Smart Inventory Control

Abstract

The balance between the market demand and the supply is the most important criteria not only in the era of digital marketing. The industrial revolution 4.0 put a great impact on growth of companies, constant demands of product variety and the supply cannot be achieved by the traditional inventory management model due to its heavy workload and comparatively low efficiency. This paper reflects the novel intelligent inventory management system with the aid of the IoT and the RFID has put great exposure and control as well as the structured work frame, the method explained its principles and structure. The traditional model is being modified by the root and the new framework has been developed with a perspective to expect good prospects for its development and more errorless and convenient linearity principle. As companies operate globally and deal with innumerable no of components have to deal with warehouses, inventory management and tracking of each individual becomes a tedious element and a huge amount of time and manpower is being invested to track inventory and ensure the right supplies with no shortage of supply. They invested money in an optimized way to manage the key area for customer service and cost optimization in any manufacturing facility company growth with the least procured investment in a smart way. Traditional robotic arm systems for picking and placing inventory were based on premises for marking areas of the warehouse and tracking them.