Exploring the Role Internet of Things in Transforming Traditional Supply Chain Methods and Improving Transparency, Efficiency, and Decision–Making

In this study, Internet of Things (IoT) is investigated in terms of how it can transform heritage adjusted supply chain systems and the changes that will be experienced in terms of transparency, efficiency, and the decision making process. The research analyzes the firm’s application of IoT across the supply chain in terms of key applications, implementation challenges and perceived benefits based on survey data of 260 supply chain professionals from multiple industries. The real time shipment tracking (28.5%) is found to be the most widely implemented application, while the principal motive behind this is to improve the end to end transparency (23.5%). Nearly two thirds of respondents (67.3%) consider supply chain transparency to be provided by large (or even transformative) improvements with IoT. Though it has been recognized in the literature as offering benefits (avoiding key pain points associated with current operations), integration challenges (64.6% view integration as very/moderately challenging) and investment costs (67.4% consider investment costs as a moderate/major barrier) continue to be significant barriers. This study is useful for supply chain stakeholders to get the existing IoT implementation strategies and achieve better visibility, operational efficiency, and competitive advantage for the supply chain.