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The Application of the Internet of Things in Managing Supply Chains
Abstract
Internet of things (IoT) devices collect data about current environmental conditions faced by people, products, equipment, or machinery in the supply chain. Leading organizations are using this real-time data to proactively manage their supply chains more efficiently and effectively. This article discusses the application of IoT technology in the supply chain and the common benefits it can generate such as supply chain visibility, supply chain traceability, supply chain transparency, supply chain risk management, supply chain collaboration, and flexibility and agility. It also presents the challenges and risks that firms face when implementing IoT technology in their supply chains.
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