Optimizing Supply Chain through Internet of Things (IoT) and Artificial Intelligence (AI)

Abstract

Since the inception of Internet of Things (IoT) and AI (Artificial Intelligence), there has been a vast development in modern technology. There is no doubt IoT, and AI have been universal dais for Internet-associated smart and intelligent devices which is touted to boost supply chain integration. This paper aims to review the increased role and importance of IoT and artificial intelligence in supply chain management during the Covid pandemic. Recently we all have witnessed that due to the covid-19 the whole world has been under locked down and witnessing a great problem for buying the daily essentials as social distancing must be maintained. Covid has disrupted the production supply chain, finance, and markets. There is an outpouring in the usage of online shopping making pressure to enhance process efficiency for future needs. The advent of industry 4.0 has given rise to the implementation of modern technologies into Supply Chain Management. The use of IoT and AI makes the shopping experience much better, more user-friendly, with alleviated customer service with end-to-end supply chain performance, or improved supply chain availability, clarity, and authenticity during the pandemic. The chapter focuses on the impact of IoT and AI on overall supply chain and how the technologies are helping to increase the efficiency and effectiveness of the supply chain system.