As AI tools are becoming more accessible for companies, businesses should evaluate existing possibilities to efficiently exploit the opportunities AI offers. Artificial intelligence is getting more significant role in automation, data analytics, and natural language processing, however making the most out of the available technology can be challenging. Our Digital Lab developed solutions to answer the special needs of retails, focusing on warehouse inventory and a digital platform for small and medium retail businesses.
Warehouse inventory is a tedious task that can halt everyday operations. Besides it often requires the rental of specialized equipment and the recruitment of employees and for a large business it can mean significant costs. In this case, an AI-powered inventory tool can fundamentally change the inventory process by taking over much of the routine.
How it works
An automatic warehouse inventory system is installed on a standard forklift or a reach truck. It scans the barcodes on the pallets and logs the data into a spreadsheet in real-time. The scanning speed and accuracy are impressive: 2.5 seconds per pallet with 99.9% accuracy. The inventory tool requires neither any special equipment nor changes to the room. It supports various types of pallets and multiple barcodes even under the film. The system independently calculates the height of cargo on the pallet. The tool is launched and operated through a mobile app installed on a tablet.
Here you may ask a rational question: where is the artificial intelligence? However, inventory in practices often includes non-standard tasks that cannot be solved by a regular barcode reader. For example, determining where one cell ends and another begins (one cell can contain two half-pallets with different numbers of layers). A system without AI and computer vision would be unable to distinguish between these two half-pallets and understand that they stand on the same cell.
Experience shows that the implementation of such a system takes about 2 weeks after its delivery. The project implementation team consists of only 3 people: an operations engineer, a software developer, and a project manager.
Such an inventory system implemented for one 3PL operator exceeds manual inventory in all key indicators by almost two times:
The cost of one inventory, $
The cost of inventory 1 place, $
Time of inventory of one pallet, sec.
Total time of inventory, hours
Platform for retail
Large retail chains have long started their digital transformation journey. They spend considerable resources to create in-house solutions or buy ready-made solutions. Advanced technological solutions grant large retailers a competitive advantage over medium and small businesses. These solutions leverage big data technologies, artificial intelligence, machine learning, computer vision, and the Internet of Things.
Softline gained experience in the implementation of IT solutions to optimize processes and create added value at large, federal-scale networks. As a result, we have developed a single platform with dozens of tools for the digitalization of small and midsize retail chains.
How it works
The platform for stock inventory and control on store shelves now offers the following tools: Accounting (identifying virtual stock, cleaning the catalog), Supply Chain (sales forecast for the week, order recommendations), Promo Management (forecasting demand for promo goods), and Analytics (online store discipline dashboards, stock availability, anomalies, and key metrics for executives).
Softline’s Digital Lab combines a unique set of digital competences and modern methods to support the digital transformation journey. Our experts can create solutions according to your specific business requirements and put them into action as quickly as possible. After analyzing some of the most common challenges experienced in the retail industry, we have collected a series of solutions that can improve efficiency and contribute to business growth. Learn more about the possibilities for your business by contacting our colleagues in the form below.
Financial services providers are forced to rapidly accelerate the digitization of their businesses as managing data well is now the cornerstone for digital transformation. AI will become crucial in helping banks and others to automate operations, manage risk, prevent financial crime and cyberattacks, and personalize their services. Learn how AI is helping financial institutions to transform their operations to meet their current challenges and to prepare for future.
Eighty-four percent of technical decision-makers believe they must implement AI to maintain a competitive advantage in their industry. While the possibilities for AI within applications are endless, a Forrester study reveals that organizations can start with five core use cases to realize value quickly: knowledge mining, document process automation, speech transcription and analytics, machine translation, and conversational AI.
Enterprises are implementing a new generation of machine learning operations (MLOps) platforms that help them democratize and operationalize AI, allowing them to accelerate and govern the end-to-end machine learning (ML) model lifecycle. In this article we collect the drivers why organizations decide to develop Machine Learning model, and we summarize why Microsoft Azure Machine Learning is the solution.
With the ever-increasing volume of video footage, analytics is more important than ever. Implementing an intelligent platform instead of standalone services allows the implementation of any recognition scenarios creating a customizable and long-term solution. Learn more about Real Time Media Identification Platform and harness the potential lying in video content analytics.