BE275 Global Supply Chain and Operations Management Assignment Sample
Module code and Title: BE275 Global Supply Chain and Operations Management Assignment Sample
Introduction
Industry 4.0 has developed a well-known scope for business organizations to sustain their business in the global market scenario. In this report a discussion is going to be developed on the global supply chain and operational management in different organizations. Industry Internet of Things (IIoT) and manufacturing aspects in business has grown rapidly with the tech-friendly applications in business organization. Robotics, sensor technology, and other innovative approach have developed broader scope for businesses to enlarge supply chain operation in a competitive business environment. This report will evaluate different issues such
as IIoT to influence competition, manufacturing and operations of supply chain from SMEs aspect.
Literature Review
The Influence of IIoT in the operation of Manufacturing SMEs
The notion of IIoT resembles the “Industrial Internet of Things” which is a significant term related to the connected devices within energy, manufacturing as well as different industrial practices. The importance of IIoT enables enhanced self-monitoring and automation in industrial machinery, which helps in improving the operational efficiency of manufacturing SMEs. The emergence of the “Industrial Internet of Things” as an effective innovation has revolutionized the different operational peripheries practised in SMEs.
In recent times, the adoption of IIoT ensures operational efficacy, for which it is highly appreciated by different small and medium enterprises (Kumar et al. 2021). The application of this technology boosts the safety, productivity and efficacy of SMEs by connecting several legacy-manufacturing procedures, systems and devices, which have historically been composed over time to ensure the business in the creation of value.
For suppliers and customers, the internet of things (IoT) is revolutionising production. On the shop floor and in the back office, the internet of things (IoT) connects the physical and digital worlds. Physical items like tools and machines, as well as the labour force needed to run them, are what producers need. This is what fuels production and produces the finished goods that customers use every day. IoT links these objects and the settings in which they exist to a network to enable the sharing of real-time, accurate information. Making sense of this data helps speed up product development, delivery, and planning for manufacturers.
IoT makes it easier to track machine usage and foresee malfunctions. Workers can thus arrange their workflow well and respond quickly. IoT data also enhances the supply chain’s ability to move information, materials, and goods. For instance, by transporting goods from of the factory to the consumer, automatically identifying in delivery vehicles can assist businesses plan alternative strategies and provide more precise arrival estimates.
Important critical metrics, real-time production status monitoring, and notifications that are pertinent to production are all provided by IoT solutions. With the help of information technology, manufacturers can easily reproduce their production processes, find quick answers to problems, and real – time tracking individual products. It also supports automated reporting and auditing.
In addition, the implementation of the IIoT technology helps in re-structuring the value chains, which is reflected by the acute coordination within the service, products and companies. In fact, the IIoT system helps by providing smart systems, which through communicating with each other develop valuable insights (Müller and Voigt, 2018).
The various advantageous traits, which the application of IIoT brought to the manufacturing SMEs, are “production integration, asset optimization, remote diagnosis, smart monitoring, Predictive Maintenance and the feature of intelligent decision making”. These appropriate systems and features induced with technologies increase the productivity of manufacturing SMEs.
The impact of IIoT on the Supply Chain Operations within the SMEs
The application of the “Industrial Internet of Things” coming to light has improved various sectors of product and operations within different large-scale companies and SMEs. Its technological effectiveness in the functioning of operational activities has proved worthwhile. In the sphere of supply chain operations, IIoT has also left its mark of excellence. For example, the adoption of the aforementioned technology has increased the potentiality of logistics management by authorizing better and faster decision-making processes.
In fact, the IIoT and its implementation enable operational efficacy in the monitoring of the supply chain process and help in effectively mapping the whole supply chain cycle. It also ensures effective transparency, which results in an increase in revenue opportunities (Radanliev et al. 2020). The IIoT and its smart devices help through effectively tracking and locating goods and their locations in an effective manner. The systems of the “Industrial Internet of Things” helps in recognise the possible reasons for the delay in transit and help in planning alternative routes and monitoring storage locations.
Theoretical Concepts
In light of aligning relevant theoretical concepts with operations management and the global supply chain, the theory of the “Technology Acceptance Model” can be taken into consideration. This model of technology acceptance is seen as an “Information Systems Theory” that models the possible ways through which users accept and utilise a specific technology (Granić and Marangunić, 2019). The adoption of this theory influences the behavioural intention of organisation and SMEs, which lead them to utilise a certain technology or innovation. The utilisation of this theoretical model will help SMEs in understanding the efficacy of the IIoT technology and will pursue them in adopting the “Industrial Internet of Things”.
Impact of IIoT in the competitiveness in manufacturing SMEs
The industrial internet of things (IIoT) has a huge impact in the competitiveness and manufacturing of SMEs. It serves as a noble manufacturing flexibility which ensures the adaptability of production system and value chain. In terms of maiming the future global system, it has a huge impact on the technological change on manufacturing systems. This implicates technological chance and results in additional global competitiveness. Existing value chain keeps changing resulting in opportunities for new business models. In general, the industrial internet of things has a relative research field.
