Navigating the Latest Retail Challenges
“Deliver what the consumers want, when they want it.” It’s the oldest retail axiom out there, but retailers cannot overstate the importance of getting it right. More than two-thirds of customers have left a store because the product they sought was not available. As a result, revenues are missed, stock is possibly squandered, and the bottom line suffers. Sales and margin growth are becoming increasingly difficult to come by as many disrupting factors affect global retail operations for brands and suppliers, but businesses have a clear opportunity to generate value to customers and shareholders.
Innovating Stock Replenishment Operations
Wipro’s Automated Shelf Replenishment (ASR) is a game changer for the retail industry. ASR’s continuous shelf-scanning functionality works in conjunction with AI/ML-based algorithms and planogram data to accurately identify the replenishment amount needed on a specific shelf. With Wipro’s ASR solution, retailers can modernize their shelf to avoid replenishment issues and more effectively deliver profitable customer experiences. As a cloud solution, ASR is built on the IoT-compatible platform, TIBCO Project AIR, which provides computer vision capabilities for analyzing shelf images or camera streams in near real time. Retailers can also configure ASR’s intelligent replenishment rules to automate and optimize routine replenishment and inventory allocation tasks, resulting in improved employee productivity and greater sales opportunities.
- Image or video stream analytics capabilities enabling near-real-time identification of shelf status.
- Ease of integration with any store inventory management solutions and associates’ mobile or hand-held devices, delivered with an accelerated implementation timeline.
- Automated functionality for maintaining stock availability and remaining competitive.
- Cloud infrastructure-level separation to ensure data integrity and security.