Internet of Things (IoT) enabled technology in the current applications such as smart grids, smart cities, and smart health sectors utilize wireless sensor networks (WSN) to establish stable and reliable communication between the nodes. Moreover, the primary requirement of WSN in IoT applications is to provide low-rate data communication. The IEEE 802.15.4e standard-based medium access control (MAC) protocol is found suitable for low-rate data communication in WSN. The IEEE 802.15.4e standard adopts a deterministic and synchronous multichannel extension (DSME) MAC protocol which employs a multisuperframe structure with multichannel data transmission during the contention free period. However, the guaranteed time slot (GTS) allocation process in DSME employed by the standard may not be suitable for an adaptive traffic network scenario that has a direct impact on the throughput and bandwidth utilization. In this article, we develop a priority and range-based DSME-GTS allocation algorithm based on the priorities of end nodes and range estimation. Furthermore, the proposed algorithm is developed for the two types of network scenarios encountered in a star topology-enabled WSN. In scenario-1, the slots allocation process is carried out based on the priorities of end nodes.Next, in scenario-2, the slots allocation process is carried out based on the range estimation of end nodes. Detailed mathematical modeling of the proposed methodology is provided for the various performance metrics. The model is validated using the MATLAB 2017a programming tool. Simulation results show that the proposed methodology outperforms the existing DSME-GTS approaches in terms of performance metrics such as packet delivery ratio, end-to-end delay, packet loss ratio, throughput, delay, bandwidth utilization, and the energy consumption.