For this purpose, there is going to be discussion on the further chance of the prior literature concern. After a structured selection of this topic, it is eventually identified as one of the most used technologies nowadays. This discussion shows that the IIoT that enables an increasing individualized necessities that experts Rae proposing into small products. There are many manufacturing problems regarding the SMEs in the field of Industrial Internet of things. However, having IIoT can also help in this factor.
This study is focused on the manufacturing impacts regarding IIoT. Simply, this asset integrated with the real time data that provides information about manufacturers who make informed decisions. This particular sensor of device allows and provides important information regarding the conditions of machine, which has been used for the analysis and prediction of the manufacturing outcomes.
This significant device promises to have a profound effect on the manufacturers by giving them proper plan, analyzed and optimizing processes which connect machines, devices, systems and humans. Through the other applications, such as encouraging the usage of renewables and energy efficiency increasing, IIoT technology have the capability to minimize any impact in a business, helps them in adapting to a new environment and at the same time it gains maximum efficiency and productivity (Dutta et al. 2021). In the midpoint of this study, it has been seen that IIoT, helps in the manufacturing process of the small and medium sized business by giving them the ability of efficiency and productivity.
Role of IIOT in business operation and transformation in operation process
Industry 4.0 e. g. Technological industry helps in creating hassle free production by providing them with the proper data on how to manage their manufacturing process and have a proper knowledge about them. On the other hand, IIoT has an impact on profitability and productivity. This feature also helps in managing the logistics and in their maintenance (Pylaeva et al. 2021).
There are many positive and negative impacts connected to the matter of using IIoT in the manufacturing field. This feature has more positive impact than the negative ones. In the proper management of quality control, tracking data about product manufacturing, it also continues to create new opportunities for increasing potential (Moeuf et al. 2018).
According to Boyes et al. (2018), apart from this, there are some negative impacts also in the small and medium sized business of using the Industrial Internet of things(IIoT). Some negative impacts include adoption, high cost, much more efforts, a certain amount of money, time costing etc. For some of the businesses, it can cause certain limitations as they don’t have the proper equipment and the proper usage of IIoT because it needs some certain tools.
Many businesses want to use the IIoT in the purpose of manufacturing their product, but they lack those certain tools that IIoT needs. Perhaps, it has some bigger disadvantages in the issue of security (MENKHOFF et al. 2022). Some security issues in the platform IIoT include integration of limited security, poor testing of manufacturing products etc. Furthermore, there are many impacts of the IIoT in the manufacturing industry (Javaid et al. 2021).
In summary, the role of information technology of things (IoT) in manufacturing is the next development in the industrial revolution. Automation is the technology of the future, and this could be accomplished by putting technologies into reality. One of the best technologies in the modern world is the Iot. Its implementation has benefitted thousands of businesses, and many more are planning to do the same in the near future. Implementing the internet of things will provide a competitive advantage and will expedite the optimization of your operations (IoT).
This significant essay has shed a light on the recognizable impacts regarding the usage of IIoT in order to manufacture a product. This has also detailed research about the possible positive outcomes IIoT can have in the field of productivity. A detailed discussion has been done throughout the study to give an understandable theory to the readers.
The essay has described the process of application of IIoT within different organizations along with the benefits and challenges of application. Thus, it describes the process of application of IIoT with the importance of this application within the SME sector (Ramesh & Varadarajan, 2018). Thus, the analysis has developed brief concept of IIoT for increasing application of the “Industry 4.0” within different organizations.
Thus, similarly, this developed key concept of the industrialization through innovation for increasing value creation and logistics management of the organizations. Moreover, increasing innovation allows the organization to generate competitive advantage within the organizational market by creating innovation for critical problems within organizations (Adegbite et al. 2021).
Thus, it has developed the process of improvement of different SME organizations along with their increment process through innovative technological solutions within different sectors. Hence, this study invests a huge contribution in developing the innovative solutions for critical problems within different technologies and communication plan within the organizations.
Conclusion and Recommendation
Conclusion
In conclusion, it can be said that Industrial IoT has enhanced both challenges and opportunities for businesses to in every industrial sector. Additionally, a SME can engage business challenges as it has less financial support to adopt latest business technologies. On other hand, there are different opportunities in business that can also be enhanced through IIoT.
Supply chain operation in business with real-time tracking system through IoT and sensor technology has also developed a business scope for organizations which are in growing phase. Thus, it can be said that IIoT has developed huge business opportunities for SMEs to control their business operation and supply chain.
Recommendation
Analysis of all aspects of IIoT implementation in SMEs business has been developed in this study. This discussion has identified as issue of fund availability for SMEs in the competitive market scenario. In the way to mitigate this issue it can be said that SMEs should employ financial analyst in its business to grow business profit and sustainability (Rojas & Ruiz Garcia, 2020). Additionally, it has been also recommended that proper budgeting of technology incorporation can mitigate issues of fund shortage in business.
Thus, another recommendation that can be generated to mitigate fund crisis issue is to ensure contingency fund in business so that any emergency fund requirement can be engaged. Another issue of skilled employees is observed in this analysis and for this SMEs should engage proper skilled workforce to employ technology in business. Additionally, training with latest technologies is another option for business to sustain its growth.
