Zebra: Retailers use automation to reach these goals
Retailers are increasingly leveraging automated solutions to enhance performance in key business areas.
"Elevating Retail Value: The Impact of Intelligent Operations," a new survey of 400 global retail decision-makers from Zebra Technologies and Oxford Economics, reveals that respondents are prioritizing customer service and inventory accuracy over the next three years.
When asked to select three business goals as their top priorities for the next three years, respondents most frequently included:
- Improve customer experience and satisfaction: 47%
- Improve inventory accuracy and management: 39%
- Improve product or service quality: 39%
- Improve operational efficiency and productivity: 39%
- Enhance supply chain visibility: 31%
The survey also asked respondents whether meaningful improvements have been achieved during the past two years in several key enterprise workflow areas. Responses included:
- Inventory management: Meaningful improvements have been achieved over the past two years (73%). Improvements are necessary but we have not made meaningful achievements in the past two years (27%).
- POS/ checkout: Meaningful improvements (67%). Necessary but not made (23%).
- Associate management and task execution: Meaningful improvements (46%). Necessary but not made (54%).
- Order fulfillment/omnichannel integration: Meaningful improvements (37%). Necessary but not made (54%). Not applicable (6%).
- Loss prevention: Meaningful improvements (31%). Necessary but not made (69%). Not applicable (1% - total more than 100% due to rounding).
[READ MORE: Survey: Automation helps warehouse retention]
Respondents that have achieved meaningful changes over the last two years are most likely to note increased inventory accuracy (68%), reduced time spent on inventory management (47%), and improved forecast accuracy (44%).
The data also shows respondents that improved inventory management reported, on average, 1.8-percentage-point higher revenue growth and 1.5-percentage-point higher profitability over the last year compared to those that did not make meaningful improvements in this area.
Respondents relied on a range of technologies to optimize inventory management, but mobile computers, predictive analytics software, and RFID readers stood out as the most important.
Loss prevention is identified as a major concern for about two-thirds of respondents, most of whom are looking for ways to reduce shrink, waste and loss (64%), minimize fraud (50%), improve customer experience (40%), and expand their view of product loss (37%).
To improve loss prevention, respondents say they would benefit most from integrating technologies like smart shelving and sensors, RFID readers, and AI — a far more popular option today compared to two years ago.
Respondents that improved loss prevention reported, on average, 1.2-percentage-point higher revenue growth over the last year compared to those that did not make meaningful improvements in this area.
These retailers invested in technologies such as smart shelving and sensors, RFID sensors and tags, and POS and analytics, achieving a variety of positive outcomes. For instance, 57% of retailers that improved their loss prevention workflows say they reduced shrink, waste, and loss; 43% minimized fraud; 33% improved the associate experience; and 24% expanded their view of product loss.
Other findings
- 69% of respondents IT budgets are allocated to devices, software, and other technologies used to automate workflows.
- There is a 21% average increase in customer satisfaction for respondents implementing workflow improvements.
