ABSTRACT
Internet of things (IoT) is one of the prominent digital technology from the Industry 4.0 revolution. Cyber physical systems are the main contributors to Industry 4.0. IoT has entered almost all the business process. In this article, we evaluate the implementation in one of the supply chain management construct, i.e., Procurement. Fundamentally, the process that links all the members in the supply chain assuring and managing the quality of supplies as per the business process and customer expectations is termed as Procurement. A procurement process deployed successfully can become a game-changer for an organization bringing in the competitive advantage for the organization amidst volatile customer demands. The entire information required for procurement to take action needs to be made available on a common platform where each of the stakeholders is able to comprehend his part and take appropriate action. There is an indisputable need of real-time data to flow right from the customer to the supplier. With the advent of IoT, the physical world can now be connected to all the systems with the Internet. IoT implemented in the procurement function proves as an enabler, transforming it into a digital workspace creating intelligent spaces. The chapter constitutes an introduction to the subject and literature review that helps hypothesis formation. Research methodology conducted includes measurement model analysis with structured equation model. The discussion section reveals the importance of the implementation of IoT and real-time data. Limitations, future study, and conclusion help explain the subject and the next steps of the case.