References
Adegbite, W. M., & Govender, C. M. (2021). Emerging Roles of Small and Medium Enterprises in the Fourth Industrial Revolution in Africa. Mediterranean Journal of Social Sciences, 12(6), 151-151. https://www.richtmann.org/journal/index.php/mjss/article/view/12706/12305
Boyes, H., Hallaq, B., Cunningham, J., & Watson, T. (2018). The industrial internet of things (IIoT): An analysis framework. Computers in industry, 101, 1-12.
Dutta, G., Kumar, R., Sindhwani, R., & Singh, R. K. (2021). Adopting Shop Floor Digitalization in Indian Manufacturing SMEs—A Transformational Study. In Advances in Industrial and Production Engineering (pp. 599-611). Springer, Singapore. https://www.researchgate.net/profile/Ravinder-Kumar-8/publication/349438124_Adopting_Shop_Floor_Digitalization_in_Indian_Manufacturing_SMEs-A_Transformational_Study/links/609b92e2299bf1cbe2f1f291/Adopting-Shop-Floor-Digitalization-in-Indian-Manufacturing-SMEs-A-Transformational-Study.pdf
Granić, A. and Marangunić, N., 2019. Technology acceptance model in educational context: A systematic literature review. British Journal of Educational Technology, 50(5), pp.2572-2593. Retrieved from https://bera-journals.onlinelibrary.wiley.com/doi/abs/10.1111/bjet.12864, Retrieved on 03.12.2022
Javaid, M., Haleem, A., Singh, R. P., Rab, S., & Suman, R. (2021). Upgrading the manufacturing sector via applications of industrial internet of things (IIoT). Sensors International, 2, 100129. https://www.sciencedirect.com/science/article/pii/S2666351121000504
Kumar, R., Sindhwani, R., & Singh, P. L. (2021). IIoT implementation challenges: analysis and mitigation by blockchain. Journal of Global Operations and Strategic Sourcing. Retrieved from https://www.emerald.com/insight/content/doi/10.1108/JGOSS-08-2021-0056/full/html, Retrieved on 03.12.2022
MENKHOFF, T., & GOPALAKRISHNAN, S. (2021). Smart manufacturing and its implications for Singapore’s SMEs. https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=7840&context=lkcsb_research
Moeuf, A., Pellerin, R., Lamouri, S., Tamayo-Giraldo, S., &Barbaray, R. (2018). The industrial management of SMEs in the era of Industry 4.0. International Journal of Production Research, 56(3), 1118-1136.
Müller, J.M. and Voigt, K.I., 2018. Sustainable industrial value creation in SMEs: A comparison between industry 4.0 and made in China 2025. International Journal of Precision Engineering and Manufacturing-Green Technology, 5(5), pp.659-670. Retrieved from https://link.springer.com/article/10.1007/s40684-018-0056-z, , Retrieved on 03.12.2022
Pylaeva, I. S., Podshivalova, M. V., Alola, A. A., Podshivalov, D. V., & Demin, A. A. (2022). A new approach to identifying high-tech manufacturing SMEs with sustainable technological development: Empirical evidence. Journal of Cleaner Production, 363, 132322. https://www.sciencedirect.com/science/article/pii/S0959652622019266
Radanliev, P., De Roure, D., Page, K., Nurse, J. R., Mantilla Montalvo, R., Santos, O., … & Burnap, P. (2020). Cyber risk at the edge: current and future trends on cyber risk analytics and artificial intelligence in the industrial internet of things and industry 4.0 supply chains. Cybersecurity, 3(1), 1-21. Retrieved from https://cybersecurity.springeropen.com/articles/10.1186/s42400-020-00052-8, Retrieved on 03.12.2022
Ramesh, J., & Varadarajan, Y. S. 2018. Sustainable value addition to Micro, Small, and Medium Enterprises (MSMEs) in India: A review of Industry 4.0. https://www.researchgate.net/profile/Jangam-Ramesh/publication/351660889_Sustainable_value_addition_to_Micro_Small_and_Medium_Enterprises_MSMEs_in_India_A_review_of_Industry_40/links/60a3c619a6fdccb8dc65c2af/Sustainable-value-addition-to-Micro-Small-and-Medium-Enterprises-MSMEs-in-India-A-review-of-Industry-40.pdf
Rojas, R. A., & Ruiz Garcia, M. A. (2020). Implementation of industrial internet of things and cyber-physical systems in SMEs for distributed and service-oriented control. In Industry 4.0 for SMEs (pp. 73-103). Palgrave Macmillan, Cham.
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Serror, M., Hack, S., Henze, M., Schuba, M., &Wehrle, K. (2020). Challenges and opportunities in securing the industrial internet of things. IEEE Transactions on Industrial Informatics, 17(5), 2985-2996.
Sisinni, E., Saifullah, A., Han, S., Jennehag, U., &Gidlund, M. (2018). Industrial internet of things: Challenges, opportunities, and directions. IEEE Transactions on Industrial Informatics, 14(11), 4724-4734.
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