The IoT or the “Internet of things” creates a network of connected devices that exchange information over the internet. From ordinary household tasks to industrial automation, IoT has proven beneficial every step of the way. Inventory management faces multiple challenges daily, from data inaccuracy to inefficient processes and time-consuming operations. However, IoT for inventory management can simplify these concerns in a jiffy! Maybe it is time to advance with smart technologies and switch to IoT by automating your inventory management process.
5 reasons why IoT is a pragmatic solution for inventory management:
- IoT enables remote monitoring
Manual monitoring and documentation can be a time-consuming process and more often than not, leads to errors. IoT enables automated documentation that can save you a lot of time and money.
- Automated data management
Data accuracy or loss of data would no longer be a threat. Store accurate and large amounts of data without a hitch. Easily access or track the data anytime, anywhere.
- Real-time reporting and alerts
Make better decisions with real-time visibility to inventory and get instant notification of the location, movement, quantity, and status of the stocks in the inventory.
- Manage logistics efficiently
With the help of proximity sensors, it is easy to keep track of movements and end-to-end traceability of assets, especially when it comes to supply chain and logistics.
- Augmented data analytics
Data collected through IoT-enabled devices are accurate and up to date. This, in turn, helps in predictive maintenance, accumulating valuable insights, and enhancing future operations.
Thingstel’s IoT solutions have already spread their roots in inventory management and have proven to be a great asset to its esteemed customers. Here’s a brief outlook on how Thingstel’s IoT solution has helped simplify the inventory management process:
1. Automation of SKU level Inventory Management for Packaging Machines
One of the most crucial challenges manufacturing companies face is at the SKU level. There is a need for efficient monitoring of the inventory products manufactured across multiple machines.
This is where Thingstel’s IoT solutions came in handy. From upgrading the factory machines to IoT-enabled smart connected equipment and setting up proximity sensors, Thingstel ensures the best and latest technology for maximum efficiency. The result of incorporating Thingstel’s IoT-enabled automation for SKU level inventory management is:
- Front-end visualization of live production data
- Real-time updates on production inventory
- No more manual documentation and reporting
- Accurate, precise, and real-time data collection and augmented data storage
- User-friendly access to data and analytics
2. Commercial Refrigeration Temperature Monitoring for School Inventory
Managing the inventory could be an arduous task, especially when it contains perishable items stored in refrigeration units. One of the challenges faced in this scenario is monitoring the inventory remotely. Manual monitoring is laborious and may include outdated information that could lead to inventory loss and damage.
Thingstel’s temperature monitoring helped curb this issue effortlessly by upgrading to IoT for inventory management and automating the process. With sensors and state-of-the-art web and mobile applications, Thingstel’s IoT solutions proved profitable with the below-mentioned outcome:
- Real-time remote monitoring of refrigeration units
- Accurate data collection, documentation, and storage
- Instant alerts via SMS and E-mails
- User-friendly web and mobile application for ease of use
- Exceptional data security and privacy
- Compliance reports
Thingstel continues to soar with its innovative and cutting-edge IoT solutions that simplify various challenges faced in day-to-day operations. Switch to IoT for inventory management today and step into an error-free, effortless, and automated process that could reduce losses, increase ROI and boost efficiency.
Have you upgraded your inventory management to IoT enabled smart and automated process yet?