Robotic automation in the industry of retail, with technologies such as stock-taking robots, is growing rapidly, proving its potential to solve some of the problems and challenges the industry is currently facing. Given the importance of stock and inventory management in the retail business and its tight, but sometimes not so obvious relation with customer experience, stock control is one of the hottest topics in the spotlight. New proposals and solutions like Stockbot are appearing, and we will for sure get to know them in the Retail & Brand Experience World Congress which will take place from May 27th to the 29th in Barcelona!
PAL Robotics will be there showing the latest trends in the sector and exhibiting our robot Stockbot, a safe and autonomous robot that aims to resolve some of the existing challenges the industry of retail is facing, automating inventory taking in stores and warehouses.
We would like to tell you how at RBEWC 2019!
A snapshot of today’s retail challenges
New technologies have reshaped retail, but mainly for customers. The emergence of e-commerce has brought to customers the possibility of choosing amongst a large number of sellers to purchase the same product, which raised competitiveness.
However, retailers haven’t updated the technologies they rely on to improve their internal procedures, which most of the times are manually performed. Stock issues – especially the lack of stock monitoring, and inaccurate inventory data – persist in a vast majority of retail stores. This question leads to a lack of knowledge about what happens inside their business.
Not detecting missing products, overstock or out-of-stock situations, entails important difficulties when retailers forecast customers’ demand and plan orders for restocking. All in all, the lack of stock control becomes a huge danger in today’s retail and implies a significant revenue loss for retailers, now that the sector has become dynamic and key actors are react faster.
Staying ahead in retail with stock-taking robots
Autonomous solutions like stock-taking robots can revert the revenue loss caused by inaccurate inventory data in retail. The robot’s outcome enables to track inventory and monitor how products are selling. Also, having an updated 3D map of the products’ location in store is an immense advantage to daily detect and locate any unexpected problem with stock and rapidly settle such situations.
What is the direct consequence for employees? A relevant effect of having a robot helping them with inventory is that they can start trusting reliable and updated stock data – for the first time! – thanks to the outcome of the robot, which is directly integrated into the retailer’s system. Besides, employees can leave behind the inventory-related tasks, which take most of their work time. Instead, they can start providing a customer-tailored service, helping clients find what they need and go happier.
What retailers want at the end of the day
What is the result of adding StockBot robot in your retail store? In short, avoid potential lost sales and increase customers’ satisfaction, which will have the effect that all retailers want at the end of the day: increase customer’s loyalty.