Exemplary embodiments of the present disclosure are directed towards a smart system and method for generating medication alerts and communicating to a medication dispensing device in real-time. The smart system comprises a plurality of computing devices in wireless communication with at least one medication dispensing device, the plurality of computing devices comprises of a medication management module configured to generate schedules and timetables based on a plurality of inputs provided by a plurality of users with reference to the medication intended to be housed in the at least one medication dispensing device based on the consumption requirement, the medication management module configured to send the generated schedules and timetables to the at least one medication dispensing device. The smart system further comprises cloud servers configured to establish communication with the plurality of computing devices and the at least one medication dispensing device via a network, the cloud servers are configured to store the conversations between the plurality of computing devices and the at least one medication dispensing device.
