Early Industry Opportunities and Challenges in 4.0 for Supply Chain Management Using with Iot

Abstract

Growing information and Internet of Things (IoT) are important parts of Industry 4.0 for Improving Supply Chain Management (SCM). The use of smart technologies has led to what called “smart supply chains”. For the industrial and practical communities, it is essential to comprehend how industry 4.0 and connected IoT influence smart supply chains and how those chains develop by aid of cutting – edge technologies. Based on interviews with retail industry managers in India, this study uses grounded theory to explore the potential benefits and drawbacks of implementing IoT in supply chains. With the use of NVivo's thematic analysis, we can see that introducing IoT devices into a company environment leads to better tracking of inventory, data collection, communication with partners, and overall business information. Inadequate interoperability between partner systems, a lack of top-down initiative, the high price of adopting new technology, the resistance of key players to change, and a lack of transparency and trust in data all present difficulties for the retail industry. In this study offers benefits of IoT as proof of concepts that reinforce the speculate decision concocted to the IoT, illuminates adoption hurdles, and generates proposals for future investigation.