The term “IoT” known in full as “Internet of Things” refers to a range of technologies used to connect the digital and physical worlds. These technologies include devices with sensors, processing abilities, software, and a range of beneficial technologies that assist with the exchange of data with other systems and devices over the internet and other communication networks. IoT technologies have helped transform various sectors in significant ways. Currently, Walmart has adopted the next generation of these technologies for the transformation of its stores.
VUSION Invents the Next Generation of IOT in Stores with Walmart
The global digital leader solutions leader, SES-imagotag, recently announced a multi-year strategic partnership with Walmart. This partnership will see SES-imagotag bring its latest-generation VISION platform to Walmart stores across the United States.
IoT Technologies Deployed in Walmart Stores
For the first time in the history of the company, Walmart will deploy the next-generation VISION platform in its stores. The VUSION platform is a development by SES-image tag labs over a period of ten years through an R&D program. The next-generation VUSION platform is an upgraded version that features many key innovations for furthering digitized shelves. These features include:
• Smart rails that combine connectivity and energy
• Battery-less numerical labels with heightened performance
• A novel transmission protocol built on ultra-low-power new Bluetooth standard
• Low energy Bluetooth feature based on advanced interoperability with compatible devices
• Carbon footprint reduction that is better than any existing Electronic Shelf Labels Solution (ESLs)
How will Walmart Stored benefit from the IoT technologies?
Walmart decided to deploy IoT technologies because of the many benefits that come with this decision. A pilot program was run at one store which led to a lot of success. The benefits that came from the pilot program resulted in its wide implementation across hundreds of stores. Below are some of the benefits that Walmart will get from the deployment of IoT technologies:
Better Operational Visibility
One of the key benefits of IoT technologies is that they bring greater visibility into the operations. This benefit is combined with the ability to perform with greater efficiency. IoT technologies allow retailers to access the necessary data that helps make informed decisions and ones that are well-considered. IoT technologies help bring forth insights such as products that are selling better than others so that they can be a focus when planning sales. Also, they bring insight in what needs to be replenished and what is in plenty. Furthermore, the technologies help with information like the expiry and use by date for products. This way, the store managers know which products need to be promoted so they can sale faster. They can also use this data to determine the products that need to be dynamically priced so that they can sell quickly. Furthermore, the insight on items that are in high demand will help the store managers and operators know what needs to be reordered and what does not need. All this information is very necessary and critical for optimizing the operations at the stores.
Decreasing the Quantity Of Waste In Retail Stores
Another significant role of IoT technologies is decreasing the quantity and volume of products that would end up being disposed or going to waste. The technologies allow stores to make decisions like changing prices for products and crafting promotions so that wastes are minimized. By triggering purchases when necessary, delivering impactful messages on the product shelves, and targeting shoppers with products that are within reach can also uplift the sales at the store, hence minimizing the loses and disposals.
Increasing the Efficiency Of Replenishing And Picking Orders
Another key benefit of IoT technologies and their deployment in Walmart stores is increasing the efficiency of replenishing and picking orders. These technologies help retailers meet their sustainability standards and goals. The technologies promote clear insight into the popularity of products, how often clients purchase certain products, and how the sales shift due to changing client needs and demands. They also promote insight on how retailers can reduce over-ordering of certain products that are limited at the store. These IoT technologies worth together to optimize in-store productions and meet the demands of retailers and the clients to avoid waste and excessive mark downs. Furthermore, to reduce waste in the stores, the data from the IoT technologies help create accurate plans for fresh food production and supplies.
They Help Retail Stores Achieve Their Sustainability Goals
When it comes to sustainability, retail stores face an issue with product disposal and food waste issues. Retail stores like Walmart are constantly dealing with the necessity to get rid of products that are unfit for consumption, those that are past their date of expiration, or ones that are not popular with their clients. These stores also constantly have to deal with products that hurt the environment. IoT technologies help resolve these issues thanks to the power of insight.
Digitalizing Physical Stores And In-Store Information Analytics
IoT technologies help digitalize physical stores and produce real-time and accurate in-store information analytics. All this helps start-up an era of improved collaboration between retailers and their suppliers. This also benefits the supply chain efficiency. IoT technologies promote transparency, safety, and sustainability in the operations between suppliers and retailers.
The Conception Of The Partnership
The partnership explained above began with a pilot program in one of the Walmart stores in Arkansas. The pilot program implemented key IoT technologies to optimize associate productivity and enhance the customer experience at the store. The success of the pilot program led to its expansion to other store locations in the US. Walmart stores experienced several benefits from the trial, which led to the desire to expand the collaboration to include hundreds of Walmart stores in the US.
What is the goal of The Partnership Between VUSION and Walmart?
The partnership aims to equip over 500 locations with about 60 million digital shelf labels over the next 12 to 18 months with the probability of expansion within Walmart’s fleet of stores. At the moment, hundreds of Walmart stores are part of the project. However, the program’s current success is bound to lead to widespread deployment of the next generation of IoT technologies in Walmart stores. The success of the project at Walmart is also likely to trigger a wider application of next-generation IoT technologies in the retail sector. This is likely to include more companies besides Walmart.
