Smooth flow, integrity, and traceability of the processes in supply chain (SC) and logistics management is vital for Supply Chain Management (SCM). Companies are looking for and utilizing new technological applications for end-to-end management of the entire set of SC processes and assets to ensure on-line and real-time monitoring across processes and partners. Therefore, this article comprehensively addresses the role and impact of the Internet of Things (IoT) on SCM via a comprehensive literature review. The applications of the IoT term in the SC are examined in detail, and its benefits and challenges are discussed from SCM perspective. The findings reveal the dramatic impact that IoT has on SC processes as one of the most essential technologies of the twenty-first century.