How the ‘Internet of Things’ is Revolutionizing Supply Chain Management and Logistics

The "Internet of Things" (IoT)—a term used to describe the expanding ability of machines to communicate virtually with each other—is becoming increasingly important in supply chain management. By embracing emerging virtual technologies, medical device makers are finding new ways to improve efficiency and logistics in the supply chain, while at the same time cutting costs. Some examples of IoT devices are smart cabinets that can detect when hospital supplies of particular devices are running low and automatically re-order those products, smart robots that can manufacture devices on demand, and sensors that can analyze each step of the supply chain and provide data that can be used by managers to improve the manufacturing process.