Tech Mahindra Ltd a specialist provider of connected solutions to the connected world and enabling future digital enterprises, announced recently the launch of its retail digital enterprise solution ShelfMonitor™ Mobile Merchandise Manager. This solution empowers retail store personnel with intelligent information on potential shelf gaps and real-time actionable insights, thereby helping retailers improve sales and avoiding lost opportunity.
As per a survey conducted by Electronic Product Code (EPC), the top 100 retailers have an estimated loss of $69 billion. One other research from Gartner indicates that out of stock rates are close to 6-10% for non-promoted items and 18-24% for promoted items.
ShelfMonitor™ solution is conceptualized and developed at Tech Mahindra’s Retail Digital Enterprise Solution Studio built on NMACSSS (Network, Mobility, Analytics, Cloud, Security, Sensors and Social) technology stack foundation. This solution can be provided as a service on pay per use model or as in-premise solution. The solution is hosted on Google Cloud and offers a host of innovative engagement models with a very low CAPEX requirement from retail customers.
“Tech Mahindra has a focused set of Digital Enterprise Solutions to help our customers transform into Digital Enterprises. ShelfMonitor™ is an innovative solution that will have significant impact on positive customer experience and increasing the topline revenues of General, Food & Grocery retailers. Being hosted on Google Cloud Platform, this solution is easy to deploy,” said Pravat Rath, Head, Retail Practice, Tech Mahindra.
By ensuring an optimum Minimum Presentation Quantity (MPQ) being present at the shelves, retailers will be able to provide consumers with a wide choice to shop upon and also create the right impulsive purchase intent with customers. This solution also helps retailers optimize the store productivity thereby improving the bottom line.
Given the macro-environment with omni-channel initiatives, the customer in-store experience is one-of-the key focus areas for Brick and Mortar stores. While retailers are modernizing, digitizing and transforming store systems for better customer experience, there still exists fundamental challenges in ensuring that right stock is available at the right time for the consumers on the shelves.
“ShelfMonitor™ powered by Google Cloud is one of those cutting-edge solutions, enabling future digital retail enterprises. The solution is live and tangible and has the potential to significantly reduce the out-of-stock situation in retail stores. Google has selected ShelfMonitor™ to be showcased at Google Stations during the Gartner Symposium/ITxpo 2013.” said Brandon Jung Lead, Cloud Platform Partners, Google.
Tech Mahindra’s Retail practice serves over 20 of the Fortune 500 customers. The customer focus and bespoke solutions make us stand out in the Retail and CPG space. We have a strong presence across the Americas, Europe, Asia and Australia. Our dedicated pools of consultants help clients add value across the core functions of retail. This team is focused on innovations across the value chain with specific focus on Omni channel customer engagement, fulfillment, next generation digital solutions & Supply Chain.
Gartner Symposium/ITxpo is the world's most important gathering of CIOs and senior IT executives. The 2013 edition took place at Orlando, Florida, USA. Tech Mahindra showcased ShelfMonitor™ at the event along with Google.