Real-time inventory management is the ability to automate the process of collecting transactional data on sales, shipments and movement of goods in order 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 challenge with inventory management in a traditional sense is that it often leads to data overload. This can result in companies needing to be able to make decisions based on this data and instead relying on gut feel or intuition when making decisions.
With real-time inventory monitoring and management, companies can identify any issues that arise before they have an impact on their business. This helps them make more informed decisions based on data rather than gut feel or intuition.
A common challenge is that retailers get overwhelmed with the data they receive from their systems. There is so much data coming in, it becomes difficult to process it all and make sense of what’s happening in real time.
The challenge of real-time inventory monitoring and management is to keep track of the inventory in a company. It is a difficult task because there is no single data source that can be used for this purpose.
It is an important task because it helps organizations to understand the availability of their products and make decisions accordingly.
How do we solve the real-time inventory management problem?
Infinyon provides a set of tools to enable building data streaming pipelines for Real-time Inventory Monitoring and Management:
- Fluvio OS for real-time data
- 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 on Fluvio stream without the need to move data in and out of the streaming platform.
- Smart module Hub to be able to reuse smartmodules with data transformations throughout the whole organization in a controlled and governed way.
Reference Architecture Diagram
And follow our tutorial for how to build MQTT to SQL Data Pipelines