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

Equate posts best Q12018 results since inception

Textiles | On 21st May 2018

Equate posts best Q12018 results since inception

Equate Group's first quarter results for 2018 are the best since its...

Maharashtra govt to help textile units set up solar plants

Textiles | On 21st May 2018

Maharashtra govt to help textile units set up solar plants

The state government of Maharashtra has formed a panel to help set up ...

Over 60% retailers already have IoT platforms: IDC

Apparel/Garments | On 21st May 2018

Over 60% retailers already have IoT platforms: IDC

Retail organisations are adopting IoT platforms and more than 60 per...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Johan Berlin
InvestKonsult Sweden AB

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search