Review of AI, ML and IoT Application in Supply Chains from the Perspective of Developing Countries

Abstract

This paper examines how changes are occurring in the management of supply chain from the perspective of digitization—the combination of supply chain procedures and technology. The introductory section highlights the revolutionary effects of cutting-edge technologies on supply chain dynamics, including artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT). It is highlighted that the focus has shifted from the conventional cost-effectiveness goals to more comprehensive including efficiency, sustainability, and customer satisfaction. After that, the emphasis moves to a thorough examination of AI's application in supply chains, emphasizing its ability to enhance efficiency, optimize capacity planning, provide safer working environments, and forecast demand. There are acknowledged challenges, such as the requirement for specialized technology and cloud-based operations. The importance of machine learning in managing supply chain elements, finding trends, and surpassing traditional statistical techniques is explored, with a focus on how it may be applied to real-world supply chain problems. The IoT is shown to have the ability to detect material movements, monitor vendor deliveries, and maintain product integrity while in transit. The research goal of examining the Fourth Industrial Revolution's (4IR) applications in the supply chains of emerging nations is delineated in the methods section. Reviewing previously published scientific works and determining the scope of upcoming research are among the goals. The last five years' worth of literature are reviewed, and papers addressing the uses, effects, and obstacles of digital technology in developing nation supply chains are analyzed using a literature-based methodology. The findings of this report show that the supply chain management of developing nations is being greatly impacted by emerging technology. In the healthcare industry, the Internet of Things (IoT) provides real-time data, cost savings, and streamlined processes. Nonetheless, developing nations continue to face difficulties. Supply chain performance is enhanced by digital technologies including blockchain and the Internet of Things, which offer operational efficiency, transparency, and traceability. Blockchain enhances efficiency and safety while addressing sustainability issues. Artificial Intelligence (AI) lowers costs and streamlines operations to improve operational efficiency. Productivity and manufacturing are improved by machine learning. The integration of IoT in food supply chains can enhance operations; nevertheless, obstacles such as inadequate standards and security threats need to be addressed. Adoption of big data improves company performance, while AI improves communication with customers and coordination. Digital closed-loop supply chains use blockchain to save costs and allay environmental concerns, while digital technologies significantly enhance waste management. IoT technologies enhance decision-making, cut down on waste, and improve product quality. In conclusion, this study shows how advanced technologies completely transform supply chain management in developing nations. But there are still issues with their acceptance, which calls for more study to get past them and enhance resource management, cut down on waste, and advance sustainability.