Optimizing Retail Supply Chains: Jit and Iot Integration

Abstract

Applying IoT and JIT technology together may be the new revolution that not only tackles but solves fundamental problems. This study is aimed at determining how Just in Time (JIT) and the Internet of Things can be jointly applied to transform the inventory management processes of online grocery retailers. Such closeness will ensure the increase of stock levels and enhance supply chains and finally will deliver the unheard-of levels of customers’ satisfaction due to the fact of utilizing real-time data analysis, advanced inventory control system, and proactive monitoring. The principal statement of this report is that online grocery retailers must more quickly adapt to market changes and boost their effectiveness at the same time. The Just-in-Time inventory management principles can be followed by retailers which they can do by using IoT technology to monitor fresh produce and further changing their prices in accordance with their product freshness. This report aims to give a detailed account of the way in which IoT-powered inventory management systems are integrated into online grocery stores, with a spotlight on perishable goods. Such an introductory part serves as a foundation for a full-fledged investigation of the use of JIT and IoT that is meant to improve retail supply chains, since, it presents the problem landscape, states the subject of research, and declares the objectives of the study.