Advancing Internet of Things Technology and Supply Chain Efficiency
The purpose of this research is to determine the current status of the Internet of Things (IoT) technology and its impact on supply chain efficiency in logistics industry and to analyse the essential elements considered to be affecting the implementation of the IoT in firms. The level of importance of a number of critical components will, thusly, be proposed to take into consideration to effectively practise any system to be developed.
The research approach utilised is initially based on the thorough review of the relevant supply chain and the IoT technology. The research philosophy behind this research is based on positivistic approach, meaning that a literature review leads to the background and development of research question that will statistically be tested and analysed with the usage of a sample. However, due to the nature and limitations of public web-based tools to collect data, the research strategy is a survey questionnaire designed, programmed, compiled, therefore customised by the author utilising PHP, HTML/5, CSS/3 and jQuery given the fact that the method to gather data and information will be constitutively based upon AHP and TOPSIS in order to develop pairwise comparison matrix.
The results of this research can be generalised to the IoT companies as well as researchers and, to some extent, to supply chain and logistics managers as the criteria might allow them to test the benefits and risks before the implementation of various IoT software and hardware. Given the fact that the IoT technology is a fresh topic and currently spreading to all industries swiftly given the nature of practical applications it offers, any organisation employing digitalised appliances into their supply chain should take into account a number of factors for an effective adaptation of such technology. The knowledge about the IoT as to decide to adopt it into the companies is essential given that the world of business is being digitalised and security in relation to effectiveness has a huge role in terms of sustainability. It is, therefore, to be expected that this necessity will lead to more conviction about the benefits of the IoT in the supply chain, which will eventually result in more organisations improving their services considering the drivers and barriers in effect.