The supply chain has evolved significantly over the past few years. However, the current developments caused by the coronavirus pandemic have made the changes even faster than it had been anticipated. The COVID-19 pandemic has altered many things starting from product suppliers, strategies all the way to supply routes. According to a study by Ocean Insights, coronavirus pandemic could result in greater collaboration and technological innovations across this industry than ever before. According to the study, 42% of the shipping and freight professionals are likely to change their supply chain strategies. Of these professionals, 67% see investment in technology as an area that will substantially alter their operations after the pandemic.

No matter the industry or company that you work in, be it an expanding corporation or a small enterprise, the fortunes and success in operations are linked in one way or another to the performance of the supply chain. Therefore, if you want success in your business, you have to ensure the supply chain works effectively. With COVID-19 now ravaging many industries and dealing the biggest ever blow to movement of goods and services, the supply chain requires attention now more than ever.

Internet of Things (IoT) is a technology that needs no introduction. It has become a leading topic of conversation in the world of technology and is slowly making way into almost every aspect of our lives. The manufacture of IoT devices has been growing significantly mainly in areas such as manufacturing and supply chain management. Research by Forrester Research in 2018 indicated that the largest spending on IoT would be experienced between 2017 and 2023. This spending will be focused on enabling new business models which include software and software-as-a-service (SaaS).