It could have been called something like ‘virtual supply chain connectivity’ or VSVC for short but it is simply called, the ‘internet of things’ (the Irish version will no doubt will be nicknamed the ‘internet of thingamajigs’)
It refers to the revolution of products or devices connected automatically to databases and the internet. These devices can measure, monitor, and in some cases are designed to trigger a predetermined action all without any live person to prompt the action or make any related decisions!
Primarily, it’s about enabling the right product to be in the right location in the right quantity all based on real-time demand data
Everyday examples are
A Conservative estimate from the OECD is that IoT will reach 20 billion devices by 2020 from a total of 900 million in 2009. This will have a dramatic positive effect on
Obviously the concerns here are confidentiality and prior permission to allow an individual’s device to be used and a ‘Big Brother’ fear factor but once these hurdles are overcome then the ‘internet of thingamajigs’ is likely to take off like a jet engine!
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Submitted by our expert Tutor Eamon O’Bearra
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