Supply Chains are the essence of any business, impacting the entire value chain from the procurement, manufacturing, quality, delivery, mobility, and costs of a business’s products and services to ultimately profitability and return on assets. To avoid disruption, and become resilient - which is the utmost necessity of the hour, businesses need to digitally transform immediately. The rapid rise of innovations and operational evolutions such as Industry 4.0 and the upcoming Industry 5.0 is leading to a profound new era of the integrated digital supply chain. Although the Internet of Things (IoT) is said to be a cornerstone technology for the newly emerging Industry 4.0 era, there is no empirical data on IoT utilization in supply chain management. The supply chain management and logistics operations can be greatly improved with the use of Internet of Things (IoT) solutions, offering transparency and cost-effectiveness that is only possible with the use of this cutting-edge technology. The use of IoT in Supply Chain Management (SCM) makes it possible to manage and monitor assets in real-time, offers data for advanced planning and optimization, increases the effectiveness of storage and transportation, and promotes sustainability.This paper discussed the supply chain management, its problems, the ways IoT is revolutionizing Supply Chain Management, and the challenges and opportunities that face applying smart SCM, and propose a conceptual framework for smart SCM.