Supply chain management in the era of the internet of things

The term “Internet of Things (IoT)” was first coined by MIT in the late 90s. It refers to a ‘devices or sensors connected world’ where objects are connected, monitored, and optimised through either wired, wireless, or hybrid systems. The characteristic difference between IoT and the existing Internet has been described as follows: “IoT is an integrated part of the Future Internet and could be defined as a dynamic global network infrastructure with self-configuring capabilities based on standard and interoperable communication protocols where physical and virtual “things” have identities, physical attributes, virtual personalities and use intelligent interfaces, and are seamlessly integrated into the information network” (CERP-IoT, 2009).

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