Towards A Sustainable and Ethical Supply Chain Management: The Potential of IoT Solutions
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Globalization has introduced many new challenges making Supply chain management (SCM) complex and huge, for which improvement is needed in many industries. The Internet of Things (IoT) has solved many problems by providing security and traceability with a promising solution for supply chain management. SCM is segregated into different processes, each requiring different types of solutions. IoT devices can solve distributed system problems by creating trustful relationships. Since the whole business industry depends on the trust between different supply chain actors, IoT can provide this trust by making the entire ecosystem much more secure, reliable, and traceable. This paper will discuss how IoT technology has solved problems related to SCM in different areas. Supply chains in different industries, from pharmaceuticals to agriculture supply chain, have different issues and require different solutions. We will discuss problems such as security, tracking, traceability, and warehouse issues. All challenges faced by independent industries regarding the supply chain and how the amalgamation of IoT with other technology will be provided with solutions.
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