How to deploy a real time inventory management system

Ripples IoT platform for realtime inventory monitoring in warehouses and real-time asset management

Real-time inventory monitoring in warehouses is a game-changer for warehouse management operations. By providing accurate, up-to-date information about stock levels, it empowers businesses to streamline processes, reduce costs, and enhance overall efficiency. Let’s delve into the top 10 benefits of implementing this technology:

Improved Inventory Accuracy using realtime inventory monitoring

• Eliminate Stockouts: Realtime inventory monitoring prevents stockouts by alerting you when inventory levels are low.
• Reduce Overstock: Minimize excess inventory and associated costs by optimizing stock levels.
• Enhance Customer Satisfaction: Fulfill orders promptly and accurately, leading to higher customer satisfaction.

Enhanced Order Fulfillment through inventory monitoring

• Faster Picking and Packing: Streamline order processing by prioritizing items based on realtime inventory monitoring, FiFo availability.
• Reduced Order Errors: Minimize mistakes by accurately identifying and picking the correct items.
• Accelerated Shipping Times: Expedite order fulfillment and shipping to meet customer deadlines.

Optimized Warehouse Operations

• Efficient Space Utilization: Optimize storage space by identifying underutilized areas and reorganizing inventory.
• Improved Labor Productivity: Empower workers with real-time information to make informed decisions and work more efficiently.
• Reduced Labor Costs: Minimize labor expenses by streamlining processes and reducing errors.

Enhanced Supply Chain Visibility

• Real-Time Tracking: Through inventory monitoring the movement of goods throughout the supply chain.
• Proactive Issue Resolution: Identify potential bottlenecks and disruptions early on.
• Improved Demand Forecasting: Make data-driven decisions to optimize inventory levels and meet future demand.

Cost Reduction

• Lower Inventory Carrying Costs: Minimize the cost of holding excess inventory.
• Reduced Labor Costs: Streamline operations and reduce the need for manual tasks.
• Lower Transportation Costs: Optimize shipping and logistics by accurately forecasting demand.

Improved Decision-Making

• Data-Driven Insights: Utilize real-time data to make informed decisions about inventory levels, purchasing, and staffing.
• Faster Response Times: React quickly to changes in demand and supply chain disruptions.
• Enhanced Strategic Planning: Develop long-term strategies based on accurate data and trends.

Enhanced Security and Loss Prevention

• Real-Time Tracking: Monitor the movement of goods to prevent theft and loss.
• Early Detection of Discrepancies: Identify discrepancies between physical inventory and system records.
• Improved Security Measures: Implement security protocols based on real-time data and alerts.

Improved Customer Service

• Accurate Order Status Updates: Provide customers with real-time information about their orders.
• Faster Resolution of Issues: Identify and resolve issues quickly, such as backorders or shipping delays.
• Enhanced Customer Experience: Deliver a seamless and efficient customer experience.

Regulatory Compliance

• Accurate Inventory Records: Maintain accurate records for audits and compliance with industry regulations.
• Simplified Audits: Streamline the audit process by providing real-time data and reports.
• Reduced Risk of Penalties: Minimize the risk of penalties for non-compliance.

Increased Competitive Advantage

• Faster Time-to-Market: Quickly introduce new products and respond to market trends and demand forecasting
• Improved Customer Satisfaction: Deliver exceptional customer service and build brand loyalty.
• Enhanced Operational Efficiency: Outperform competitors with streamlined processes and reduced costs.

By embracing realtime inventory monitoring in warehouses, businesses can unlock a multitude of benefits that drive growth, profitability, and customer satisfaction. Read about the benefits of RTLS solutions.

Realtime inventory monitoring

This specialty food distribution company wanted us to build a proof of concept eCommerce store integrated into the inventory tracking,  indoor tracking & monitoring system so that B2B customers would have direct access to information regarding the arrival time and storage condition of the high-value perishable goods using mesh enabled temperature probes. Near expiry, products were offered at discounted rates. RipplesIPS integrated real-time asset tracking to provide seamless inventory management transparency in the supply chain distribution network.

IoT platform for production inventory monitoring in warehouses

This multinational logistics company is building smart warehouses, catering to its global clients in the electronics manufacturing industry. Providing value-added services in tracking procurement & production supply chain through group tracking. The purpose was to enable indoor group tracking of half-full, empty bins, and trolley locations with 5-meter accuracy within the 30,000-square-foot shop floor. The IoT platform for asset tracking in production management helped in achieving the results by reducing machine downtime. Read about the RTLS inventory monitoring and tracking system project for warehouses, in collaboration with NUS.

Realtime Asset management

Our client is a leading manufacturer of electronic equipment meant for the semiconductor industry. They have 30,000 sq. ft operations in Singapore and wanted our assistance in building an IoT platform for a shop floor workflow monitoring system to understand the movement of production machines from assembly to dispatch. We designed a robust shop floor monitoring system based on wireless mesh technology. Enables tracking of people movement, time spent by each of the production items in different virtual zones, reports provided comparison every week, staff movement, and group dynamics using Indoor positioning data analytics tools. 

IoT platform for realtime inventory management

This farm distribution company wanted to monitor the temperature and humidity of the organic vegetables in trays, being transported from the farmer to distribution centers and retail stores in the city. The product pricing was determined based on a variance in temperature from the start of shipment. The smart logistics provider invoice was adjusted on a performance basis with the help of real-time asset tracking and yard management solutions.