Designing smart supplier chain management model under big data and internet of things environment

Abstract

Recently, the business paradigm has shifted to the direction of strengthening consumer-oriented process interconnections and thus demand diversity and volatility have increased. The automation, autonomy, and connectivity of the entire supply chain are emphasized on the basis of the fourth industry technology such as Internet of things and artificial intelligence. In this paper, we propose a smart Supply Chain Management model that accommodates current high technological issues and business requirements under 4th industrial revolution era. The proposed web based SCM consists of automatic ordering/purchasing system, artificial intelligence based appropriate inventory computation system based on Monte Carlo simulation, and detachable IoT based inventory management system. The system is expected to be a sophisticated and intelligent smart SCM solution that adheres to logistics standards for visibility, safety and efficiency.