“Role of Internet of Things (Iot) in Supply Chain Management Effectiveness: An Empirical Study”

Abstract

The Internet of Things (IoT) is a network of interconnected hardware, sensors, and software programs that gather and share data collected. IoT devices can be installed in manufacturing facilities, warehouses, distribution centers, transportation equipment, and retail establishments, as well as throughout the entire ecosystem. The supply chain's numerous elements, such as inventory levels, product conditions, equipment performance, and transportation routes, may be tracked, monitored, and analyzed with the ease of these IoT devices. Supply chain managers can achieve a level of visibility and management over the operations never before possible by utilizing IoT capabilities. Real-time data gathering and analysis support proactive decision-making, enabling quicker reaction times to anticipated interruptions, inventory level optimization, and enhanced demand forecasting precision. IoT-enabled supply chain management also improves traceability and transparency, giving businesses the capacity to comply with regulations, reduce risks, and guarantee the quality and safety of the products. Additionally, IoT-driven supply chain management encourages coordination and integration among a range of stakeholders, including suppliers, manufacturers, logistics service providers, and clients. Enhanced coordination, shorter lead times, and better customer service are all made possible by the supply chain's smooth data and information flow. IoT devices can help automate repetitive processes so that staff members can concentrate on more value-added activities.