AI-powered solution uses real-time data to power dynamic decisions that help balance inventory, optimize sourcing, and streamline returns
Dropit, a retail technology company that layers AI into existing fulfillment systems for a smarter retail ecosystem, today announced Advanced Fulfillment, an AI-powered solution that uses real-time information to help retailers make dynamic fulfillment decisions. The solution uses a variety of data inputs, including proximity, real-time inventory, past sales, peak shopping hours and weather to inform more intelligent order allocation decisions, ultimately saving time, money and waste.
Traditionally, retailers have a limited scope of visibility into real-time inventory across various channels and locations, leading to inefficient sourcing decisions that result in dead stock, out-of-stock, and lost sales. At the same time, retail giants including Walmart and Amazon have raised the bar and set high customer expectations thanks to fast and intuitive shopping experiences — 90% of U.S. online shoppers expect free two- to three-day shipping.
Dropit’s Advanced Fulfillment solution empowers retailers to remain competitive by making intelligent fulfillment decisions with data-driven precision to overcome these challenges while minimizing stock issues and expediting fulfillment.
“Our Advanced Fulfillment solution is like having a team of data scientists on hand around the clock, instantly fine-tuning fulfillment choices for peak efficiency,” said Karin Cabili, CEO and founder of Dropit. “This comprehensive, data-driven approach reduces delivery times and costs while increasing customer satisfaction and profitability for retailers. It also helps retailers connect their often-disparate silos to maximize the technology investments they’ve already made.”
Dropit Advanced Fulfillment Boosts Intelligent Decision-Making
By connecting real-time data across channels, Advanced Fulfillment creates a consolidated inventory view that informs smarter decisions, minimizes errors and mitigates stock-related challenges. Retailers can leverage Advanced Fulfillment to:
- Unify inventory visibility: Connect real-time data across channels to establish a consolidated inventory view to inform smarter decisions and minimize fulfillment errors.
- Prevent stock issues: Use real-time data to make informed decisions that reduce the risk of stock-related issues such as overstock and out-of-stock scenarios.
- Streamline store fulfillment: Improve store fulfillment with efficient, real-time allocation and routing improvements using internal and external data.
- Simplify returns management: Streamline returns by routing them to the optimal location, which helps avoid markdowns and reduces logistics expenses.
- Reduce operational costs: Automate rules-based decision-making to reduce logistical expenses and diminish dead stock, improving overall operational efficiency.
- Grow profitability: Enhance inventory management and minimize fulfillment errors to seize sales opportunities and reduce unnecessary markdowns, improving revenue and profitability.
- Increase customer satisfaction: Make order fulfillment more efficient so customers receive products promptly, creating a better customer experience that leads to heightened satisfaction and a positive brand experience.
- Reduce environmental impact: Cut transportation emissions and inventory waste by considering proximity and shipping times with eco-friendly distribution and return routes.
Read More: SalesTechStar Interview with Kevin McWey, Chief Revenue Officer at DataVisor
