IoT and Industry 4.0: Revolutionizing Manufacturing Processes and Supply Chains

Abstract

Supply chain management and manufacturing procedures are being completely transformed by the convergence of Industry 4.0 and the Internet of Things (IoT). IoT improves operational efficiency, enables predictive maintenance, and turns conventional factories into smart, networked spaces by using cyber-physical systems and real-time data collecting. The important effects of IoT on manufacturing are examined in this research, with a focus on how it might increase output, decrease downtime, and facilitate customisation. Furthermore, the impact of IoT on supply chain management is analysed, emphasising its potential to boost sustainability efforts, streamline logistics, and promote transparency. This study's approach includes secondary data analysis from industry publications, reputable academic sources, and peer-reviewed journals as well as a systematic literature review (SLR). The research focused on the effects of Industry 4.0 and IoT on supply chain management and manufacturing by methodically choosing and evaluating relevant material. Using search phrases like "Industry 4.0," "IoT," "smart factories," "supply chain management," and "digitisation," data was collected from academic databases including IEEE Xplore, ScienceDirect, and Google Scholar. The study consolidates the body of knowledge, focussing on theoretical frameworks and real-world applications in a range of sectors. However, there are obstacles in the way of these technologies' broad adoption. Significant obstacles include the requirement for specialised skills, high initial investment costs, and cybersecurity threats, especially for small and medium-sized businesses (SMEs). The long-term advantages of Industry 4.0 and IoT, such as improved flexibility, sustainability, and responsiveness, outweigh these challenges. The study's conclusions highlight the technologies' revolutionary potential while pointing out the scientific and financial obstacles that still need to be solved.