Puma Partners with Nedap to Roll-Out Omnichannel Inventory Solution
Niko Pajkovic — November 8, 2022 — Business
References: puma & retailcustomerexperience
Clothing retailer Puma North America has partnered with Dutch technology company Nedap to integrate the company's 'Nedap RFID' technology into its inventory management processes.
According to a press release, the deployment of the iD Cloud platform will reach 135 Puma retail outlets and will offer operators a quick and accurate way to count stock. In addition, the omnichannel solution will deliver effective replenishment features, smart refill suggestions, and data-driven metrics for loss prevention.
"RFID technology is already creating a seamless brand experience for Puma NA across all consumer touchpoints, with stock visibility a key enabler for product availability as well as circular services, which has allowed Puma NA to achieve 2% uplift in replenishment and 2% uplift in sales," said Russ Kahn, SVP, North America retail at Puma.
Image Credit: Unsplash
According to a press release, the deployment of the iD Cloud platform will reach 135 Puma retail outlets and will offer operators a quick and accurate way to count stock. In addition, the omnichannel solution will deliver effective replenishment features, smart refill suggestions, and data-driven metrics for loss prevention.
"RFID technology is already creating a seamless brand experience for Puma NA across all consumer touchpoints, with stock visibility a key enabler for product availability as well as circular services, which has allowed Puma NA to achieve 2% uplift in replenishment and 2% uplift in sales," said Russ Kahn, SVP, North America retail at Puma.
Image Credit: Unsplash
Trend Themes
1. Omnichannel Inventory Solutions - The partnership between Puma and Nedap showcases the potential for integrating inventory management with omnichannel strategies, creating opportunities for other retailers to follow suit.
2. RFID Technology for Stock Visibility - Puma's use of RFID technology has resulted in notable sales and replenishment uplift, presenting an opportunity for other retailers to adopt this technology to optimize inventory management and customer experience.
3. Data-driven Metrics for Loss Prevention - The iD Cloud platform offers data-driven metrics that can help retailers prevent losses, presenting an opportunity to develop predictive algorithms and AI-driven solutions to further enhance this capability.
Industry Implications
1. Retail Industry - The adoption of smart inventory management tools, such as RFID technology and data-driven metrics, can improve customer experience and optimize sales for retailers.
2. Technology Industry - Companies specializing in RFID technology, inventory management, and AI-driven solutions can partner with retailers to provide innovative tools that enhance inventory management and loss prevention.
3. Logistics Industry - The integration of smart inventory management tools with omnichannel strategies presents an opportunity for logistics companies to offer end-to-end solutions for retailers looking to optimize their supply chain management.
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