Impact of Internet of Things on Supply Chain Management
Added on 2021-06-17
22 Pages5107 Words443 Views
Running head: SUPPLY CHAIN MANAGEMENTSupply Chain Management[Name of the Student][Name of the University][Author note]
SUPPLY CHAIN MANAGEMENT1Table of ContentsIntroduction:....................................................................................................................................3Impact of Internet of Things over the Business performance:........................................................4Social:..........................................................................................................................................4Improved rate of visibility:......................................................................................................4Wide view of the Plant:...........................................................................................................4Visibility to the supply chain:..................................................................................................4Economic:....................................................................................................................................5Collection of Data:...................................................................................................................5Smart assembly:.......................................................................................................................5Production of Alerts along with resolution of events:.............................................................5Maintenance at an advanced rate:............................................................................................6Environmental..............................................................................................................................6Analysis of the facilities:.........................................................................................................6Automation:.............................................................................................................................6The moving of the manufacturing companies at a rapid rate:.................................................7Supply management tools and techniques:......................................................................................71. Shipping Status Tools: Alerts and Updates.............................................................................72. Order Processing Tools............................................................................................................7
SUPPLY CHAIN MANAGEMENT23. Lean Inventory Tools...............................................................................................................84. Warehouse Management.........................................................................................................85. Freight Handling......................................................................................................................86. Bid and Spend Tools................................................................................................................97. Supplier Management..............................................................................................................98. Demand Forecasting................................................................................................................99. Collaboration Portals.............................................................................................................1010. Security Features.................................................................................................................1011. Compliance Tools................................................................................................................1012. Audit Tools..........................................................................................................................11Role of Supply Chain in Block chain and internet of things.........................................................11End-to-End Real-Time Supply Chain Visibility........................................................................11Enhancing Global Supply Chain Financing..............................................................................11Regulated Supply Chain Reliability..........................................................................................12Data-Driven Insights..................................................................................................................13Role of Reverse Logistics..............................................................................................................14Reduction of the costs....................................................................................................15Faster rate of service.......................................................................................................15Retention of Customer...................................................................................................15Reduced losses and unplanned profits............................................................................15
SUPPLY CHAIN MANAGEMENT3Conclusion:....................................................................................................................................15Bibliography:.................................................................................................................................17Introduction:Internet of Things or the IoT can be considered as a promising technology which can help intackling of problems which are faced by the organization Shape Nz Limited. Shape Nz Limitedis a manufacturing company which is facing few problems. The use of IoT on the manufacturingcompany has various impacts. The use of IoT technology that mainly includes the inter-reliability of the sensors, equipment’s, machines, lines, processing units, plants, materials,containers, transportation, buildings, computers, software and many more. The use of technologyhas greatly helped in the achieving of results which are innovative and are also responsible fordriving the value in the manufacturing process. The use of IoT has been responsible fordisrupting various industries but it is the manufacturing industry which are getting the majorbenefits. Supply chain management is a systematic approach that is adapted in order to manage thedistribution of goods from producers of raw materials, through manufacturers and eventuallydown to end users. Supply chain management affects manufacturing companies in a variety ofways, including the availability of inputs needed for production processes, costs and profitabilityof manufactured items, company infrastructure and ways in which companies interact with theirsuppliers and customers. Understanding the ways that supply chain management affects
SUPPLY CHAIN MANAGEMENT4manufacturers from both a daily operational perspective and a strategic viewpoint is importantfor all managers and entrepreneurs in the industry.Impact of Internet of Things over the Business performance:The different ways by which the manufacturing industry is evolving by making use of theIoT mainly involves the following:Social: Improved rate of visibility: The manufacturing industry needs to have a clear view about the resources that are needed alongwith the performance of the equipment’s and the various security threats. The use of IoT wouldbe helping in the development of dashboards which would be associated with showing thevarious kind of details which might include the details of the plant environment, safety alongwith the efficiency and the return on the assets.Wide view of the Plant:The integrated production system is very critical for any manufacturing plant. I case if themanufactures are located at geographically dispersed locations then the IoT would be greatlyhelping in the shortening of the lead times. In order to make the information flow further at afaster rate along with enhanced market responsiveness and quick making of decisions would behelping the manufacturers in increasing the Internal Protocol network technology which isassociated with creating connection with the enterprise location assisted by the device-levelproduction data on a real-time basis.
SUPPLY CHAIN MANAGEMENT5Visibility to the supply chain:The visibility to the supply chain is very much essential as well as challenging. The applicationof the IoT on the manufacturing industry would be ensuring a real-time visibility to the processesrelated to manufacturing. Economic: Collection of Data:The collection of the data by different kind of sensors and machines are very much helpful in theanalysis and application of the data. Assisted by the cloud the flexibility and the efficiency isalso increased during the collection and storage of the data.Smart assembly:The bridging of the gap that exists between the manufacturing and the enterprise networks is alsodone by making use of the IoT. The deployment of the intelligent network greatly helps themanufacturing organization. This greatly helps in the reduction of downtime and this is done byenabling the remote access to the systems as well as to the partners. Along with this it also helpsin delivering precision, reliability and resilience from the floor of the manufacturing plant to theenterprises.Production of Alerts along with resolution of events:There exists many cases where it is seen that the manufacturing plants are lacking the capabilityof providing notifications on a real-time basis relating to the failure of the equipment’s. The open
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