Real-time inventory management is a system for tracking and managing inventory in real-time, as opposed to on a periodic basis. This means that inventory levels and other information about the inventory are continuously updated and available for viewing in real-time. This can be particularly useful for businesses that have a large number of moving parts, such as retailers and manufacturers, as it allows them to more accurately track and manage their inventory levels, ensuring that they have the right amount of stock on hand at all times. It can also be helpful for businesses that need to quickly respond to changes in demand, as it allows them to make more informed decisions about their inventory levels. With real-time inventory monitoring and management, companies can identify any issues that arise before they have an impact on their business.
Collecting real-time transactional data on sales, shipments and movement of goods is important for companies who want to optimize and proactively restock inventory. Inventory Management is one of the most critical parts of the supply chain. It is a crucial part of the process for all retailers, brands and manufacturers.
The top inventory management challenges are access to real-time inventory data, data accuracy and inability to make instant decisions based on the data. Retailers get overwhelmed with the data they receive from their systems due to the volume of data coming in, making it difficult to process it all and make sense of what’s happening.
How do we solve the real-time inventory management problem?
InfinyOn offers a comprehensive set of tools that enable building data streaming pipelines for Real-time Inventory Monitoring and Management:
- InfinyOn Cloud for real-time data pipelines
- MQTT connector to collect data from various sensors
- SQL connector to load transformed data into a SQL-compatible server
- SmartModules to clean, transform, filter and aggregate data without the need for ETL pipelines.
- SmartModule Hub to be able to reuse SmartModules with data transformations throughout the whole organization in a controlled and governed way.
Reference Architecture Diagram
Learn how to build MQTT to SQL Data Pipelines by following our step-by-step tutorial. Real-time inventory management is essential to keeping your business running smoothly. With InfinyOn Cloud, you can easily track, monitor and manage your inventory in real-time. By registering for a demo, you’ll get a firsthand look at how our powerful platform can help you make better-informed decisions, increase operational efficiency, and reduce costs. Don’t miss this opportunity to see how InfinyOn Cloud can revolutionize the way you manage your inventory. Schedule a demo today.