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Inventory waste is inventory that is left untouched waiting to be used. This wastes space as well as the capital used to purchase the inventory without immediate financial returns.

Challenges for food and beverage manufacturers can be resolved swiftly and efficiently with the use of IIoT, which can allow factories to track products quickly and accurately, and capture mislabeled or faulty items far faster than a manual system.

As advances in technology make it more cost-effective to deploy IIoT, industries will need to acquire a strategic approach to integrating new sensor data with pre-existing data environments.