Out of stock management is an important retail issue, here an example.
This Startup Is Using AI to Help Keep Store Shelves Stocked Wisy’s platform makes it easier for consumers to buy their favorite products
JOANNA GOODRICHS in IEEE Spectrum
hoppers around the world have experienced going to the store to buy their favorite shampoo or candy bar only to find the shelf empty. Because of inflation and high rates of employee turnover, retailers are struggling to keep their shelves stocked. Supply-chain issues caused in part by the COVID-19 pandemic have added more challenges in keeping shelves stocked and increased the product-unavailability rate from 5 percent to 15 percent during the past three years, according to the Consumer Brands Association.
StartupWisy developed an AI platform to make it easier for stores to track whether there are available products that haven’t yet been put on display. It uses image recognition to detect which items need to be restocked.
“We are not only solving a customer-experience problem but also a sustainability problem,” says IEEE Senior Member Min Chen, Wisy cofounder and CEO. “All those products that are not sold because they were not displayed get thrown away. WisyAI enables store employees to quickly get information about the stock, reduce losses, and sell [products] more effectively.”....
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