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How real-time data and automation is transforming inventory management

The ability to accurately track, monitor and control inventory levels is crucial for optimising production, reducing costs and meeting customer demands. The recent rise of advanced technologies, harnessing the power of real-time data and automation, has offered manufacturers unprecedented opportunities to streamline their inventory management processes.

Streamlining inventory operations

Stock-taking is unanimously perceived as a manual, time-consuming and resource intensive process. Having full visibility over stock and storage operations is vital for any manufacturer, ensuring the production line is not impacted. 

Dexory’s solution, DexoryView, continuously monitors inventory and optimises warehouse efficiency, combining autonomous stock-scanning robots with powerful warehouse analytics. Gathering real-time inventory insights, visualising and analysing the data using an intuitive ‘digital twin’ platform and analytics, you always have accurate, real-time visibility of your inventory and warehouse operations. 

What does the real-time data unlock in the warehouse? 

Real-time data from the warehouse can provide valuable business intelligence that can support organisations optimise their warehouse operations and improve overall supply chain performance. Businesses can respond quickly and efficiently to operational challenges across all levels of operations on a daily basisdaily, as well as reducing costs (by boosting demand forecasting, maintaining healthy inventory level, eliminating manual errors) while improving efficiency to keep the business growing and customers happy. 

DexoryView, provides an online visual representation of warehouse operations and understanding of inventory and resource, with detailed location occupancy information, enabling rapid identification of inaccuracies and instant warehouse management system cross-check and validation.

One example would be how Dexory collaborates with DENSO Manufacturing UK, a global mobility supplier, who need full visibility over their stock and storage operations. The autonomous robot navigates aisles and scans to check each and every rack location to identify empty locations and locate pallets of components in real-time, quicker and more accurately than when completed manually.

The end goal is to build a warehouse digital twin that offers real-time intelligence to inform and ensure zero-error procurement, with no disruptions to the production line and the wider supply chain across all Denso sites.

Looking to the future of manufacturing logistics 

Businesses should balance the benefits of enhanced efficiency, improved visibility and control, enhanced customer experience, cost savings alongside the challenges that businesses might face (e.g. initial investment, organisation change management, data security and privacy, integration and compatibility). By adopting digital technologies, transparency and accountability are brought into the supply chain - hence data analytics is going to make everyone’s life easier.

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This company has received funding from the European Union's Horizon 2020 research and innovation programme under grant agreement number 849938