Internet of Things-Based Smart and Connected Supply Chain: A Review

Abstract

In the era of the Internet of Things (IoT) and the Industrial Internet of Things (IIoT), elements along the supply chain can be connected to one another to offer tracking capabilities. The information obtained from an always connected and working supply chain is then incorporated into the simulations of the virtual world (digital twin). This allows for an instantaneous simulation of the environment at any point in time and better, more optimized, and quicker decisions are made based on the results. This translates into more performance and a stronger competitive advantage. This paper will examine the main concepts surrounding the supply chain from the perspective of digitalization. In this paper, we will take a closer look at the main concepts related to the supply chain in light of digitalization.