Cost Optimization for Inventory Management in Blockchain and Cloud
C Govindasamy, A. Antonidoss, A. Pandiaraj · 2022
Excess stocks, poor service reliability, poor performance metrics, lack of stock, inadequate knowledge of trends in market and difficulty interpreting. In other words, all the problems of stock management and all the obstacles which limit the organization's competitiveness. It should be correctly, efficiently and accurately managed, because inventory is probably one of the most critical parts of any enterprise. So, blockchain is a distributed ledger that can be used in inventory management that stores digital documents or event records in a way that makes them tamper-resistant. While blockchain was not initially developed to improve and optimize inventory control for warehouses, the system is adept at each of these tasks. With such transparency, producers are better able to handle product sources, traceability, future recalls and peri-records. Warehouse inventory management can forecast demand effectively with blockchain and thus always have the appropriate quality and amount of inventory needed to meet expected demand. Blockchain Inventory management provides a live, commercial version of an energy exchange solution that will expose substantial cost savings for many areas. This chapter explores some of the most prominent bases of blockchain for inventory management for blockchain and cost optimization methods for inventory management in cloud.