Impact of Internet of Things (IoT) on Inventory Management: A Literature Survey

Yasaman Mashayekhy, Amir Babaei, Xue-Ming Yuan and Anrong Xue
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Yasaman Mashayekhy: Singapore Institute of Manufacturing Technology, Agency for Science, Technology, and Research (A*STAR), Singapore 138634, Singapore
Amir Babaei: Engineering Faculty, Friedrich-Alexander-University, 91054 Erlangen, Germany
Xue-Ming Yuan: Singapore Institute of Manufacturing Technology, Agency for Science, Technology, and Research (A*STAR), Singapore 138634, Singapore
Anrong Xue: School of Computer Science and Communication Engineering, Jiangsu University, Zhenjiang 212013, China

Logistics, 2022, vol. 6, issue 2, 1-19

Abstract: Background : The advancement of Industry 4.0 technologies has affected every aspect of supply chains. Recently, enterprises have tried to create more value for their businesses by tapping into these new technologies. Warehouses have been one of the most critical sections in a supply chain affected by Industry 4.0 technologies. Methods : By recognizing the role of inventory management in a supply chain and its importance, this paper aims to highlight the impact of IoT technologies on inventory management in supply chains and conducts a comprehensive study to identify the research gap of applying IoT to inventory management. The trend and potential opportunities of applying IoT to inventory management in the Industry 4.0 era are explored by analyzing the literature. Results: Our findings show that the research on this topic is growing in various industries. A broad range of journals is paying particular attention to this topic and publishing more articles in this research direction. Conclusions : Upgrading a supply chain into an integrated supply chain 4.0 is beneficial. Given the changes in fourth-generation technology compared to previous generations, the approach of conventional inventory replenishment policies seems not responsive enough to new technologies and is not able to cope with IoT systems well.

Keywords: supply chain management; inventory management; Industry 4.0; Internet of Things (IoT); warehouse management; smart warehouse (search for similar items in EconPapers)
JEL-codes: L8 L80 L81 L86 L87 L9 L90 L91 L92 L93 L98 L99 M1 M10 M11 M16 M19 R4 R40 R41 R49 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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