Sarath Menon

The objective of this research paper is to assess and produce a synthesis of peer and research findings towards a better understanding on the impacts of technology developments such as that of Internet of Things (IoT) in global supply chains. It examines on how they begin to converge as one integrated concept. The basis of the paper will revolve around (IoT) areas impact the Supply chain and in turn the management of the supply chain, it will also look at the growing innovation within (IoT) and large investments being made in the supply chain sector. It could further be argued that (IoT) is merely a repeatable exercise and merely an investment that any competitive market could undertake thus nullifying any genuine competitive advantage. Furthermore, it provides future researchers to explore the criteria that can be assessed by organisations towards the adoption and implementation of IoT services and its readiness.

This paper aims to summarize the current and potential capabilities of the Internet of Things (IoT) and how it contributes to Logistics Management and how it might contribute more in the digital age of the year 2050. It will be discussing the new technologies that could one day reshape logistics management and supply chain environment from what it is today into something totally different in the future. Logistics management is an evolving function that has been created, adapted and implemented into the supply chain environment. The diversification of this phenomenon the Internet of Things (IoT) with its emerging attributes are all since it is constantly in motion. The innovative solutions that have been created and can be built upon further are excessively compulsive and are non-compellable. There is the foresight that the internet of things (IoT) will take over the way logistical operations are managed today and in so doing it will reduce the staff numbers of many organisations worldwide.

Fourth Industrial revolution, Industry 4.0– A rapidly growing world of digitization that opens the doorway for new era of automation plays a crucial role within the industry which requires a constant research and improvements to achieve and sustain themselves in current world of competitive market. Implementation of industry 4.0 technologies pioneer for a profit maximization with cost reduction and has even realized to show a significant refinement in improved sustainability. Global Market leading organisations are positioning themselves with world of digitisation to their end consumers utilising the digital marketing, e-commerce and customer experience virtually driving towards a completely new era of digital ecosystem. Supply chain management (SCM) within the small and medium enterprises (SME’s) plays an important role in supporting the global manufacturing economies. SME’s lacks the understanding and significance of transforming themselves with the extremely complex digital supply chain systems that may leads to losses if they don’t embrace now for innovations and implement the latest technological advancements. This paper aims to examine the current trends and impacts of latest technologies within the SME’s with the view of key factors of Industry 4.0.

Research studies highlights that Industry 4.0 plays a vital role in different areas of manufacturing industries and requires constant research and improvements due to high demand to meet the global competitive markets in an efficient and economical method. The current industrialisation is facing great challenges in ensuring the sustainability balance of its social, economic and environmental dimensions while they strive to achieve the product demands in competitive market space. As part of achieving these high demands, different studies focus towards developing the understanding of industry 4.0 implementation practices to attain a sustainable manufacturing process that incorporates advanced technological tools for increasing efficiency, financial gains and competitiveness in the market. This paper aims to examine the interrelationship of sustainability practices, the key factors affecting sustainability within manufacturing, and finally the advancements of industry 4.0 and different technologies to achieve sustainable manufacturing that focuses on KPI’s of environmental and social dimensions.