The role of IoT in boosting supply chain transparency and efficiency
1 Independent Researcher, RI, USA.
2 Independent Researcher, UK.
3 Communications Software (Airline Systems) limited a member of Aspire Software Inc, UK.
4 Independent Researcher, Nigeria.
Review Article
Magna Scientia Advanced Research and Reviews, 2024, 11(01), 178–197
Article DOI: 10.30574/msarr.2024.11.1.0081
Publication history:
Received on 11 April 2024; revised on 21 May 2024; accepted on 24 May 2024
Abstract:
This review paper explores the pivotal role of the Internet of Things (IoT) in enhancing transparency and efficiency within supply chains. As global industries increasingly demand sustainability and streamlined operations, IoT emerges as a key enabler, providing unprecedented visibility and control. This paper synthesizes findings from a broad range of literature, including case studies and empirical research, to assess the impact of IoT on supply chain dynamics.
The analysis reveals that IoT facilitates real-time tracking of goods and data flow, significantly increasing transparency across all supply chain tiers. This enhanced visibility aids in proactive decision-making, compliance with regulatory standards, and adherence to sustainability criteria. Additionally, the integration of IoT is shown to streamline operations, reduce costs, and elevate customer satisfaction through more reliable and responsive service delivery.
The paper concludes that while the adoption of IoT drives considerable improvements in supply chain management, it also introduces challenges such as the need for substantial infrastructure investment and ongoing concerns regarding data security and privacy. Recommendations for practitioners include adopting a phased IoT integration strategy and prioritizing robust cybersecurity measures to safeguard sensitive information. This review provides a comprehensive overview of IoT's capabilities and outlines strategic approaches to harness its full potential for transforming supply chain operations.
Keywords:
Internet of Things (IoT); Supply Chain Management; Operational Efficiency; Real-time Data Analysis; Sustainability in Supply Chains; Artificial Intelligence (AI) Integration; Blockchain Technology; Data Security; Predictive Analytics; Global Supply Chain Resilience; Technological Innovation; Regulatory Frameworks; Workforce Development; Technological Disparity
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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