Impact of Internet of Things in Mitigation of Supply Chain Risk and Disruption

Abstract

The purpose of this thesis is to explicate as to how risk in the current state of the supply chain can be mitigated using Internet of Things. The application of IoT characteristic in the new and widespread and dynamic supply networks open great possibilities for visibility, near real-time updates and flexibility. This thesis aims at reviewing how internet of things (IoT) with the help of predictive analytics aids in decision making and supply chain resilience especially when it comes to certain challenges such as insecurity, compatibility and preparedness of the organization. According to the research methodology, this research work is of an inductive nature, and accordingly this research study uses descriptive research method, and practising sample data encompassing semi-structurally constructed interviews conducted with the practitioners operating in the supply chain. To achieve the research objectives of the study, four theories explained in this study are Resource-Based View (RBV), Institutional Theory, Contingency Theory and Stakeholder Theory. It is as follows; concerning systematic risks at a preliminary stage, the management of risks that enhances efficiency and the interruption management. This opens potential for new developments for supply chain managers, technological suppliers and companies operating in high-risk areas towards integrating smart, innovative and efficient supply chain solutions supported by the IoT.