Optimizing supply chain operations using IoT devices and data analytics for improved efficiency
1 Independent Researcher, Houston Texas, USA
2 Independent Researcher, Port Harcourt Nigeria.
3 Rhodafranks Nigeria LTD.
Review Article
Magna Scientia Advanced Research and Reviews, 2024, 11(02), 070–079
Publication history:
Received on 30 May 2024; revised on 05 July 2024; accepted on 08 July 2024
Abstract:
This paper explores the transformative impact of IoT and data analytics on supply chain operations, emphasizing their role in enhancing efficiency, reducing costs, and improving performance. It addresses key challenges such as lack of real-time visibility, inefficient inventory management, operational delays, and risk management. The integration framework involves data collection, processing, analysis, and decision-making. Emerging technologies like edge computing, blockchain, AI, 5G, and digital twins are highlighted for their potential to further revolutionize supply chains. Strategic recommendations include investing in IoT infrastructure, ensuring data security, fostering skill development, collaborating across stakeholders, and initiating pilot projects. The findings underscore the significance of IoT and data analytics in creating resilient, agile, and sustainable supply chains.
Keywords:
IoT; Data analytics; Supply chain optimization; Real-time data; Predictive analytics
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Copyright information:
Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0