Replenishment of consumables and materials is traditionally based on inventory data and vendors shipping products on a regular calendar cycles, often resulting in supply chain overages or gaps, errors, increased labor costs, leading to dissatisfied customers.
For B2B and B2C companies, IoT-enabled auto replenishment can automatically track inventory and make resupply predictions based on real-time data such as stock levels and usage. This enables companies to implement demand-driven, timely and cost-efficient reordering and restocking processes.
IoT auto replenishment benefits can be substantial, creating efficiencies, saving money, and has the potential to increase sales:
- Restocking orders based on real-time consumption and predicted need
- Automatic mail-order replenishment of consumables
- Automatic materials and resource scheduling in ERP systems
Implementing on-demand IoT auto replenishment enables vendors and suppliers to optimize inventory management, reduce overhead, and create a deeper customer relationship.
Implementing a successful IoT auto replenishment system requires expertise in lifecycle cybersecurity and support for legacy replenishment processes or systems to meet the following requirements:
- Ability to collect and process stock and usage information at the replenishment site for real-time, consumption-driven analysis
- Secure, reliable, and time-bound communication of data and replenishment information to the cloud systems
- Integration with new and existing back-end cloud infrastructure, such as e-commerce, ERP, and CRM
The Electric Imp Connectivity Platform helps companies enable real-time, demand- and prediction-driven replenishment. Our platform is a complete solution for secure, reliable connectivity and intelligence that addresses the key IoT challenges of auto-replenishment by:
- Providing device and cloud intelligence to implement replenishment decisions based on stock levels and real and predicted usage
- Secure and continuously managed communication between the device and cloud systems
- Pre-built integrations, as well as ability for custom integrations, allow customers to seamlessly connect to their existing e-commerce and fulfillment solutions
With Electric Imp, your company can quickly realize the business benefits of IoT auto-replenishment, and increase the stickiness of your products and services to drive recurring revenue.
Actus
Actus is a solutions provider specialized in using IoT to drive efficiency, optimize output, and reduce costs in the convenience store industry.
Actus offers a connected solution for supplying and managing fresh-brewed coffee in convenience stores across Mexico.
Actus retrofits the coffee makers with Electric Imp modules to connect them seamlessly into the Actus cloud platform for continuous monitoring and management. For example, the system detects replenishment situations such as “coffee pot empty” or “beans empty” and displays real-time notifications alerting store employees to make a fresh pot of coffee or refill the beans, based on expected demand patterns. The system will also detect when the situation has been resolved, ensuring compliance.
The Actus solution has led to dramatic increases in production compliance and a 40-50% increase in sales because customers know a cup of fresh and delicious coffee is always available, keeping patrons happy and ensuring that potential sales are not lost.