Low-Cost Asset Tracking and Inventory Management System (ATIM)

Abstract

In any supply chain, the warehouse is the main component in linking the chain partners and nowadays it acts as a competitive factor. Current Inventory management Systems are slow, inefficient concerning managing and tracking the huge demand for large inventory traffic and hence make a poor customer experience while managing large, urgent and important inventories. Internet of Things (IoT) is a promising technology that can be used in the context of Industry 4.0. This paper aims to improve inventory management efficiency multi-folds and enhance stock SCM (supply chain management) analysis for market planning. This solution strengthens store operations & inventory management smartly, safely and efficiently. Also, the blocks and layers of IoT are illustrated. Finally, the benefits and challenges of implementing IoT in the SCM and the warehouse are discussed.