Internet of Things (IoT) refers to the interconnected network of physical devices, vehicles, buildings, and other items that are embedded with sensors, software, and connectivity, allowing them to collect and exchange data. In the context of supply chain management, IoT can be used to improve various aspects of the supply chain process, such as:
Real-time tracking: IoT devices can be used to track the movement and location of goods as they move through the supply chain, allowing for real-time visibility and improved efficiency.
Inventory management: IoT sensors can be used to monitor inventory levels and automatically reorder supplies when necessary, reducing the risk of stock-outs and overstocking.
Quality control: IoT devices can be used to monitor the quality and condition of goods as they move through the supply chain, ensuring that they meet required standards and are not damaged during transport.
Predictive maintenance: IoT sensors can be used to monitor the condition and performance of equipment and machinery, allowing for proactive maintenance and reduced downtime.
Overall, the use of IoT in supply chain management can help to improve efficiency, reduce costs, and increase customer satisfaction by ensuring that goods are delivered on time and in good condition.