SATO Global Solutions (SGS) is collaborating with Intel to provide a data-driven, end-to-end IoT solution designed to improve inventory accuracy.
According to McKinsey, IoT innovations in store layout, automated checkouts, and inventory management are expected to impact retail by up to $1.2 trillion worldwide by 2025, as a result of transforming business processes and enabling new business models.
The SGS IoT platform combines RFID readers with the Intel Retail Sensor Platform and big data analytics to track items in stores in real time. Retailers can standardize the collection, storage and analytics for store-based events involving inventory and customer interactions.
The solution also is designed to:
- Facilitate additional discounts to loyal customers on overstocked items;
- Provide digital signs to promote sales based on trending topics from social media; and
- Offer automated checkout.
“By using the new Intel Retail Sensor Platform, SATO Global Solutions can help deliver simple, affordable, effective inventory tracking and insight for retailers to improve consumer experiences,” said Joe Jensen, VP, Intel Internet of Things Group General Manger, Retail Solutions Division in a statement.