Consigned Inventory Management System using IoT and Big Data
Upgradation Of Inventory Management System
VIT built a suite of enterprise and mobile applications using IoT and Big Data technologies to meet the requirements of the customer. Inventory management is implemented in various stages of the production line. It is a necessary tool for the ever-growing industries, whose demands for products are growing.
Boost Profits and Limit Costs
The main objective of this inventory management system is to make multiple organizations to work together.

    Following are the high-level features that are needed to be implemented in the new application:-
  • Consigned inventory reduces the retailer’s risk because the consignor retains ownership of the merchandise until they’re sold.
  • It is implemented in various stages of the production line.
  • The presented design iscost-effective and can be implemented to address simpler or complex issues.
  • The power of IOT to simplify and make it efficient by liminating any unnecessary human interference and automating the entire networkresponsible for inventory management.
  • It is used to determine the inventory management using IoT and Bid Data.

Connecting IOT with Big Data
IoT devices can help reduce manual labor, errors, and help to increase processing speeds and overall warehouse efficiency. Big data hinders companies in making accurate and timely decisions without the use of data management solutions. IoT devices use different technologies to aid in touchless data collection. IoT devices use GPS and other technologies, including Radio Frequency ID. Big data enables supply chains to proactively enhance performance compared to traditional models. IoT devices are helping to improve inventory management by helping businesses easily keep track of an item’s precise location.