Radar, the tech firm using RFID and AI to track and locate store inventory, has launched a new platform to provide greater data and details on the movement and whereabouts of merchandise in stores.
The new platform, called Radar+, builds on Radar’s core inventory tracking and optimization technology which provides real-time data on inventory to help retailers and brands maximize sales, provide better customer service, and more effectively replenish, order and allocate merchandise. Radar says its system is 99 percent accurate.
Radar+ gives real-time info on products going into fitting rooms; products customers try on and buy; phantom inventory, and items misplaced within the store or left in a fitting room for a certain amount of time. (Phantom inventory shows up on the inventory management system as available, but is nowhere to be found when an associate checks the store shelves, stockroom or warehouse. It’s often caused by theft.)
Radar+ also makes real-time replenishment recommendations to get fast-selling items back on the floor first; sends alerts when a product is out of place so it’s returned to its rightful spot, minimizing the risk of a lost sale, and offers hourly updates on metrics such as customer dwell time, on-floor availability of merchandise, and product replenishment time.
Radar is an alternative to the conventional labor-intensive handheld RFID readers, or wands, store associates use to read RFID tags to take inventory. Radar provides real-time reads on inventory continuously, and the kind of data that otherwise would only attained online through e-commerce.
Radar uses disk-shaped overhead scanners constantly tracking garments embedded with RFID chips. Store associates receive the RFID-generated product data on their mobile devices.
“In the world of retail, physical stores have historically been a data desert,” said Glenn Burwell, Radar’s vice president of product and customer experience. “By leveraging AI and machine learning to power advanced analytics, Radar+…builds on our core capabilities to provide real-time inventory and intelligence to store staff, while also giving corporate leaders the same level of visibility in each store as they have with their e-commerce channels…to optimize the entire store, from inventory planning to merchandising, distribution and operations.”
With many stores also serving as fulfillment centers for online orders and pickup sites for online orders, Eric Mogil, Radar’s chief growth officer, said, “Radar+ lets retailers see the placement and movement of every single item in every store, in real time, so they can maximize sales and profitability and consistently deliver an excellent customer experience.”
