous predictions of the number of individual devices connected; Juniper Research has suggested growth from 13.4 billion devices in 2015 to 38.5 billion by 2020. IoT is predicted to add immense value through opening new business opportunities, increased capabilities and enhanced efficiencies across most industry sectors.
The industry sectors predicted to be most impacted by IoT were transport, energy, health, navigation and logistics.
At Pelipod, we have a vision to transform the final part of the logistics chain by applying IoT capabilities to the process of parcel delivery. The process of getting goods to both consumer and business users has been subject to much innovation and investment in recent years. There has been plenty of coverage of click & collect, parcel tracking, drones, autonomous delivery vehicles and even moles (utilising the existing network of tunnels beneath cities). Despite all this creativity, the one part of the parcel flow to not yet be transformed, is the final step of actually getting the parcel into the right person’s hands. Existing processes still rely on someone waiting around to get the parcel (or risking an unsecure delivery) or travelling to a distant location (locker-bank, store, Post Office or depot) to collect.
Pelipod has created a point-located, secure parcel box that uses wireless connectivity to transform the delivery experience. Pelipod communicates with an App and central application to allow the user to generate unique secure codes for each parcel; delivery is completed by the courier using the code (included on the address label) to open the box. On closing the Pelipod, a photograph of the parcel inside is taken and a confirmation email or SMS sent to the user confirming the delivery. Pelipod works just as well for managing the return of parcels – using the same process and principle. Pelipod has enabled secure, 24/7 unattended deliveries for any location. The auditing enables the Pelipod owner to see what has been delivered, when it was delivered and who opened the box to deliver and retrieve the parcel.
Major businesses are waking up to the fact that they can simplify their supply-chains for the delivery of goods to field based workers and consumers by using Pelipod to deliver goods to precisely where they are needed. Currently businesses rely on depots and locker boxes; then get their field based employees to travel to these intermediate stocking locations to collect the tools and spares they need. With Pelipod, they can have the supply-chain terminate at their employees house or place of work saving them time and money by avoiding collections. Karl Wills, CEO and Founder of Pelipod said “we are working with a number of major UK and international businesses to quantify the very significant gains in field workforce productivity that Pelipod can deliver. The ROI for some firms is staggering, in just a few weeks, due to current operation of workers acting as their own, very expensive parcel couriers instead of serving their customers”.
The transformative potential for Pelipod has been recognised by many press articles and also in a recent appearance at a conference entitled RioT (Revolutionise the Internet of Things) run by Eseye, a company at the forefront of enabling the growth of IoT.
The full McKinsey article can be seen at: http://www.mckinsey.com/insights/business_technology/the_internet_of_things_the_value_of_digitizing_the_physical_world