Cost-Effective Inventory Management Using Augmented Reality

Abstract

The ever-growing complexity of supply chains and the dynamic nature of modern business environments demand innovative solutions for efficient and cost-effective inventory management. This paper introduces a novel approach to address these challenges through the integration of Augmented Reality (AR) technology. Our proposed system leverages AR to enhance the accuracy, speed, and adaptability of inventory management processes while maintaining a focus on cost-effectiveness. By overlaying digital information onto the physical world, AR transforms the way inventory is monitored, tracked, and updated. The system utilizes wearable AR devices, such as smart glasses, to provide real-time insights into inventory levels, product locations, and order fulfillment status. This not only reduces manual errors but also significantly improves the overall efficiency of inventory-related tasks.  To validate the effectiveness of our approach, we conducted a series of simulations and case studies across diverse industries. The results demonstrate notable improvements in inventory accuracy, order fulfillment speed, and overall operational efficiency. The proposed AR-based inventory management system emerges as a viable and cost-effective solution, poised to revolutionize traditional inventory management practices in the contemporary business landscape.