Electronic Shelf Label Optimized Inventory System

Time:2021.12.12     Author:sertag

  Store inventory system is often the management pain point of retailers. Whether it is the lack of stock and storage shortage caused by inaccurate purchase forecast, or the low grasp of safety inventory, resulting in too much incoming materials and overstock inventory. Behind the turnover rate of goods is the manufacturer's cash flow and inventory cost. The optimal inventory management system can not only help retailers optimize cost and cash flow, It can also create uninterrupted sales opportunities.
  In addition to displaying the product price and relevant information, ESL integrates QR code or button on the smart tag to allow the clerk to directly connect with the purchase page to place orders and replenish goods, and the warehousing and procurement are seamlessly integrated; On the other hand, through the back-end platform to query the inventory in real time, the warehousing operation and procurement operation are transparent, and the communication between operations is more smooth and efficient. However, since most stock outs occur on store shelves rather than retail storage, making good use of the inventory visualization advantages based on ESL and monitoring the sensed shelf inventory 24 hours will help clerks replenish goods in real time and save time for inspection one by one.
  The amount of product information in the shopping environment will affect consumers' purchase decision. In addition to the price, ESL can also display a variety of information, such as promotion time limit, inventory quantity, user evaluation, product composition and origin. Consumers can use their mobile phone to scan ESL to further watch product use videos, reduce uncertainty and increase purchase confidence. In addition, retailers can push stores or brand time limited activities to mobile phones through ESL. Therefore, the label is not only a carrier to mark the price, but also a medium for retailers to communicate with consumers. Through the richness of product information, it can reduce consumers' cognitive risk, achieve the effect of advertising and persuasion, and have positive benefits for consumers' purchase decision-making.