Internet of Things has taken the world with a storm. It has delivered opportunities to almost every industry and function. Supply chain is not an exception to this. With the increasing number of online businesses, the importance of this function of management has increased multifold. Combining internet of things with this has introduced us to a vast expanse of opportunities and made the supply chain smarter.
Maha Muzumdar, in his article at Industry Week has shared a list of supply chain opportunities that companies can exploit by leveraging IoT technology. They are:
- Better Predictability of Demand & Inventory Visibility
- Better Tracking & Efficiency
- Accelerated Innovation & Product Support
- Improved Alignment & Collaboration
- Sustainability & Quality
He has also stressed upon the fact that supply chain executives must adapt IoT in their processes as soon as possible to gain its maximum benefits.
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