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Contact us

Harnessing ML to craft intelligent retail inventory management systems

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Client Location

Europe

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Client Industry

Food and Beverages

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Services Provided

Cross-platform application and analysis tool built with Edge computing and ML

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Technologies Used

Python Django, React JS, React Native for Mobile, Realm, Azure, and Core ML

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Allocated Team Size

8
Engineers

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Project duration

6+ Months and ongoing

Client

Client Background

A conglomerate with a dominating presence in the global market, our client operates in more than 150 countries. They are a revolutionary player in the food and beverages industry, responsible for building some of the signature products and brands in the world. With a huge fan-following, our client's brand presence creates a massive impact on the market.

Requirement

The client needed a central digital system that allowed them to accumulate, quantify, and analyze their brand's visibility in the retail space. As retail is one of the largest sales pipelines for the client, increased visibility here would result in higher sales.

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Problems

Business Challenges

01.

Understanding the inventory of the retail operations is a fairly challenging process, given the high level of unorganized data.

02.

There are various factors like price, promotion, workforce efficiency, etc. that affect the overall data. Catering to a global market, the competition is serious- both local brands and other international players. 

03.

A global conglomerate means a diverse workforce across different hierarchies. And it is highly possible that the true essence of the vision of the client is not conveyed to the entire hierarchy of the workforce.

04.

Building an omnipotent channel for a volatile market is tough, given the multitude of factors it depends upon.

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Methodologies

Our Process

01

Understanding the Shelf Presence

Our first priority is to understand the flow of the client’s products across the store and monitor the product visibility in the Shelf.

02

Identify the planogram

Bad placement of a product means low sales. By visually drawing the best planogram helps to increase the sales and easy access of products in Shelf.

03

Collect and Analyze

Our Edge computing and ML tool allows to understand the exact difference in between a high-performing product placement and low-performing placement.

04

Devising customized sales & marketing strategies

Our client can now create customized strategies to address their plummeting sales channels by analyzing all the previously mentioned metrics.

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Our Team

Team Structure

We assembled a team of skilled tech engineers and market experts to create a holistic approach to the problem.

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UI/UX

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Data Engineer

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Cloud Architect

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Quality Analyst

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Mobile App Developers

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Backend Developer

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Projects Manager

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Front End Developer

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Customer Success Manager

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Tech Stack

Tools and Technologies

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Communication Tools:

  • Slack for internal communication.
  • Google meetings/Zoom for client communication.
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Technologies

  • Backend - Python Django Framework
  • Frontend UI - React JS
  • Mobile App - React Native
  • Mobile Local Database - Realm
  • Core ML
  • Cloud - Azure
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Project Management Tools

  • JIRA- Task tracking and sprint plans.
  • Github- version control.
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Outcome

Solutions Offered

Result

Business Impact

Greater

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Greater brand visibility

Our tech-forward strategy increased the visibility of our client’s products, ultimately increasing the audience engagement and pushing sales.

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Hike in sales figures

By pinpointing the exact locations of low concentration areas, we helped our client to increase their sales figure significantly.

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Space for expansion

Built on influential platforms like edge computing and Machine Learning, there is ample space for expansion and helps our client to stay future-proof!

Frequently Asked Questions

How does retail inventory management help businesses in the food and beverage industry to optimize their operations and reduce costs?

Inventory management software for food industry companies can monitor their stock levels, reduce waste, and ensure that their products are fresh and safe. A proper storage technique and routine inventory inspection can help prevent potential food contamination and spoilage issues.

What problems does food and beverage analytics solve?

For the food and beverage business, cross-contamination, food contamination, and quality control are still key issues. Since this has an effect on every link in the supply chain, but particularly on the factories that make and prepare food, food and beverage analytics solutions are eassential.

What is retail optimization software?

Software for retail assortment planning assists offline businesses in developing a product mix (kind of products) and depth (number of SKUs or items within each category) for their in-store inventory that satisfies demand and customer expectations. By putting the proper assortment in the right location, it helps generate the most revenue.

What role does retail space planning play?

Space planning establishes where and how to position products in a store to boost sales. It can also be used to change a product's visibility, appearance, and presence to make it seem more desired or to make sure there is enough inventory on the shelf to display.

What exactly is shelf space optimization in the retail marketing strategy?

Shelf space management, defined as the careful placement of products and organization of categories on a retail shelf within a store to generate more sales, is one of the most important strategies for retail managers. Retailers consider a number of factors when deciding which products to accept and place on shelves.

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