IoT Solutions Provide Retailers the Inventory Accuracy They Need
As retailing grows more complex, so does managing store inventory. In this discussion, RSR Research’s Brian Kilcourse explores why inventory accuracy is such a major concern for retailers and why more retailers are looking to Internet of Things (IoT) technologies to help solve operational challenges. With the lines between online and in-store shopping continuing to blur, inventory accuracy helps retailers deliver a seamless, streamlined experience to consumers.
Retailers commonly use manual labor to gain data about their inventory. But manual labor has two major challenges: first, inventory data becomes out-of-date nearly immediately after being counted, and second, as labor costs increase using store staff to count items becomes costly. Innovative retailers are increasingly turning to IoT solutions to automate inventory counting and gain reliable, always-on data on their stores and supply chain.
In fact, inventory accuracy was ranked first among the top three operational challenges retailers saw IoT solutions as able to address. More than just a convenient way to avoid manual counting, always-on inventory data allows retailers to execute on complicated omnichannel strategies, from in-store pickup to easy returns.
Download the full report to explore why retailers are choosing IoT solutions, including solutions based on the Impinj platform, to gain accurate inventory data across their enterprise.