A robotic arm for transporting products in a product storage and dispensing system is disclosed. The robotic arm broadly includes a base operable to couple the arm to the dispensing system; a sprocket coupled with the base; an extendible arm segment coupled with the base; and a chain coupled with the sprocket and the extendible arm segment such that rotation of the sprocket causes movement of the chain and extension of the extendible arm segment. The robotic arm provides a compact and effective retrieval tool that is compatible with closely spaced and densely packed product shelves.