Building a Smarter Inventory Management System

Inventory management is the process of overseeing and controlling the flow of goods, from the time of procurement to the point of sale. Its importance lies in its ability to ensure that businesses have the right products in the right quantities at the right time, while also minimizing costs associated with excess or obsolete stock. Effective inventory management can help businesses to improve their bottom line, increase customer satisfaction, and make better decisions about future inventory requirements and financial planning. It is essential for the smooth operation and success of any business. 


The Problem with Traditional Inventory Management: 

Traditional forms of inventory management such as manual data entry, can be time-consuming and at high risk of human error. Incorrect inventory reporting can have serious consequences, such as running out of stock or overstocking. Traditional inventory management can additionally be a slow process as it often involves physically counting items or manually entering data into a system, causing longer lead times. 

With manual inventory management systems, it can be difficult to get a real-time view of inventory levels. To accurately generate forecast demand and plan for future needs, data on inventory needs to be reliable. It can also be labor-intensive, requiring staff to constantly count and record inventory.


Benefits of Incorporating IoT for Inventory Management 

The Internet of Things (IoT) is revolutionizing the way businesses function on a daily basis. With IoT-enabled devices, such as sensors and GPS devices, it’s now possible to create a smart inventory management system to track and monitor assets in real-time, ensuring that stock is always available when needed. This not only improves efficiency but can also reduce costs by minimizing overstocking and stockouts. 

Real-time Visibility 

One of the key advantages of IoT inventory management is real-time visibility. With traditional inventory management methods, it can take days or even weeks to get a complete picture of stock levels. This can make it difficult to identify problems and make informed decisions. By creating a smart warehouse using IoT-enabled devices, businesses can access clear and up-to-date data of their inventory in real time.  


Another benefit of smart warehouses is the ability to automate processes such as restocking. Sensors or tags can be programmed to notify the IoT inventory management system and automatically reorder stock when inventory levels reach a certain threshold. This eliminates the need for manual monitoring and restocking, which can be time-consuming and prone to errors. 

Data Insights 

Smart inventory management systems can also provide valuable insights through the data they collect. For example, businesses can use data on sales trends, purchase history, and stock movements to identify patterns and make informed decisions about future inventory requirements. This can help businesses to optimize their stock levels and improve their bottom line. 

Additionally, IoT inventory management can also improve the overall customer experience. By providing real-time information, businesses can ensure that products are available when customers want to purchase them. 

Digital Matter Solutions  

Smart inventory management is a powerful tool that can help businesses to improve efficiency, reduce costs, and enhance customer service. In addition, implementing an IoT inventory management system requires careful planning and execution, including choosing the right hardware and software. Digital Matter’s IoT inventory management solutions utilize wired and battery-powered GPS devices that, when combined with Bluetooth Low Energy tags and sensors, can deliver real-time stock information depending on device type and configuration.  

Our inventory management devices are ultra-rugged in design with IP68-rated housing. Their discrete and compact design means they can easily be installed in any location to create a smart warehouse for inventory management. Powered with off-the-shelf user-replaceable Lithium, Lithium Thionyl Chloride (LTC), or Alkaline batteries, our devices are engineered with a ‘deploy-once’ long battery life that can last up to 10+ years.  


Start Managing Your Inventory Today 

Digital Matter smart inventory management solutions offer the technology, tools, and support you need to grow and protect your business. Get in touch with us today to discuss your inventory management needs! 

GPS Tracking Devices for Smart Inventory Management

Related Case Studies

AroFlo: Enhancing Job Management Software Solutions with Battery-Powered Asset Tracking

Learn how AroFlo is expanding their job management solutions with battery-powered asset tracking devices for tools, equipment, and more.

View Case Study
Related Case Studies

Asset Tracking & Sensor Monitoring with Restotracker

Learn how Restotracker uses the Remora2 and Bluetooth® Low Energy to remotely track and monitor high value assets and critical sensor data.

View Case Study
Related Case Studies

Battery Recycling Bin Management with the Yabby Edge

As Bunnings' official battery recycling partner, learn how Envirostream is utilizing the Yabby Edge Indoor/Outdoor asset tracker to track, optimize, and report on dangerous good collection bins across Australia and New Zealand.

View Case Study
Related Case Studies

Battery-Powered IoT Asset Tracking Devices for Spoil Removal Tracking on Construction Sites

Learn how John Holland Group, one of Australia’s leading engineering contractors, is utilizing battery-powered IoT asset tracking devices to track spoil removal from construction sites.

View Case Study
Related Case Studies

Bringing IoT to Previously Untrackable Markets with Foresolutions

As new business cases emerge for the IoT as device and connectivity costs continue to decrease, businesses are able to broaden the range of assets they track.

View Case Study
Related Case Studies

Building Smarter Indoor and Outdoor RTLS Solutions with the Oyster Edge

Learn how GeoTracker is simplifying and supplementing real-time location systems with the Oyster Edge Indoor/Outdoor battery-powered asset tracking device, Bluetooth® Low Energy, and custom mapping solutions.

View Case Study
Related Case Studies

Hire and Rental Equipment Monitoring with Kennards Hire

Kennards Hire developed their own IoT platform, leveraging Digital Matter GPS tracking devices to collect data from their hire and rental equipment.

View Case Study
Related Case Studies

IoT Predictive Maintenance Monitoring with Sensyrtech and the Oyster Edge

Learn how Sensyrtech is utilizing the Oyster Edge to provide turnkey equipment visibility, utilization, and IoT predictive maintenance monitoring for industrial businesses.

View Case Study
Related Case Studies

Skip Bin Tracking with the Yabby Edge

Operating over 600 waste and communal skip bins and containers across worksites throughout Finland, learn how Delete Group is tracking and optimizing their business-critical waste management assets with the Yabby Edge.

View Case Study

Let’s Get Started

Submit the form below to get in touch with a Digital Matter representative from your region.


Looking for support? Check out our knowledge base.

Information on becoming a Digital Matter Partner.

Information on pricing, availability, and proof of concept.

Guidance on selecting the right products for your application.