Incorporation of RFID Technology in the Inventory Management System to Optimize the Inventory Cost – ‘C’ Programming Approach

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Objectives: To examine and justify the significance of Radio Frequency Identification technology in the inventory management system with scheduled shortages through a C programming approach. Methods: Radio Frequency Identification technology is examined in the inventory and analyzed between the two strategies namely i) non- Radio Frequency Identification technology and ii) Radio Frequency Identification investment in both ordering and Just In Time efficiency. The proposed methods were implemented and solved using C programming to evaluate their effectiveness and operational performance in managing inventory and reducing costs. Findings: An integrated investment evaluation model is established in this work and a comparative study has been made to analyze the assessment model with scheduled shortages in the absence and presence of Radio Frequency Identification technology by assigning the parameters using a numerical example performed by C programming. Results show that the total cost under non Radio Frequency Identification technology is 200547722.557505 whereas the total cost under Radio Frequency Identification technology investment is 100860759.476361. The number of orders placed each year under non Radio Frequency Identification technology and Radio Frequency Identification technology are 182 and 214 respectively. The results imply that the incorporation of Radio Frequency Identification technology in inventory management leads to improved efficiency and accuracy, resulting in increased profitability for an organization. Novelty: Radio Frequency Identification technology investment is incorporated into an inventory system to optimize inventory costs and annual order frequency using C programming, which remains unexplored in existing literature. 2020 Mathematics Subject Classification: 90B05. Keywords: Radio Frequency Identification technology, Investment evaluation, Inventory cost, Shortages, Economic Order Quantity