Efficient Management of Perishable Inventory by Utilizing IoT

Inventory Management is always a challenging and opportunistic area for practitioners and researchers in diverse domains, as the core of any business success is in its inventory management. Therefore, reaching an efficient management system that is capable of optimizing costs is crucial, especially in perishable inventory management. Due to the different nature of perishable inventory, it needs regular control and monitoring. Perishable Inventory deteriorates over time and its quality is affected by the storage and transportation conditions. The advent of revolutionary technologies including Cyber Physical Systems (CPS), Cloud Computing and Internet of Things (IoT) have opened innovative opportunities with pertaining challenges. This article contributes by an analytical study that reviews recent research and development efforts in the utilization of IoT for the management of perishable inventory. This analysis reveals the opportunities that are not yet fully realized, and the challenges that need to be efficiently solved to enable their realization.