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Showing posts with label Out of Stocks. Show all posts
Showing posts with label Out of Stocks. Show all posts

Tuesday, August 02, 2022

Shelf Stocking with Image Recognition

 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.”.... 

Thursday, August 26, 2021

Schnuck's Deploys Intelligent Retail Robotics

 An interesting case of chainwide application.  Surprised somewhat that Schnuck's is involved.   With the robotics being used for multiple purposes including direct consumer interaction. Good example to follow.  We examined many of application type mentioned here, starting with out-of-sticks.

Schnuck Markets Becomes World’s First Grocer to Deploy Intelligence Robots Chainwide

An expanded partnership with Simbe brings Tally, the comprehensive retail management solution, to all Schnucks stores

August 26, 2021 09:00 ET | Source: Simbe Robotics

ST. LOUIS, Aug. 26, 2021 (GLOBE NEWSWIRE) -- Today, Schnuck Markets, Inc. announced an industry-first chainwide expansion with Simbe Robotics’ to further elevate the grocer’s business operations and customer experience. Building on previous successful expansions, the multi-year full-scale roll-out will bring Tally robots to all 111 Schnucks locations across the U.S., making Schnucks the first grocer in the world to utilize AI-powered inventory management technology at scale. By incorporating Simbe’s solution into chainwide operations, Schnucks will gain even greater visibility into store conditions, with deeper levels of business insights as the retailer prepares to adjust to the quickly-evolving landscape of a post-pandemic world.

“We are facing a ‘new normal’ in the grocery industry, and Tally has been instrumental to ensuring we continue to provide an exceptional store experience while rising to meet new operational challenges,” said Dave Steck, Vice President of IT Infrastructure and Application Development. “By deploying Tally to all stores, we are fully operationalizing these insights into our supply chain and expanding our ability to leverage real-time data to make revenue impacting decisions. Tally has become an integral component of our stores, streamlining operations and ultimately creating a better store experience for our customers and teammates.”

Schnucks first piloted Tally in July of 2017 and expanded to additional stores in 2018 and 2020. Tally traverses store aisles up to three times per day and autonomously captures on-shelf data including inventory position, price accuracy, and promotional execution. Additional benefits of Tally include:

Detecting 14x more addressable out-of-stocks than manual scans

Enabled 20-30 percent reduction in out-of-stock items

Increased price tag and promotional execution compliance in stores across tens of thousands of products per day

Increased accuracy of real-time inventory integrated into Schnucks’ automated replenishment system, streamlining ordering and ensuring store shelves are restocked quicker to meet customer needs

Delivered access to real-time product location data through the Schnucks Rewards app, enabling more efficient shopping trips for customers, restocking and fulfillment activities for store teams, and 3rd party e-commerce partners

“Schnucks is the prime example of thoughtful adoption of retail technology, and we are honored to be their partner on this journey to create a better store experience through access to richer data,” said Brad Bogolea, founder and CEO of Simbe Robotics. “This expansion is a momentous occasion for Simbe, Schnucks, and the broader retail technology industry. It demonstrates that robots that are thoughtfully deployed are a critically important tool for retailers to improve bottom lines, support teams, and maintain an exceptional shopping experience, both in stores and online.” ... '