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What technology(tes) is (are) now employed to improve the problems associated with unsold inventories? 1. RFID 2. Internet of Things (101) and Artificial Intelligence 3. Blockchain 4. GPS Sat Nav GPS Sat Nav Internet of Things (101)and Artificial Intelligence RFID Blockchain

Question

What technology(tes) is (are) now employed to improve the problems associated with unsold
inventories?
1. RFID
2. Internet of Things (101) and Artificial Intelligence
3. Blockchain
4. GPS Sat Nav
GPS Sat Nav
Internet of Things (101)and Artificial Intelligence
RFID
Blockchain

What technology(tes) is (are) now employed to improve the problems associated with unsold inventories? 1. RFID 2. Internet of Things (101) and Artificial Intelligence 3. Blockchain 4. GPS Sat Nav GPS Sat Nav Internet of Things (101)and Artificial Intelligence RFID Blockchain

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OllieMaster · Tutor for 5 years

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Internet of Things (IoT) and Artificial Intelligence (AI) (Option 2) are employed to improve the problems associated with unsold inventories.

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## Step1: <br />Navigating the problem necessitates understanding of different technologies and their applications in inventory management.With the advent of technology, several revolutionary technologies have been introduced to combat the problems associated with middle wares logistics like unsold inventory. <br /><br />## Step2:<br />RFID has integrated well with inventory management systems. It helps manage the inventory with minimal manual labor and provides secure access from anywhere at anytime. However, coming to the unsold part of the inventory, the RFID has special scenarios but it does not contribute to specific unsold inventory.<br /><br />## Step3:<br />Internet of Things (IoT) and Artificial Intelligence (AI) have dramatically changed the landscape of inventory management with automating the process of identification,making forecasts about product demand and mostly providing an insight into the existing inventory with real time data. <br /><br />## Step4:<br />Blockchain and GPS Sat Nav can take a backseat when it comes to the usability of such technologies in inventory management and specifically for unsold inventory.<br /><br />### Understanding the Usability:<br />**RFID(Radio-Frequency Identification)** - Helps manage the overall inventory with provision to scan them onboard but does not influence unsold inventory.<br />**IoT(Internet of Things) and AI (Artificial Intelligence)** - Both work jointly to provide real time data and can predict the stock value, making the inventory process seamless.<br />**Blockchain** is the technology behind the secure transactions through cryptocurrencies predominantly, this could be used in supply chain but does not solve the unsold inventory issue fundamentally.<br />**GPS Sat NAV** - It tracks the geolocation of physical entities but provide no real infrastructure to handle unsold stock.<br /><br />Based on this analysis, the suitable technology will be Internet of Things (loT) and Artificial Intelligence to overcome the problems associated with unsold inventories.
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