Staying ahead of the technology curve means strengthening your competitive advantage. That is why we give you data-driven innovation insights into the retail industry. This time, you get to discover five hand-picked retail inventory management solutions.
Out of 174, the Global Startup Heat Map highlights 5 Top Retail Inventory Management Solutions
The insights of this data-driven analysis are derived from the Big Data & Artificial Intelligence (AI)-powered StartUs Insights Discovery Platform, covering 2 093 000+ startups & scaleups globally. The platform gives you an exhaustive overview of emerging technologies & relevant startups within a specific field in just a few clicks.
The Global Startup Heat Map below reveals the distribution of the 174 exemplary startups & scaleups we analyzed for this research. Further, it highlights five retail startups that we hand-picked based on criteria such as founding year, location, funding raised, and more. You get to explore the solutions of these five startups & scaleups in this report. For insights on the other 169 retail inventory management solutions, get in touch with us.
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Super Robotics offers Robotic Inventory Management
Founding Year: 2016
Location: Madrid, Spain
Partner For: In–store Robotic Automation
Super Robotics is a Spanish startup that develops in-store robots for the retail industry. BoB is the shelf auditing robot offered by Super Robotics. BoB monitors available stock on store shelves and provides real-time updates regarding out-of-stock or low-stock products. Super Robotics is enabling retail stores to monitor and manage their on-shelf product availability more efficiently. This improves inventory management as well as customer satisfaction.
Orca Scan provides Paperless Inventory Tracking
Founding Year: 2016
Location: Cambridge, UK
Partner For: Barcode Tracking
British startup Orca Scan develops barcode technology for paperless inventory tracking. Orca offers their barcode scanning application which is used by store staff to scan specialized barcodes, also generated by Orca’s platform. Using this approach, staff obtain quick access to product-related information such as the number and location of items available in stock enabling them to understand the available inventory. This leads to solving short-term and long-term problems such as a customer needing a product not available on the shelf and improved inventory purchase decisions for the retailers.
Hooro enables Retail Shelf Analytics
Founding Year: 2017
Location: Bologna, Italy
Partner For: Shelf Inventory Management
Italian startup Hooro develops a machine learning-driven platform for on-shelf stock detection. Its platform is easily integrated with existing store camera systems to monitor shelf spaces and offers insights on low and out-of-stock products. This information is useful for retail stores as product availability in the stores is updated in real-time at the time of the customer’s purchase act. This enables staff to optimize on-shelf availability and manage their warehouse inventory more efficiently.
Uprow offers Smart Point-of-Sale (POS) Systems
Founding Year: 2018
Location: Ludhiana, India
Partner For: Sales Data-driven Inventory Management
Indian startup Uprow offers smart POS systems that allow retail stores to manage inventory from sales data. Uprow’s POS integrates with the store’s inventory data and allows retailers to track an unlimited number of products. Whenever any product is sold, the POS updates the product count in the inventory list. This offers insights on products that are selling fastest and whether they are low in stock. The startup’s solution enables retailers to make informed purchasing decisions to restock their inventory.
Automifai offers Procurement Process Improvement
Founding Year: 2019
Location: New York, US
Partner For: Retail Stock Management
US-based startup Automifai leverages AI to improve procurement processes for retail stores. Automifai’s platform analyzes the store’s supplier patterns and detects any inefficiencies that lead to stock shortages. Based on this analysis and the average lead time, the system optimizes order placements and suggests purchase sizes that are economical for the store. Additionally, the platform analyzes yearly sales trends and seasonal purchase patterns. This improves the inventory purchase processes of retailers which leads to streamlined inventory management.
Discover more Retail Startups
Retail startups such as the examples highlighted in this report focus on virtual assistants, self-service stores, and electronic article surveillance. While all of these technologies play a major role in advancing the retail industry, they only represent the tip of the iceberg. To explore retail technologies in more detail, simply let us look into your areas of interest. For a more general overview, download our free Retail Innovation Report to save your time and improve strategic decision-making.
