An IoT-Enabled Framework for Dynamic Supply Chain Performance Management

Abstract

This paper presents a framework of smart real-time performance monitoring and controlling of next-generation supply chains. It is based on enabling a set of Internet-of- Things (IoT) functions across the supply chain for dynamic and intelligent information processing and performance management. This is realized through the utilization of IoT technology in conjunction with workflow modeling to address the dynamic aspects of supply chain in a real-time environment. The proposed mechanism is referred to as Dynamic Supply Chain Performance Management (DSCPM) which is a computerized event-driven system that runs in real-time, monitors a set of selected supply chain performance measures, and effectively enables real-time decision-making. DSCPM functionality is based on the concepts of Complex Event Processing (CEP) to manage the massive event-instances across the supply chain and to convert them into beneficial information. Adopting DSCPM is expected to facilitate realtime corrective actions that reduce wastes and costs and maximize value across the supply chain.