Sensor networks improve inventory management

The VISION Retail Platform by SGS is the first cloud-based IoT platform that leverages shared data to improve inventory accuracy and visibility, product on-shelf availability, sales associate efficiency and the retail customer experience.

The sales associate application is one of the major components of the VISION Retail Platform that gives sales associates inventory visibility within the store and a list of concrete tasks that maintain items on the shelves and reduce out-of-stocks. Another component of the platform is the smart fitting room application, which allows customers to view in-store inventory while in the dressing room, as well an option to alert an associate’s mobile device. The store associate receives the alert and can instantly see where the item is located, enabling them to deliver the right item to the fitting room within minutes.

"The platform uses RFID to give stores a complete overview of a products lifecycle within the store, as well as customer behaviour based on product lifecycle. The platform seamlessly connects various inputs such as tags, sensors, gateways and videos to continuously deliver actionable insight on all aspects of inventory management and omni-channel customer engagement. Additionally, it is designed to be expandable, sustainable and scalable, simplifying digital implementation and creating a foundation for future growth," Keith Sherry, chief operating officer (COO), told Fibre2Fashion.

The real-time data collected with the help of Vision Retail Platform allows retailers to understand the behaviour of customers in the store by providing unprecedented insights into what customers are buying, the time periods footfall is the highest, the customer journey within the store, and merchandising effectiveness, enabling retailers to make more accurate inventory stocking decisions without the worry of overstocking.

"While the VISION Retail Platform is an in-store solution, it provides a foundation for retailers to continually expand and easily meet the needs of the store of the future. This includes seamless integration of technologies to create a true omni-channel experience regardless of where the shopper is in the customer journey," said Sherry. (RR)

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Fibre2Fashion News Desk – India