Industrial Revolution 4.0 and Supply Chain Management

Abstract

Innovation is taking place rapidly, which is changing the demand level. Diversifying the supply chain with changing demand patterns is another challenge to meet. Industrial Revolution (IR) 4.0 is the new way to effectively manage the supply chain process with the updated conventional business model. The technology enhances the traditional business model and improves distance relations among companies and customers through well managed distribution channels, creates high-level customer satisfaction, and provides timely information in each stage of the supply chain process. Innovative technology allows companies to make more profit by saving time and making an additional product to meet specific demands cost-effectively. It is also reducing human efforts, which will be taking place by robotics soon. The industrial revolution is the new beginning of an environment where the supply chain will be managed by intelligent technology, improving the overall process of value chains.