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Inventory

Inventory management plays one of the big roles if you are building manufacturing companies, retail industries, online shopping platforms or even restaurants. Since we used the raw materials as an inventory to produce them as goods, managing inventory should be sustainable, effective, and efficient. Some companies faced an issue with inventory management because of their lack of understanding needs, relying on paper-based data, messy storage environments, poor preventive functions, and poor production control. These issues can solve by the advantages of technology. Today, our society relies on the advancement of technology to make our lives convenient and create our workspace better and safer. After the fourth industrial revolution, manufacturing companies and industries started to rely on the internet of things (IoT), QR or advanced barcode scanning, RFID technology, and cloud computing to store their big data and improved their inventory management in various effective ways.

Among theses technologies, QR or advanced bar code scanning has some great advantages when managing your inventory. A QR code saves more space than a bar code even though they held same information of the product. Moreover, QR code can scan from any directions, so it has less time consuming and effective for fast paced work environments. Companies which used QR codes to manage their inventory can track their exact data of their supplies and help to avoid problems in production due to the missing individual parts or damaged pieces.

Using RFID technology is also one of the effective ways to manage inventory, since it can track their product’s quality, quantity, location, and real-time data management. This technology is benefit for companies as it keeps an update on their supply level, order history and sales history. Also, it allows you to organize your company’s supply chain and reduce inventory stock levels. Besides, these good circumstances can lead to build strong relationship with customers.

Overall, these great innovative technologies allow our human beings to build the interrelation with non-living things. Plus, it also has huge impacts on our everyday lives, and technology can also be the main tool to develop your business. For example, you own the clothing factory and in order to improve your sales rate and increase your profit, installation digital technologies can allow you to keep track with your supplies, improve the inventory management and also help companies to success their marketing plan. Plus, the involvement of remote monitoring system in RFID technology can help you to reduce the risk of employee theft. So, these benefits can keep our inventory with better and productive work environment.