Research on Impact of IoT on Warehouse Management

Abstract

Automation and digitisation are the driving force of the Industrial Revolution 4.0. Industrial revolutions led to the mass production of goods, which increased the need for modern warehouses. Every year, the operation of warehouses becomes increasingly more complicated due to the increasing abundance of goods, thus the usual warehouse management strategies are no longer suitable. In order to cope with huge product flows, modern innovations should be used more extensively to manage these processes. Successful management will help provide quality service to rapidly changing business sectors. The Internet of Things (IoT) is a technology designed to process large amounts of data with maximum efficiency in real time. This technology can facilitate the implementation of smart identification, tracking, tracing, and management using radio frequency identification (RFID), infrared sensors, global positioning systems (GPS), laser scanners, and other detection tools. Such innovations as IoT have made a significant impact on warehousing operations. The aim of IoT is to perform administrative work, i.e., to efficiently manage warehouse data. IoT can be used to monitor and track goods, forecast demand trends, manage inventory, and perform other warehouse operations in real time. The key elements of a warehouse are sales and customer satisfaction. Implementing IoT improves financial performance, work productivity, and customer satisfaction. However, innovation requires additional investment in, for instance, implementation and maintenance. It is necessary to investigate how warehouse elements such as inventory accuracy or order processing time are affected by the internet of things in companies of different sizes. Research on the impact of IoT on warehouse management focuses on IoT advantages, disadvantages, mitigation risks, and the use of IoT in warehouses. The aim of this work is to research the impact of IoT on warehouse management in companies of different sizes and to determine whether the costs and benefits of IoT differ in the same scenario. As a result, the conceptual model for the adoption of IoT measures in warehouse companies was created, and its suitability was assessed by experts.

An Intelligent Cargo/Warehouse Management System

“…The system utilizes RFID chips for goods management and detection and unmanned intelligent vehicles for automated delivery. Real-time data is uploaded to a cloud-based database, providing an efficient and costeffective solution for warehouse management [12], [13], and also being effective for monitoring and making decisions for controlling the carbon footprint of the venue under monitoring.…”

Industrial Internet of Things (IIoT) and Other Industry 4.0 Technologies in Spare Parts Warehousing in the Oil and Gas Industry: A Systematic Literature Review

“…According to Jaraš ūniene et al [33], IoT is the key technology in processing data in warehouse management with high efficiency. IoT's use in warehouse management is stated to encompass monitoring, tracing goods, demand trend forecasting, inventory management, and other real-time warehouse operations.…”

Exploring the Full Potentials of IoT for Better Financial Growth and Stability: A Comprehensive Survey

“…However, embracing IoT adoption emerges as the decisive step towards comprehensive business management, ushering in a multitude of transformative outcomes. IoT adoption sets the stage for astute business management, empowering organizations to synchronize and optimize diverse factors influencing their operations [25]. By seamlessly integrating IoT devices into their workflows, businesses gain real-time visibility and control over various processes, enabling them to make data-driven decisions, improve efficiency, and streamline operations with unprecedented precision.…”