Smart Supply Chains- A Futuristic Business Scenario

Supply chains have transitioned from simple logistic functions to futuristic supply chains, having traveled the journey from mere coordination of production and dispatch duties to become the essence of business setups. Information and Technology have changed supply chain management's infrastructure and working mindsets. Agility, reliability, and efficiency have become synonymous with supply chain outcomes due to the alignment of Technology and intelligence. In this chapter, concepts of Industry 4.0 and Logistic 4.0 or Smart supply chains are discussed to understand their evolving trends, needs, and relevance in changing global business setups. This research covers the need and steps of automation, operative and strategic aspects, and actual and potential application of automation in supply chains.