 The Internet of Things (IoT) in retail: Bridging supply and demandFelipe Caro and Ramin Sadr Business Horizons, 2019, vol. 62, issue 1, 47-54 Abstract: A sales channel serves two primary functions: delivering information and products to customers. Omnichannel retailing allows for the decoupling of these two functions as consumers can learn about products through channels that differ from those used to purchase them. This separation requires a sophisticated inventory and supply chain operation, as well as integration of all customer touchpoints, in order to match fast-moving supply and demand. The Internet of Things (IoT) can play a fundamental role in channel integration because it allows companies to rebalance supply and demand. We classify IoT initiatives on an opportunity map, presenting a strategic framework that distinguishes initiatives by the value they create and by their major area of impact. We justify the adoption of IoT in terms of its enabling capabilities—those immediately realized by deploying IoT sensor data—but its true potential resides in its enhancing capabilities—unanticipated benefits following IoT adoption—at the intersection of supply and demand. Keywords: Internet of Things; Omnichannel; Retailing; RFID; Technology adoption; Sensor data (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:bushor:v:62:y:2019:i:1:p:47-54 DOI: 10.1016/j.bushor.2018.08.002 Access Statistics for this article Business Horizons is currently edited by C. M. Dalton More articles in Business Horizons from Elsevier |
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