Internet of Things is the connection of objects using the internet that are equipped with sensors, actuators and communication technology. IoT, also called the Internet of Everything or the Industrial Internet, is a new technology paradigm envisioned as a global network of machines and devices capable of interacting with each other. Nowadays, this technology is recognized as one of the most important areas of future technology and is gaining vast attention from a wide range of industries. This paper presents a conceptual study of using IoT technology in one of the leading chains of Saudi Arabia retail pharmacy (Al-Nahdi). Agent-Based Simulation (ABS) was used to simulate the refrigerators behaviors of Al-Nahdi. Three different scenarios were applied and simulation outputs were analyzed to recognize the importance of adopting IoT technology.