Enhancing Inventory and Payment Management: A Review of Current Technologies and Future Direction

Abstract

In the contemporary dynamic market, businesses must implement a reliable system to monitor inventory levels, process payments, and ensure seamless operations. Many organizations, particularly small and medium-sized enterprises, encounter challenges in managing their inventory and payment processes due to inadequate systems or reliance on outdated methods. These organizations often depend on manual record-keeping, which is time-consuming, error-prone, and inefficient. In this context, automated inventory and payment management systems have been adopted to address these issues. This paper aims to review the current state of inventory and payment management technologies, highlighting existing trends, research advancements, and strengths, while also identifying current limitations and areas lacking in research to foster future improvements.