Before and after: A traditional bin system, left, is converted to organized covered bins containing bagged ShelfAware inventory, right.
The concept was already familiar. We had already embraced the IIoT for our own operation, developing a smart counting scale and mobile app to further automate our shipping process. The IIoT presented new opportunities in inventory management using the latest technology to make our inventory intelligent.
In our case, the intelligent inventory is consumables: O-rings and a wide range of other sealing products, such as engineered plastics and custom-molded rubber. The key concept was how to make the consumable inventory smart, thereby allowing us to remotely collect endless data points that drive automated analytics for each inventory item.
This led to another key concept that builds the foundation for intelligent inventory management—Big Data. Big Data is the collection of extremely large data sets that can be analyzed computationally to reveal patterns, trends, and associations. As we collect Big Data on each inventory item, we apply a host of inventory analytics that were developed in-house over the last several years to automate the replenishment of our own supply chain.
How It’s Going
We launched our patent-pending ShelfAware inventory management system after more than two years of development. ShelfAware is built on a solid foundation of the IIoT, Big Data, and automated analytics to make inventory intelligent. OEMs of any size, from any industry, located anywhere in the world, can now leverage their purchased inventory. Because of the IIoT, geography and physical locations no longer need to be considered when selecting a vendor to run a managed inventory system. All ShelfAware requires is a single power outlet and access to the internet.
ShelfAware easily installs in just one day and requires little integration into the OEM’s IT systems. The daily processes required by the OEM to run ShelfAware are minimal by design. Production workers simply walk in, pick what they need, swipe it over the checkout station, and go back to work.
We compare the process to Amazon’s GO retail platform. With a pilot store recently launched in Seattle, Amazon caused a stir with its autonomous grocery-store concept for the retail marketplace. ShelfAware uses similar technology to deploy an industrial convenience store on the factory floor.