Q1. Answer the following sub-questions.
- (a)) Explain the concept of the Internet of Things (IoT) and its impact on Supply Chain Management. How does IoT contribute to real-time tracking and inventory management? (500 words)
- (b)) Discuss how technologies such as AI, Blockchain, and Robotics are transforming supply chain operations. Support your answer with examples. (500 words)
- IoT: Network of physical objects collecting real-time supply chain data.
- IoT impact: Enhances SCM visibility, efficiency, and responsiveness.
- IoT tracking: GPS/RFID provide live location and condition monitoring.
- IoT inventory: Automates stock levels, movement, and environmental tracking.
Answer: The integration of advanced technologies like IoT, AI, Blockchain, and Robotics is fundamentally reshaping modern supply chain management (SCM). These innovations enhance visibility, optimize processes, and introduce unprecedented levels of efficiency, responsiveness, and resilience across the entire supply chain network. By leveraging real-time data and automated decision-making, organizations can move beyond traditional, reactive approaches to proactive and predictive SCM.