Our client, a Fortune 250 retailer in the home improvement industry, boasts an extensive network of over 1,500 stores spread across North America. Known for their wide array of products and services, the retailer faced a significant challenge in effectively managing its inventory, particularly items positioned in elevated locations within stores.
1 - The Challenge
The retailer encountered difficulties in accurately tracking "invisible" merchandise, leading to unaccounted inventory. Much of the high-value inventory was positioned above eye level and beyond easy reach, going unnoticed by both store associates and customers. The existing inventory management system struggled to address this problem, leading to financial losses and operational inefficiencies.
2 - The Solution
Partnering with our team, the retailer embarked on a transformative journey to address its inventory management challenges through leveraging advanced technologies in compact video recording, machine learning, and custom cloud software engineering. This system was successful in capturing and recording all inventory held above eye level in their stories, enhancing visibility and accountability.
3 - The Payoff
The implementation of the new inventory management system yielded remarkable results for the retailer. It led to the recovery of hundreds of thousands of dollars in previously unaccounted for inventory. The systems enhanced accuracy and efficiency significantly reduced labor hours, leading to a more productive workforce. Customers also benefited from improved shopping experiences, as the system saved them time and ensured better inventory availability. Encouraged by the success of the pilot program, the retailer is planning to expand this new system nationwide over the coming years.
Why Loop?
Expertise. Timely Delivery. Cost Efficiency.
Utilizing a team of six senior consultants for the data gathering and mobile development piece, the client completed the project on time and under budget. Our straightforward plan and operational efficiency resulted in over $1.5M in savings for our client.