Implications of Internet of Things Technologies in Supply Chain Management

The Internet of Things (IoT) refers to the system of 'smart' inter-connected networked devices that contain sensors to communicate information to the Internet. Due to the complex and intricate nature of IoT technologies, in addition to the many applications of IoT, the IoT has the potential to revolutionize how we interact and work every day. The information gathered through IoT is aggregated and can be used to improve business decision making, as well as contribute to a greater society. IoT spans various market sectors including retail, energy, and transportation. IoT can also be used to improve efficiencies within the supply chain. By increasing the transparency of items in-transit, in addition to providing greater visibility about inventory usage and consumer consumption habits, there are many implications of IoT that can be utilized to transform logistical processes. While some literature exists that discusses the impact of the IoT on the supply chain, the findings are limited in size and scope and tend to focus on particular implementations of IoT technologies. Further research is necessary to evaluate the impact of IoT to advance supply chain best practices and to understand the potential implications of the IoT in improving supply chain planning and distribution. This thesis aims to address this gap in the literature. By focusing on supply chain management, the thesis will look at the context in which the IoT operates, the market and implications of IoT devices, current logistics processes, the capabilities of IoT, as well as the potential problems and weaknesses with the implementation of the IoT.