Globally, up to one trillion dollars in annual revenue is lost due to shoppers encountering out-of-stock events as often as in one-in-three trips to the store. This translates to 40% of shoppers abandoning the store without any purchases and heading to a competitor instead. On the other hand, if they had found what they were looking for, “impulse buying” makes customers more likely to buy several other items in addition to what they had originally planned to purchase. The question here is – how do you make sure that your shelves are not just stocked, but that you have a smooth supply chain that ensures that they are always stocked? Intelliventory uses modern Iot-enabled technology and extensive data analytics to bring you the solution.
How it works
Intelliventory is an end-to-end solution that allows customers to monitor goods throughout the distribution chain, through tracking the movement of products not only on the shop floor but also in the warehouse. This level of visibility greatly enhances sales efficiency of FMCG (Fast Moving Consumer Goods) products. In other words, Intelliventory is dedicated to ensuring the right product is in the right place at the right time.
“The Intelliventory solution is the result of continuous discussions with customers,” explains Shreyas Vinod, CTO of Intelliventory. “There’s a lot of discussion regarding digitisation of industries in general and you can see the ongoing movement where companies are focussed on optimising processes in all verticals: production, transportation, retail, etc.”