A Comprehensive Analysis on the Adoption of IoT with Logistics and Supply Chain Management

Abstract

Adoption of Internet of Things (IoT) in logistics and supply chain management is one of the complicated process, because the different types of industries have various expectations in accepting the new technologies. According to the recent reports, it is analyzed that most of industrial organizations increasingly deployed the IoT technology for improving their supply chain management. But, the expectations of both small and large scale industries are differ in adopting the new technologies like Radio Frequency Identification (RFID) and Electronic Product Code (EPC) global network. Hence, this work intends to analyze the major impacts of adopting the IoT technology with the supply chain management systems of organizations. For this purpose, a comprehensive survey is conducted in this work, where the factors influencing the supply chain management are examined. Moreover, the challenges and issues faced by the conventional works in adopting the IoT technology have been discussed with its possible solutions. In addition to that, the conceptual framework is presented for analyzing the development of IoT based logistics and supply chain management system. From this study, it is observed that the IoT is identified as one of the most suitable option for resolving the complex business management problems with innovative solutions. Also, it supports for improving the supply chain of organization with increased profit returns and customer satisfaction.