LEVERAGING IOT FOR SMARTER SUPPLY CHAIN MANAGEMENT AND LOGISTICS: A COMPREHENSIVE REVIEW AND FUTURE PERSPECTIVES
Mrs. Madhura K, Raghavendra B · 2023
The integration of the Internet of Things (IoT) in supply chain management and logistics has emerged as a promising approach to enhance operational efficiency, transparency, and agility. A comprehensive data analysis and interpretation of the integration of Internet of Things (IoT) technology in supply chain management and logistics. The study aims to assess the current level of IoT adoption, identify challenges faced during implementation, examine the relationship between IoT adoption and supply chain efficiency, explore potential benefits, and evaluate the impact of IoT integration on organizational performance and customer satisfaction. The data analysis is based on survey responses from diverse organizations operating in various industries. The survey investigated the extent of IoT adoption in different supply chain activities, such as inventory management, transportation, warehousing, and order fulfilment. The findings reveal that 75% of the surveyed organizations have partially adopted IoT in their supply chain operations, with varying degrees of implementation across different activities. Furthermore, the research identifies key challenges faced by organizations in implementing IoT, with the cost of implementation, integration with existing systems, and data security and privacy concerns being the most prominent hurdles. The study also explores the relationship between IoT adoption and supply chain efficiency. The data analysis demonstrates a positive correlation between IoT adoption and supply chain performance, with improvements observed in on-time delivery, order accuracy, and inventory turnover among the organizations that adopted IoT. The potential benefits of IoT adoption in supply chain management are investigated. The data analysis highlights the expected advantages of real-time tracking and visibility, predictive maintenance, and enhanced demand forecasting. Finally, the impact of IoT integration on overall organizational performance and customer satisfaction is evaluated. The data analysis indicates that a significant majority of organizations reported an overall improvement in performance after IoT integration, and a positive impact on customer experience and loyalty. In conclusion, this research provides valuable insights into the adoption and implications of IoT in supply chain management and logistics. The findings underscore the potential for IoT to drive efficiency and enhance customer satisfaction in the supply chain context. However, challenges related to cost, integration, and data security need to be addressed for successful implementation. The research contributes to a deeper understanding of leveraging IoT for smarter supply chain management and logistics, paving the way for further advancements and future perspectives in this rapidly evolving domain.