With the fast pace of modern lifestyle, there is an increase in demand for perishable food (fruits and vegetables) in marts and retail groceries. The increasing demand leads to higher profit; meanwhile, large quantities and a wider variety of food items impose further challenges on the management of the food supply chains. All of these factors can lead to a significant amount of shortage of food items and a substantial retail loss. The recent development of tracing and tracking technologies, which facilitate effective monitoring of the inventory level and product quality continuously, can greatly improve the performance of the food supply chain and reduce spoilage waste. This work aims to develop a highly cost-effective system for food supply chain management system and connect our farmers with this technology through the internet. It will monitor the foods (crops) stored in the supply chain inventories using IoT and AI and provide status about their quality (state of deterioration) and estimate stock value/price based on it. We prove the existence of optimality for the design of the perishable food supply chain. We gave the single-item supply chain problem searching algorithm to produce the optimal allocation of shelf space among these items for practical implementation. Finally, we provide numerical examples to demonstrate the effectiveness of our solution.