Optimizing Supply Chain Operations Through Internet of Things (IoT) Driven Innovations

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@article{1705491,
      author = {Olufunmilayo Ogunwole, Ekene Cynthia Onukwulu, Micah Oghale Joel, Ngodoo Joy Sam-Bulya, Godwin Ozoemenam Achumie},
      title = {Optimizing Supply Chain Operations Through Internet of Things (IoT) Driven Innovations},
      journal = {Iconic Research And Engineering Journals},
      year = {2024},
      volume = {7},
      number = {8},
      pages = {471-480},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1705491.pdf},
      abstract = {This review paper explores the transformative potential of Internet of Things (IoT) technologies in optimizing supply chain operations. It delves into the various IoT devices and sensors, such as RFID tags, GPS trackers, and environmental sensors, and their role in enhancing visibility and transparency across supply chains. The paper highlights the benefits of real-time monitoring and tracking, predictive analytics for maintenance and demand forecasting, and cost reduction through improved operational efficiency. It also addresses the challenges and limitations associated with IoT integration, including data security and privacy concerns, technical difficulties, high implementation costs, and regulatory compliance issues. Additionally, the paper examines future trends, including emerging IoT technologies like 5G, blockchain, and edge computing, the integration of AI and machine learning for further optimization, and the contribution of IoT to sustainable supply chain practices. This paper aims to inform and guide businesses in leveraging these technologies for enhanced efficiency, agility, and sustainability by providing a comprehensive overview of IoT-driven innovations and their impact on supply chain management.},
      keywords = {IoT in Supply Chain, Real-time Monitoring, Predictive Analytics, Supply Chain Optimization, Data Security in IoT},
      month = {February},
  }