When talk turns to the Internet of Things, people are often quick to associate it with something that is difficult to grasp – a form of technology that is still being researched and will only become really useful in the distant future. In many cases, individual businesses are given no specific ideas as to how they stand to benefit. Yet there are some solutions provided by the Internet of Things that are very pragmatic, such as smart inventory.
Good inventory management is crucial
Goods are ordered, stored, processed, stored, manufactured, stored, and shipped. Having precise knowledge of items in stock and what has been delivered as well as what is being processed and shipped is essential for company profitability and thus the optimal utilization of resources. The ability to discover this information in real time plays a key role because manufacturers can no longer afford poor demand planning and inadequate inventory management if they want to be competitive. In particular, it is important to reduce the bullwhip effect, limiting inventory fluctuations, and improving order decisions.
Create value with an optimized inventory
In a digitized value chain, real objects are linked to the virtual world, which means they are integrated into the planning and control of the manufacturing process. Stationary and mobile sensor solutions in conjunction with the relevant software make transport, storage, and production processes even more transparent, thus reducing risks for the manufacturer. Smart containers are a clear example of the practical benefits and far-reaching effects of the Internet of Things: they can always be clearly identified and located while independently communicating with their environment and carrying all relevant data on board. However, optimal inventory planning and sharing data from production and logistics also ensures that companies only have the goods and materials in stock that they really need. Ingenics offers innovative solutions and comprehensive expertise in inventory management, allowing you to make full use of opportunities to add more value.