U.K. tech innovator expanding into the U.S.; names new management team
A U.K.-based multichannel grocery fulfillment technology company has big plans for the United States.
Impulse Logic, which offers solutions for multichannel grocery distribution using AI and machine learning store optimization software, plans to expand to and heavily invest in the U.S. grocery industry and other retail sectors.
To lead its growth plans on both sides of the Atlantic, the company appointed U.K. retail industry veteran Matthew Frost as CEO. Frost, who held leadership roles at Asda (which at the time was owned by Walmart), Waitrose and Dubai-based Spinneys, previously served as a strategic advisor to emerging beverage brands. He replaces Impulse Logic founder Les McNeill, who now serves as chief technology officer and leads the company’s development team at its new U.S. headquarters in San Ramon, Calif.
“Amid the coronavirus crisis, consumer buying patterns are changing at lightning speed and forcing retailers to scramble to fulfill orders online and in store,” said Frost. “With the added pressure of global supply chain challenges and out of stocks, we see this as an ideal time to bring our proprietary store multichannel technology to the U.S.”
With grocery retailers under increasing pressure to reduce costs, increase sustainability efforts and be nimble in the changing marketplace, Impulse Logic offers an innovative suite of data-driven logistics management tools that enable retailers to seamlessly track product availability in store and online, minimize out of stocks, and provide better customer service. The AI- and ML-based solution reads in-store data from numerous tracking sources including POS every two seconds.
Retailers do not need to make any changes to their legacy systems when deploying Impulse Logic’s technology, which allows for the initial investment costs to be controlled. By simply accessing existing data streams, the technology can intelligently reallocate labor resources to increase revenue and operating profit.
Impulse Logic has entered into pilot projects with grocery retailers in Dubai and Saudi Arabia. The company is also in talks with a top U.K. grocery operator in the U.K. with return on investment expected to be achieved within just 90 days of implementation.
“Customer experience is king and the only way to achieve that is through efficient operations that ensure the right products are in the right place at the right time,” Frost added. “Our advanced predictive analytics create the optimal product flow through the store to optimize labor availability, ensure product availability, reduce waste and increase profits. Essentially, we are ensuring that the last 50 yards from warehouse to shop floor are optimized. This allows stores to better manage daily inventory to drive sales.”
As well as increasing sales through precise AI-driven logistics management, the company aims to help retailers achieve their sustainability goals with tools to reduce waste, particularly on fresh food items.