SANTA CLARA, CA -- (BUSINESS WIRE) -- OMNITROL Networks, the leading provider of real-time sensor-driven operational intelligence and item-level traceability solutions, announced the launch of the next generation of its Retail Smart-Store software application. Blending real-time replenishment forecasting with automated predictive replenishment alerts, the new system has been designed to eliminate in-store stock-outs, optimize store-to-store transfers and reduce mark-downs. It also features state of the art customer behavior analytics that enable the retailer to proactively shift stock levels based on customer interaction with products in the store.
"Retailers have a need for a more efficient way to manage and track their inventory in the store," said Nitin Parab, Chief Executive of Manufacturing, Retail, and Media at Zensar. "With the Omnitrol Retail Smart-Store solution, our retail customers now have the ability to customize every store's inventory based on the unique characteristics of the local customers, which will lead to higher revenue, profitability, and customer satisfaction for the retailer."
Traditionally, retailers have used historical data gathered across multiple store locations to plan product stock levels within their retail outlets. However, because shopping trends vary by location, this has resulted in unnecessarily lost capital due to overstocked items being marked down as clearance. With the Omnitrol Retail Smart-Store solution, customer behaviors such as product touch rates on the shelf and fitting room activity are correlated with purchase rates, enabling the retailer to shift inventory dynamically based on real-time customer behavior information for the specific location, rather than relying entirely on point-of sale information.
"The Omnitrol retail solution is regarded as a robust and scalable platform, tailored for incrementally scalable multi-store deployments," said Mark Tailford, Managing Director Nordic ID, Ltd. "The introduction of customer behavior analytic functionality enables a new class of services for the retail community, evolving deployments from mere inventory-counting to gaining true visibility into item level movement of products on the store floor."
"The use of RFID within the retail sector has shown tremendous improvements in inventory accuracy and rapid replenishment resulting in as much as 50%+ improvement in operating profits," said Raj Saksena, CEO and President of Omnitrol. "The Omnitrol Retail Smart-Store solution takes RFID to the next level by allowing the retailer to not only know what is on their shelves, but also what items their customers are interacting with at the store and which of those they are purchasing. These types of analytics enable the retailer to be proactive rather than reactive in the way they merchandise their stores."
About OMNITROL Networks
OMNITROL Networks is the leading software platform provider delivering solutions that automate operational intelligence and asset traceability across global supply-chains. The company's award-winning Edge Application and Services Engine (EASE) platform has pioneered real-time automated item-level traceability, visibility, status and B2B operational collaboration directly from operations by integrating wireless and digital sensor technologies with operational processes. OMNITROL's powerful solutions can be easily customized enabling high-integrity visibility, predictive alerts and business intelligence in retail, distribution and manufacturing operations at the lowest total cost of ownership in the market. OMNITROL Networks is a privately held company with corporate headquarters in Santa Clara, CA.