Skip to content

IoT-Driven Inventory Management

Only 33% of manufacturers employ inventory management software, according to recent research, with the remaining 67% relying on Excel or paper-based approaches. They waste an average of 18 hours per month writing inventory details on a piece of paper and entering data into a spreadsheet for each item. However, labor-intensiveness isn’t the only problem: according to Marketwatch, 88% of spreadsheets have inaccuracies.

Because there are so many variables in modern supply chains, inventory management — understanding how much inventory you have and how it circulates through your supply chain – is more critical than ever.

Inventory management allows you to keep track of all of the items and inventory in your organization. Excess inventory requires the use of additional resources such as warehouse space and capital. The supply chain is more than just a way to keep track of your product in today’s world; it’s also a way to gain a competitive advantage by promoting your business.

The good news is that manufacturers may use IoT to avoid the issues associated with manual processes and achieve real-time inventory visibility. In this infographic, we’ll go through the most important things to know about inventory software development and leveraging IoT for inventory management.

Author Bio

Victoria Puzhevich Lead Business Development Specialist
Victoria has over 15 years of experience in IT, keeping track of the current and future trends in the sphere, sharing expert advice and relevant industry experience.

Need Mobile Developers?

At SCAND you can hire mobile app developers with exceptional experience in native, hybrid, and cross-platform app development.

Mobile Developers Mobile Developers

Looking for Java Developers?

SCAND has a team of 50+ Java software engineers to choose from.

Java Developers Java Developers

Looking for Skilled .NET Developers?

At SCAND, we have a pool of .NET software developers to choose from.

NET developers NET developers

Need to Hire Professional Web Developers Fast and Easy?

Need to Hire Professional Web Developers Fast and Easy?

Web Developers Web Developers

Need to Staff Your Team With React Developers?

Our team of 25+ React engineers is here at your disposal.

React Developers React Developers

Searching for Remote Front-end Developers?

SCAND is here for you to offer a pool of 70+ front end engineers to choose from.

Front-end Developers Front-end Developers

Other Posts in This Category

View All Posts

This site uses technical cookies and allows the sending of 'third-party' cookies. By continuing to browse, you accept the use of cookies. For more information, see our Privacy Policy.