Home / Knowledge / News / Information Technology / Detego unveils AI software to manage stock shortages
Detego unveils AI software to manage stock shortages
13
Aug '17
Detego, a European retail software provider that develops a suite of software products for fashion retailers, has successfully eliminated over three million stock shortages during various pilots and ongoing retailer projects after using merchandise management software powered by artificial intelligence to help combat perilous out-of-stock situations.

Thanks to tiny radio-frequency identity (RFID) tags attached to every item and the real-time monitoring of articles from warehouse to store using connected devices, Detego is trying to make sure that missing sizes and gaps on the shelves are no longer such an issue and headache for retailers. Projects have shown high article availability and near hundred per cent inventory accuracy when using IoT technology and the AI-powered Detego suite, compared to an industry average of around seventy per cent in most fashion retailers’ businesses.

The AI software is also being used to analyse vast amounts of data and uses machine-learning to better understand the behaviour of several million consumers, deriving insights, and actionable recommendations for retailers.

Analysis shows that the vast majority of shoppers today still favour visiting a store. The trend is particularly strong in fashion, although a growing proportion are switching to other omni-channel options, including shopping online, via smartphones, or click-and- collect from nearby stores.

Detego has seen significant growth in omni-channel services this last year, recording over 1.5 million omni-channel transactions through its software suite.

Uwe Hennig, CEO at Detego said, “Even with all the advances of the digital age, more than 80 percent of retail sales happen in bricks-and- mortar stores. In the fashion industry, customers still want to walk into shops to see, touch, and try on different outfits. While customer motivations for entering stores are largely the same as they were twenty years ago, their expectations are much higher. Customers who can find anything they want on their smartphones in seconds expect similar instant gratification in stores. They want the items they see online to be available in the store and in their preferred size, style, and colour.”

Hennig said, “Omni-channel services like click-and-collect are another important cornerstone for connecting the best of the online world with the benefits of bricks-and- mortar. Customers now expect a seamless, unified retail experience across multiple channels; for instance, being able to click on and reserve any items discovered online for trying on in a store the next day.” (GK)

Fibre2Fashion News Desk – India


Must ReadView All

5.5% rise in US holiday retail sale, exceeds expectations

Apparel/Garments | On 17th Jan 2018

5.5% rise in US holiday retail sale, exceeds expectations

US holiday sales in November-December last rose by 5.5 per cent to...

West Bengal to showcase Metiabruz as RMG hub at BGBS 2018

Apparel/Garments | On 17th Jan 2018

West Bengal to showcase Metiabruz as RMG hub at BGBS 2018

To double exports of readymade garments (RMG) in the next three...

Pakistan’s PHMEA wants end to polyester yarn import duties

Textiles | On 17th Jan 2018

Pakistan’s PHMEA wants end to polyester yarn import duties

The Pakistan Hosiery Manufacturers and Exporters Association (PHMEA)...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.8%
No
13.5%
Skip
17.7%

Total Votes: 96

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.5%
No
29.2%
Skip
7.3%

Total Votes: 96

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.5%
No
9.4%
Skip
3.1%

Total Votes: 96

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.3%
No
8.3%
Skip
9.4%

Total Votes: 96


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search