How Can IoT Sensors Help Prevent Theft and Losses in a Stock?

With the growing business environments and an increasing number of items in stock, the presence of an inventory management system that can process large amounts of data becomes a necessity. Tracking inventory with the Internet of Things (IoT) devices can simplify the process and give actionable insights in case of inventory loss. An IoT-based tracking system usually consists of an IoT technology platform, RFID tags, IoT tracker, and sensors. Most of the IoT asset tracking sensors can observe the condition of cold beverages, food supply chain, medical supply chain, keeping track of the exact location of the equipment or other items transferred.

These inventory management sensors can also monitor environmental conditions, including shock, light, humidity, and temperature. Furthermore, IoT-enabled devices can also detect the presence of human interaction, which can be helpful in the prevention of potential theft. Having an IoT tracking system in use is crucial for the future growth of any enterprise as it provides real-time visibility, gives valuable insights on storage conditions, and even helps customers to be sure that their items will reach retail stores on time and that it will not be any disruption in a supply chain.

IoT GPS tracking devices in a warehouse help businesses to have efficient storage and distribution. IoT shipment tracking devices can also identify delays in the supply chain and help with emergency planning, providing complete visibility of logistics operations. By deploying IoT sensors in inventory management, a business can improve accuracy of real-time tracking and improve its loss prevention system. This will help businesses manage their inventory more accurately and transparently, eliminating the possibility of internal theft in the company and increasing the safety of items for the future.

Automation of Inventory Management

IoT devices can automate inventory management processes, which can not only streamline processes in distribution centers but also increase control over the assets. Using IoT devices in stock management can optimize supply chain management and reduce theft. As a rule, the automation of inventory management can be achieved by using radio frequency tags, smart shelves, asset tracking system, IoT GPS tracker, and data analytics services. Most IoT package tracking devices are easy to deploy and use. They can be attached to stocking units and track their location and condition, providing real-time data to retailers by sending notifications or other reminders right to the mobile phone. With real-time data, employees on stock can predict demand and ensure that consumers always have what they need at the right time.

IoT sensors are extremely useful for organizations with vehicle and equipment fleets, which are involved in global supply chains. IoT pallet tracking devices can be installed on vehicles or equipment to help send alerts when a possibility of theft is detected or when real stock levels don’t match with reported ones. Through enhanced GPS tracking, businesses can capture load discrepancies and immediately notify consumers and logistics partners about any special events. By monitoring the location of goods during transport, even a single IoT security device easily prevents theft and loss. Internet of Things devices can also alert authorities if there is a suspicion of a thief in a warehouse, in-store, or in stock.

Increased Visibility of Inventory Levels

IoT tracking applications give companies a clear view of their inventory. With IoT sensors, companies can track their inventory at any given time, and even during the movement of equipment from a warehouse to retailers or customers. With IoT technology, employees reliable for supply chains as well as business partners can also receive alerts when vehicles are in transit. They can also be used to track fuel efficiency and driver behavior, suggesting better routes to reduce costs and increase customer loyalty by delivering items earlier than planned. With such increased visibility of assets, business owners can store their products with higher security, prevent loss of quality and make stocking processes more efficient with the minimum need of manual labor.

With the help of IoT technology, a company can maintain the quality of its products stored in the warehouse. By monitoring the temperature, weight distribution, and storage conditions of products, retailers can prevent the spoiling of products. For example, by implementing smart barcode scanners, employees can keep track of the physical inventory and eliminate wastage or theft. Moreover, these sensors can provide a customer with information on the condition of the products, which can contribute to an increase in customer satisfaction.

Real-Time Alerts

IoT technology can also prevent theft by sending on-time alerts when systems identify some deviation from the norm or lack of products. With IoT sensor systems, businesses can track the locations of assets. Adding IoT tags to packaging and products can help prevent the possibility of theft or shrinkage. With real-time tracking data, warehouse management software can take action and avoid a loss. Increasing transparency in supply chains is in general a major concern for business owners, and consumers want to know their orders are safe and delivered as promised, so IoT devices that can send alerts on any changes within a supply chain are life-saving.

Using IoT devices to watch inventory will reduce theft and loss, improving customer experience significantly. Asset tracking IoT use cases are pretty extensive and include tracking usage patterns, updating retailers on route changes, and checking the condition of vast amounts of products. These devices can help businesses monitor equipment and inventory to avoid costly downtime. For example, IoT sensors for office supplies can send emails or texts to staff when supplies are running low and when they are out of stock. These devices can even detect when inventory items have expired and can be removed from production until they are repaired. This type of proactive maintenance will help manufacturers reduce operating costs and improve uptime, resulting in better production, improved service, and improved asset performance management.

What Can TEKTELIC Offer for Stock Management?

Integrated technologies are the backbone of any business. TEKTELIC has developed innovative solutions to help businesses manage inventory. The company’s R&D team, in turn, consists of experts in multiple technical disciplines, including radio and system design, digital signal processing, and telecommunications. So, our solutions have the flexibility to adapt to different business models and incorporate the latest technological innovations. The TEKTELIC team is committed to ensuring that every product meets the highest standards and is optimized for ease of use. Our experts are passionate about delivering high-quality products and services to our customers, and they’ll work with you to determine how best to integrate a system into your business.

TEKTELIC has developed the TUNDRA, a wireless device that allows for simultaneous monitoring of temperature, pressure, and other variables. The TUNDRA sensor has a long battery life and is ideal for factories with high-temperature and pressure environments. The device also works well with a variety of other devices, including smartphones and tablets. The TEKTELIC TUNDRA Sensor is a highly effective temperature monitoring device that works with any refrigerator. This device can help prevent regulatory violations and ensure product integrity.

Another device that TEKTELIC has for effective asset management is SPARROW. TEKTELIC’s SPARROW allows companies to manage their assets most efficiently. By using LoRaWAN technology, this device can automatically track all types of assets present and store the data on a server. Its low energy consumption, continuous connectivity, and battery life make it a valuable technology for reducing costs and ensuring safety in the store. SPARROW is also compatible with all IoT devices and network systems. Besides, it is easy to install and uses minimum space.

Various types of devices can be used to monitor the situation in the store, stock, or any other base with items. RFID tag readers can help monitor finished goods inventory, while GPS devices such as TEKTELIC ORCA can send immediate alerts when the item is replaced from a place set by default. In the future, most of the sensors will be connected to the cloud, so enterprises will have better data management and lower costs of monitoring. As for now, those companies, which have already implemented IoT technology will have a huge competitive advantage over those, which are still only planning to do so.

Now, that you know all the advantages of IoT devices and their role in preventing losses of products, you should seriously consider the implementation of this technology into your inventory management. In case you are still looking for a reliable partner and supplier, don’t hesitate to contact the TEKTELIC support team via email at info@tektelic.com