Abstract: The Industrial Internet of Things (IIoT), as a new industrial ecosystem integrating advanced information technologies with manufacturing, holds significant importance for enhancing operational efficiency and promoting high-quality development in the manufacturing sector. A comprehensive analysis of literature related to operational management in the IIoT context reveals several key findings. 1) Research on IIoT platforms often employs qualitative methods to analyze their application scenarios and ecosystems across various industries. However, it is essential to focus on quantitative methods to explore operational and coordination mechanisms in depth. 2) Existing studies on value creation suggest enhancing product quality, reducing costs, and optimizing business processes through digitalization, networking, and intelligence. Thereby, it highlights the importance of understanding value co-creation mechanisms and patterns among multiple stakeholders, including manufacturing enterprises and customers. 3) Current research primarily concentrates on optimizing individual activities in production operations using IIoT technologies, mathematical models and algorithms. Nevertheless, there exists a critical need to investigate methods for constructing integrated collaborative processes with the cycle of “research, manufacturing and maintenance” within the IIoT environment, along with exploring multi-level closed-loop decision-making systems and intelligent decision-making methods. 4) It is demonstrated that supply chain management in IIoT can improve operational performance through interconnection, visibility, real-time capabilities, and traceability, while the impact of technology adoption on strategy selection and coordination mechanisms is also explored. Future attention may shift towards downstream clients in supply chain management.

Key words: industrial internet of things (IIoT), value creation, operational management, supply chain management