IoT ensures:Optimize merchandise stock levels
The problem: the biggest challenges is customer dissatisfaction due to out of stock items. 50% of customers go to another store if their preferred items are out of stock.
→ IOT transforms products in Smart products
Automatically monitor inventory in stores.
Product placement (planogram)
- How much product is in stock at any given moment: Automate alerts or reordering when levels reach a threshold, and prevent restocking items that are underperforming.
Product placement is critical and time consuming, this is another area in which smart products can dramatically benefit retailers.
→ With real time data being reported, product placement teams reduce the time it takes to analyze merchandise layouts, track the results of changes, make modifications, or plan for reorganizations.