Economic Impacts of Internet of Things (IoT) in Supply Chain Management
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Abstract
The Internet of Things (IoT) is a rapidly advancing concept that is transforming industries around the world with SCM as its primary beneficiary. In this paper, the effects that IoT has on SCM economically are outlined, including efficiency gains, increased resource savings and revenue generation. It also investigates issues like; initial capital investments, cybersecurity threats, and skill gap, to argue that while there is a threat posed by these diverse challenges, IoT is a force that holds the promise of revolutionizing supply chain economics.
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A. Vinay Bhushan, Ravi Kanth Makarla, A.Kanimozhi, Gunda Srinivasa Rao. (2024). Economic Impacts of Internet of Things (IoT) in Supply Chain Management. European Economic Letters (EEL), 14(4), 1247–1260. https://doi.org/10.52783/eel.v14i4.2253
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