Challenge:
A retail chain faces inefficiencies in inventory management, leading to overstocking of certain items and stockouts of high-demand products. This results in lost revenue and increased operational costs.
Solution:
Implementation of an Internet of Things (IoT)-enabled inventory management system. RFID tags are attached to products and smart shelves monitors stock levels in real time. This is integrated with a centralised dashboard to provide actionable insights.
Outcome:
- Inventory accuracy improves.
- Reduced stockouts and overstocking.
- Saves money through optimised inventory management and decreased waste.
- Frees up employees to focus on customer service instead of manual inventory checks.
