SMART SRM: UNEARTH THE POWER OF IOT
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TypePrint
- CategoryAcademic
- Sub CategoryPhD Thesis/Thesis
- StreamElectronics and Communications Engineering
Internet of Things and the associated growth has been the driving force in developing all the used cases and implementation of the same in the contemporary business is inevitable. The effectivity and efficiency of the business process depend majorly on the visibility and transparency of communication. This can be achieved seamlessly with the help of implementation of Internet of Things, gathering and collating the real time data to a central repository. The changing market scenario due to the global competition brought a paradigm shift in the customer expectations. Markets marked a fierce competition with organizations struggling to compete in isolation. The competition was observed between supply chains where the entire effort was to create value for the customers. Customer experience turned to be the new brand which ensured market share for the organizations. Organizations embraced digital means of connecting with the customers to have maximum reach and personalization. Internet due to its pervasive presence secured an indisputable space in all the business processes.
Internet of Things is also growing at a brisk pace connecting billions of things globally. This things are sensors which have the capability to sense the state of change when deployed at a particular location and transmit the data over the Internet to a central repository. This real time data is then augmented with context to generate either meaningful insights or enable the next business process inline. Real time data proves to be priceless when embedded with the online analytics enabling business managers with a tool for fact based decision making. The book demonstrates the application of Internet of Things for achieving a seamless Supplier Relationship Management. Supplier who is an integral part of the Supply Chain Management is beyond the organizational boundary. Therefore it is all the more important that the organization is connected with its suppliers. Digital technologies ensure that the suppliers are connected real time with the organization. Internet of Things is the technology identified for the future and rightly so. It ensures that the entire supply chain transforms into a proactive and agile one giving the niche edge to the organization.
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