Effective stock management helps retail stores to better use their storage spaces and efficient utilization of transportation. However, Walking around hundreds of shelf spaces to keep a record of your stocks can be a tough job to do in-store. Also, traditional counting methods can be inaccurate, resulting in poor shopper experience and loss of sales.
Automated inventory management, which incorporates technologies like RFID, artificial intelligence, Robotics, etc., has impacted every area of the business from inventory tracking, stock planning, and stock management. A report from ABIresearch states that deployment of RFID alone can increase the ROI of an apparel store to nearly 44% after the first year.
StockBot is an autonomous inventory management Robot that can track and collect inventory data to help you manage an in-store facility.
The StockBot Inventory Robot is designed and innovated by PAL Robotics, a worldwide leader in service robotics, in partnership with AGMIS EasyFlow to modernize the shelf-restocking processes. With the use of computer vision and artificial intelligence, AGMIS EasyFlow turns real-world data into meaningful business insights and analytics.
The StockBot Inventory Robot combines its unique vision, autonomous navigation feature, and computer-powered EasyFlow analysis to identify if a specific product stock on a shelf is partially empty or running low.
The technology constantly checks inventory and store levels and provides the store manager with almost real-time information and messages to the retail staff when a specific store needs restocking.
The Working of the StockBot Inventory Robot
Pal Robotics’ StockBot Inventory Robot with AGMIS EasyFlow is a comprehensive retail data solution, which leverages in-store pictures to deliver the information to decide and improve in-store activities.
The robot can navigate autonomously with the help of cutting-edge 3D mapping and navigation inputted by Pal Robotics. It collects in-store data through product images with its image capturing feature.
AGMIS EasyFlow Analytics
Through EasyFlow, the StockBot monitors the product supply on shelves of a retail or warehouse store and issues notifications when restocking or replenishment is required.
Features of the StockBot Inventory Robot
The unique features and specifications of the StockBot Robot make it one of the best inventory robots discovered so far. Let’s understand the unique characteristics of the StockBot robot.
Dimensions of the StockBot
The height of the robot is around 190 cm (6’2″), and the Width is about 50 cm, because of which it can navigate swiftly in compact places and reach higher levels in a store.
RFID (Radio Frequency Identification) Inventory
RFID employs electromagnetic waves to automatically recognize and monitor tags affixed to items. RFID System consists of a radio transponder, a radio receiver, and a transmitter. The StockBot consists of 4 circular polarized RFID antennas that emit electromagnetic waves in a spiral motion to locate the exact location of products.
The StockBot uses vision cameras that capture images in 3840 x 2160 resolution to monitor and locate products. The maximum height it can capture is 2.4 m (240 cm).
Battery and Charging
The StockBot can work continuously for 12 hours straight. It can be entirely recharged within 4 hours using its dock charging station.
StockBot reports regularly with the list and location of all the products in the store using its 3D mapping technology.
In the past, StockBot Inventory Robot has been employed in various facilities like supermarkets, clothing stores, retailers, and sales centers, from Europe and Asia to the USA.
StockBot continues to expand and assist retailers in handling their inventories. Recently, StockBot is used in a Decathlon store in Singapore, where StockBot performs the complete inventory of a 5,000 m2 store in just 6 hours.
Pal Robotics, based in Spain, founded by four engineers, has served in various service robotics areas since 2004. In addition to R&D in robotics, the company relies on its experience to build products with specific tasks, such as StockBot, making our lives easier by solving daily problems.
Its most significant innovations include the Talos Robot, a humanoid bipedal robot that can effectively perform tasks in factories, IoT, rescue operations, and space exploration.
How can StockBot Help the Retail Industry?
With its vision and RFID antennas, the StockBot robot can handle stocks more frequently and accurately for precisive locations of products.
StockBot is an easy inventory installation, and it requires only an initial setup. It is not necessary to modify existing stores; stores can utilize StockBot during open hours. It can help the retailers, shop owners in various ways like:
Increased Inventory Accuracy
StockBot eliminates human errors and enables staff with reliable, updated analytics and stock statistics to concentrate on improving customer service.
Improve in-store operations
It can enhance the store team’s productivity by allowing the staff to locate each product within seconds. With StockBot, store owners can obtain a real-time image of the inventory with control of misplacement and out-of-stock.
Enhance customer experience
The StockBot improves the speed and quality for consumers through accurate, up-to-date information of the stock that is available all the time.
StockBot can cut costs and decrease waste by precise inventory predictions, a reduced inventory, and increased shopping demand accuracy.
Transform In-Store Intelligence
StockBot can generate information that suits your requirements. It can help improve money mapping tactics, store management, shelf analytics, and compliance with planograms for visual merchandising.
StockBot, the retail savior
Post pandemic, things have changed. Both vital and non-essential retailers had to change practices, with most of them experiencing pandemic supply chain and inventory problems.
While conventional retail has been severely affected, internet retail is still booming and thriving. Such changes have made retailers aware of the need for advancing technology. In fact, technology has revolutionized the way owners run retail stores and companies, improve customer experience, and handle back-office operations.
The retail industry has undergone a transformation and adopted the latest technologies like AI-driven analytics, in-store digital evolution with humanoid robots, drones, and autonomous mobile robots. Recently, Corvus Robotics has developed flying robots that track warehouse inventory faster than humans.
The StockBot Robot can be employed in massive retail companies with various store locations to manage stock more efficiently.
StockBot could automate inventory management, allowing companies to focus more on customer experience and service rather than counting and managing stock. StockBot seems to be a robust autonomous navigation setup that has been scanning over 10 billion products, performing more than 20 stocks per week, and is used from 100 m2 to more than 20,000 m2 in space.