Application of internet of things technologies in logistics

Abstract

The Internet of things technology is rapidly advancing and has been adapted to business, as well as to logistics. Wide spectrum of usage possibilities of the Internet of things allows logistics companies not only to lower operating costs and protect their own, as well as their client’s property, but also become more competitive in the market. Progressive customers tend to look for innovative, modern and sustainable companies. The Internet of things contributes to saving energy, providing and sustaining necessary conditions, and also makes it easier to receive information and react timely to it. T he purpose of this research article is to evaluate the use of the Internet of things in logistics companies in their various fields of practice, present the investments in the Internet of things technology in different activity sectors of European countries logistics companies. The most important aspects and terms had been reviewed by analyzing scientific literature. Regression analysis has been made with the use of “Eurostat” statistical data, to check data multicollinearity and criteria interrelationships. Later, a multicriterial evaluation using the TOPSIS method was made, seeking to find out which European country invested into the Internet of things technology the most over the last few years. Cluster analysis showed country groups, that invested differently in the Internet of things technology. The research allowed to discover the Internet of things’ benefits and distribution in logistics companies in Europe, as well as which logistic business areas are implementing innovations. Results show that the Internet of things technology is rapidly advancing and is widely applied in logistics.