Recoshelf Helps to Digitalize Business Processes for Retailers
Yaroslav Parkhisenko, Co-founder of Recoshelf
Technological advances in the recent years and covid pandemic have accelerated business processes transformation dynamics. Thus, 85% of managers in retail plan to digitalize their business processes utilizing IoT, machine learning or big data technology. However, only a small percent of companies did indeed implement those technologies. Such contrast is due to the deficit of specialized providers in Ukraine and significant turnaround period of such projects.
As of today, new startups emerge in this sector. Recoshelf is one of them.
The company automates product out-of-stock (OOS) and warehousing conditions monitoring processes. Recoshelf allows store personnel to be free of routine tasks and helps improving sales efficiency.
We utilize a network of smart cameras that recognize what products are not fully stocked or missing on shelves and alarm store personnel about it. The system generates reports on availability of products and prices, as well as about planogram conformance. This allows to free up to 30% of personnel time for performance of other important tasks, such as helping customers or restocking. As a result of routine processes digitalization we increase sales up to 5-7%, reduce store operation costs and improve customer loyalty, who no longer see empty shelves.
How it works?
Recoshelf uses small portable cameras sized 2*4 cm (Fig. 1) for shelves monitoring. Cameras are arranged in such a way so that they can capture all products placed on a shelf. The camera then sends a photo to a server every 5 minutes, where artificial intelligence performs product recognition. Store personnel see OOS values in real time in respect of any shelf, for example, as a product availability diagram in the “beverages” category (Fig. 2).
Such a camera can be quickly installed in any part of a store and can be relocated to another place within a minute.
Online planogram monitoring. Having also information on product location, the system generates a realgram and compares it with the planogram. It’s done in an automated mode without human input or the need to make additional photos using a smartphone. Such data can be then sent to a staff member mobile device or as an API to retailer’s ERP system. It significantly saves personnel time and improves merchandizing quality.
Remote control of temperature parameters without a human input is yet another automation opportunity. This allows reducing time employees spend on checks as well as decrease product losses due to refrigeration equipment unable to ensure required temperature conditions. Temperature control is easy to overlook because temperature monitoring is performed from time to time, while our sensor sends data each minute. As a result, it allows to receive information about abnormal temperature parameters in due time, fix the equipment and reduce possible product losses due to this factor.
If your business plans to digitalize trading floor operations, we are open for business.
We offer a free-of-charge diagnostics and pilot monitoring of a trading floor. Upon results of the diagnostics, we will able to provide the most efficient solutions. Together with customer’s authorized persons we identify requirements to the system and tailor it to the needs of a particular company.