The impact of industry 4.0 on supply chain management
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Industry 4.0 includes technologies such as Internet of Things (IoT), Big Data Analytics, Smart Factory, Cyber Physical Systems, Blockchain, Machine Learning and Artificial Intelligence. Supply Chain is a field which involves numerous day to day activities such as planning, procurement, warehousing, transportation etc. With such activities also comes a huge amount of data. In order to manipulate and derive some analysis out of this data, and also effectively manage and coordinate the working of different activities simultaneously, there is huge scope for human misjudgment or errors which would lead to unoptimized inventory and increased costs. With digitization being adopted by various Supply Chain Industries, the above mentioned risks could be eliminated with the adoption of different technologies under Industry 4.0.
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The impact of industry 4.0 on supply chain management
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The impact of industry 4.0 on supply chain management
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