The rapid advancement of the Internet of Things (IoT) has transformed traditional warehousing into smart, data-driven ecosystems that enhance operational efficiency, financial performance, and managerial decision-making. This study evaluates the adoption of IoT-enabled smart warehousing practices in Mumbai, focusing on their impact on finance and operations management. By integrating sensors, RFID tags, automated guided vehicles, and cloud-based analytics, warehouses achieve real-time inventory visibility, reduction of errors, and improved cost efficiency. The research examines financial implications such as return on investment, cost reduction, and working capital optimization, alongside managerial outcomes including productivity, customer satisfaction, and decision-making accuracy. A structured methodology using surveys and statistical tools such as Chi-square, ANOVA, correlation, regression, factor analysis, and SEM is applied to assess responses from warehouse managers, logistics providers, and supply chain experts in Mumbai. The findings highlight significant correlations between IoT adoption and financial efficiency, while also revealing managerial challenges in implementation, including cost of integration and employee training.This study contributes to both theory and practice by offering empirical evidence of IoT’s role in smart warehousing and its direct financial and managerial benefits. The results suggest that IoT-enabled warehouses in Mumbai are transitioning from cost centers to value-generating units that enhance competitiveness in India’s logistics and retail ecosystem. The study also proposes recommendations for overcoming adoption barriers and outlines future research agendas to strengthen the financial and operational sustainability of smart warehouses.