How visual intelligence handles retail inventory: Meet smart inventory tracking
Undoubtedly, stock tracking is one of the most important points that retail businesses need to pay attention to operate. Without streamlined shelf monitoring, the business suffers serious material and moral damage. Today, most retail businesses manually carry out inventory tracking, which is time-consuming and causes a high error rate. Researches show that failure to follow up on the correct inventory cost retailers $1 trillion a year. At this point, using the incredible point of technology makes real-time shelf monitoring a reality, which both minimizes mistakes and can be very profitable.
Since e-commerce does more business than physical stores today, stock management becomes much more important for physical stores to set up in the game. Because when a grocer cannot place the right products on their shelves, if stock control is not provided regularly, there’s no doubt that the product is absent in the first order, which positions retailers or CPGs as careless or unreliable brands by other users. Therefore, correct stock control is the most important point in the sustainable life circle of your business. So, how can effective stock tracking be carried out today? Vispera’s latest collaboration with Intel may be the answer, which leverages artificial intelligence and automation systems with the power of real-time computing.
Real-time shelf monitoring is finally possible
Artificial intelligence (AI) technology is reshaping stock management for retail businesses. Retail businesses are using image processing technology, automation and artificial intelligence to customize promotions in real time. Thus, inventory management is carried out without any problems. Vispera’s solution, Shelfsight, which has received great interest from many users, takes fixed digital records of the products on the shelves in a store and then uses these records to provide ease of automatic inspection. But how?
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Shelfsight now uses Intel® Xeon® Scalable processor technology, optimized with the Intel® Distribution of OpenVINO™ toolset and Intel® DevCloud for the Edge.
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The system enables intelligent rack management.
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Intelligent shelf management Shelfsight detects and reports out-of-stock items, misplaced or excess items. Thus, error-free rack management is realized.
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The system allows data-based work to be done in many areas, such as taking inventory and directing the personnel workflow.
To survive in today’s competitive environment, retailers must provide their customers with a unique experience by eliminating unnecessary and inefficient steps in their operations. Although the use of data contributes at this stage, smart solutions should be used to make sense of big data. Vispera’s Shelfsight solution provides data-centric stock and inventory tracking by accurately transferring actions to data.
Intel and Vispera join forces for advanced smart inventory tracking
When today’s consumer behaviors are examined, it is seen that consumers want to see the product they want on the shelves and that the sympathy of the consumer, who sees the stock-free product, decreases. For exactly this and similar reasons, Shelfsight™, equipped with Intel technologies, was developed. Shelfsight™ can be effectively tracked and stock inventory control is resolved with minimal hassle thanks to this shelf monitoring. Not only that, but Shelfsight™ also brings many advantages.
Another type of AI inventory management uses smart shelves to easily identify out-of-stock products and pricing errors. Vispera informs staff of products that are about to run out or misplaced, enabling them to use more up-to-date inventories. Payment systems using image processing help reduce product loss in real time. As a result, retailers can manage their stores more efficiently and lead sales consultants to improve the shopping experience.
Key benefits of Shelfsight™ technology
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Instant OOS Detection: Thanks to this feature, which is one of the most prominent features of Shelfsight technology, the product that is out of stock is detected immediately.
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Cloud storage, supply chain optimization and consumer shopping habits.
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Shelf Share Monitoring: Thanks to Shelfsight’s advanced artificial intelligence, the size or weight of the products can also be determined, so product-shelf tracking can be done more easily.
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Seamless optimization – integration
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Vispera Shelfsight™ is an Intel® RFP Ready Kit (Intel® RRK). To accelerate time-to-market and reduce complexity within the journey to loT solutions, look no further than Intel® loT RRKs. These integrated, use-case focused, commercial-grade technology bundles align with key industry verticals
The Impact: How Smart Inventory Tracking Transforms Shelf Inspection
In joint 6-month pilot studies conducted with Intel in large chain markets such as Cencosud – Walmart, it was observed that product availability and planogram compatibility increased by up to 20 percent in multiple product categories. In large, small, or chain markets, Shelfsight provides complete and error-free stock tracking and management. This means that Sheldight can be used with seamless program integration. Learn more about the cutting-edge technology behind Shelfsight here.