Traceability and Inventory Management System Using Real-Time Data Analytics

Abstract

In the rapidly evolving world, inventory control and product traceability play a vital role in ensuring the smooth functioning of the supply chain. In this paper, we propose a realtime data analytics-based Traceability and Inventory Management System. It uses IoT devices, RFID and barcode scanning, and cloud computing to put in place a continuous inventory management system which operates at various points along the supply chain.
It increases transparency, eliminates human error and supports decision-making via predictive analytics. It avoids overstocking and stock-outs through real-time notifications and alerts. Moreover, the traceability aspect allows full product traceability from source to customer, aiding compliance and quality assurance.