The Internet of Things (IoT) has transformed the way warehouses are managed across the board, from manufacturing to retail inventory management. Offering greater end-to-end visibility, IoT digital transformation — made possible with radio frequency identification (RFID) tags and IoT-enabled sensors — is helping businesses automate and streamline their inventory tracking, enhance order accuracy and fulfilment speed, and forecasting capabilities.
Using data harvested from sensors across the supply chain and beyond, businesses are able to balance production and supply to prevent stockout or overstocking situations — allowing them to reduce costs of storage, optimise inventory space, and ensure the accuracy of inventory lists.
Upon leaving the factory or warehouse, deliveries can be tracked to consolidate deliveries and optimise routes, improving fuel efficiency and reducing redundant journeys. This real-time tracking also helps to give receivers an accurate time of delivery for onward planning.
Further down the chain, IoT is also making it easier for retailers to improve the experience for customers by introducing smoother ways to shop, such as automated checkouts. Retailers can, for example, use a combination of radio frequency identification (RFID) tags, AI, and other sensors to track what shoppers buy, allowing them to be automatically (and, most importantly, accurately) charged without the need for scanning.
Keen to explore how IoT could be used to give your business a data-fuelled boost?
We’re happy to talk. Get in touch with one of our experts or read through our collection of IoT e-guides and solutions if you’d prefer to explore the possibilities on your own first.
Want to read about more ways IoT is transforming industries? Have a look at the other articles in the series: How IoT is changing the world for businesses — and beyond.
