IoT asset tracking solutions allow businesses to monitor their stock in real-time, giving them the ability to pinpoint the location of specific assets in transit, and allowing employees to check stock availability instantaneously. IoT asset management and protection not only increases the efficiency of supply chains in retail, it reduces the risk of shrinkage and damage of goods too. Thieves are deterred and the likelihood of recovering stock is increased.
Automating the supply chain doesn’t stop at asset tracking. Connected cabinets and vending machines can be equipped with sensors and connectivity to monitor stock levels and analyse storage conditions. By alerting staff when your shelves need to be restocked or if your goods aren’t being stored at their optimum temperature, you can ensure that your shelves remain full and fewer goods go to waste. This data can also be used to monitor customer behaviour and buying habits. Connected cabinets are particularly beneficial in shops selling food or pharmaceuticals.