Contactless Stock Keeping

Greetings I’m Suriya Kumar, Pursuing MBA at Amrita School of Business. This blog is about my views on how a contactless inventory stock keeping functions.

Inventory management systems have faced critical situation in order to manage the demand and keep the necessary stock inorder to not to go out of business. The digitalization of supply chain processes has brought it to reality and the pandemic has made it happen. Stocks are managed digitally and its essential that existing tangibles should be used without much of change to compensate the loss faced by the pandemic.

• Integration in the cloud: Inventory systems are often add-on systems that are build on warehouse management or ERP systems. All the data are obtained through interfaces that function as key components as sensors and detectors connected to the integrated system. On-site installation is not required due to cloud-based special systems, and these can be accessed from any place at any time.
• Project management: When working with inventory forecast systems completely digitally  for the first time, the user should be trained completely or the process should be outsourced. Hence this involves dealing with complete data of the warehouse and its stocks which are a firms critical data and handled carefully.
• Inventory sampling: Just as how we determine which mathematical type of calculations will give the most accurate forecast, digitally all possible mathematical procedures are worked out. The most suitable forecast is taken for implementation. As these are mainly used in automated warehouses, it can be used to count a wide variety of warehouses with hundreds of thousands of storage positions.
• Contactless evaluation: The result calculated by the software can be completely processed virtually and brought into reality.