What Is a Supply Chain?
A supply chain supports the delivery of source materials to a manufacturer, the steps taken to build the product, and the process of delivering it to sellers and, eventually, customers. The oversight of all the materials, resources, data, and finances involved in the process is called supply chain management, which is greatly enhanced by the use of devices connected to the Internet of Things (IoT). IoT is revolutionizing every step of the supply chain, and the network of individuals, organizations, resources, activities, and technology necessary for creating and selling a product.
Supply chains make up the necessary system for moving products from their origins to customers. The production and logistical aspects of the supply chain can be improved with connected devices that collect real-time data about products and conditions from the factory floor, and then automate optimal responses. Industrial IoT can help supply chains become even more efficient and cost effective; for instance, companies with remote elements can more accurately track inventories and make forecasts, speed up deliveries, and manage factory equipment in real time.