Internet of things
This refers to billions of devices around the world, all connected to the internet.
The term is mainly used for devices that wouldn’t usually be expected to have an internet connection. Applications include transmitting signals about demand, updates about the status of a product for maintenance or location services, and tracking in the supply chain.
The internet of things has big applications in supply chain operations, and also extends into the connected home, applying to items such as light bulbs, thermostats, and streetlights. All these objects can now communicate and operate without human interaction.
Research being conducted by Matthias Holweg, Professor of Operations Management, investigates the application of real-time sensor tracking and its connectivity to improve the operation and performance of supply chains. Specific questions being asked include how connected devices can improve ordering decisions, order fulfillment and stockholding within manufacturing and retail contexts.