Supermarket Perimeter - October 2022 - 62

TECHNOLOGY
As well as helping retailers
ARTIFICIAL
INTELLIGENCE
by Andy Nelson
EVEN IN INFLATIONARY
TIMES, commissaries,
supermarkets and other places
where food is made or sold are
increasingly turning to Artificial
Intelligence and Machine
Learning technologies to help
them streamline operations,
improve the customer
experience, reduce waste and
give their bottom lines a boost.
San Ramon, Calif.-based AI
and ML specialist Impulse Logic
delivers advanced predictive
analytics to create the optimal
product flow through a
retailer's store to optimize labor
availability, ensure product
availability, reduce waste, and
increase profits, said Matt Frost,
the company's CEO.
" By optimizing the journey
from warehouse to shop floor,
stores can improve the way they
manage their inventory to drive
sales, " Frost said. " Our innovative
AI and ML-based solution does
this by reading in-store data
every two seconds. "
That ensures that store
associates can make decisions
based on accurate insights and
ultimately deliver outstanding
customer service and satisfaction.
Impulse Logic's unique
technology is also easy to
deploy, Frost said. Retailers aren't
required to make any changes
to their legacy systems, helping
to control initial investment
costs. And, by simply accessing
existing data streams, Impulse
Logic is able to help retailers
intelligently reallocate labor
resources to increase revenue
and operating profit.
sell more, Impulse Logic aims
to help retailers reduce waste,
particularly on fresh food items.
By achieving precision inventory
management, the company
has helped retailers eliminate
more than 50% of waste losses.
For example, forecasting and
stock optimization are two of
the key benefits afforded by the
company's technology. Impulse
Logic uses smart algorithms
to determine the products
customers want, at different
periods of the day, week and
year, allowing for more accurate
forecasting and planning.
" The data can also be used to
increase efficiencies by ensuring
no excess merchandise is ordered
- or wasted, " Frost said. " We also
provide a completely accurate
picture of a retailer's inventory
and where it is held - whether
on the shop floor, or in the
stock room. "
Accurate inventory handling
can also help reduce the need
for costly markdowns on fresh
grocery products, he added.
In situations where
markdowns are unavoidable,
Impulse Logic's ML technology
is able to help stores calculate
the optimal price, protecting
the item's margin as it nears
expiration. Instead of simply
reducing products by percentage
increments, the company is
helping retailers determine the
best price based on several
key factors and existing retail
data points.
" When grocery retailers take
the action to use ML to improve
inventory handling, particularly
in fresh food departments, the
Artificial intelligence and machine
learning are revolutionizing how
food production and storage
facilities reduce waste and
streamline their operations.
benefits are two-fold, " Frost said.
" Availability is improved, meaning
customers find what they want
and when they need it, and
waste is reduced. This in further
protects margins and profits. "
62 - OCTOBER 2022
supermarketperimeter.com
The uptake is enabling
retailers to create highly accurate
forecasts previously unseen
in the sector. While the retail
industry may never entirely
remove waste - with an element
of spoilage expected in fresh
and perishable sectors - it can
dramatically reduce it.
As the technology improves
and retailers embrace an
intelligent future, powered by AI
and ML, further advancements
can be made. From saving time
and increasing the focus on
customer service to embracing
accurate sales forecasts, Frost
said, there is a multitude of
benefits readily available helping
to build a retail revolution where
high levels of waste are a thing of
the past.
" Despite the impact of inflation
and the cost of living, retailers
are more open than ever to
look at smart ways of working
and technologies that improve
the customer experience, drive
sales and introduce operational
cost savings, " Frost said. " We
believe that retailers investing
in technologies like AI and ML
are also investing in their value
proposition and differentiating
themselves from their
competitors. "
Looking to the future, the
growing recognition of the
benefits of ML - from optimizing
labor, ensuring product
availability, and reducing waste -
means the technology offers the
sector an increasingly attractive
proposition, Frost added.
And, as retailers embrace an
intelligent future, powered by
AI and ML, further advances
will follow.
" From embracing accurate
sales forecasts to increasing
the focus on customer service
the technology is here to help
to extend the digital retail
revolution. "
062_SP_1022_CI_AI.indd 62
9/30/2022 1:37:47 PM
IMPULSE LOGIC
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Supermarket Perimeter - October 2022

Table of Contents for the Digital Edition of Supermarket Perimeter - October 2022

Supermarket Perimeter - October 2022 - Intro
Supermarket Perimeter - October 2022 - FCa
Supermarket Perimeter - October 2022 - FCb
Supermarket Perimeter - October 2022 - 1
Supermarket Perimeter - October 2022 - 2
Supermarket Perimeter - October 2022 - 3
Supermarket Perimeter - October 2022 - 4
Supermarket Perimeter - October 2022 - 5
Supermarket Perimeter - October 2022 - 6
Supermarket Perimeter - October 2022 - 7
Supermarket Perimeter - October 2022 - 8
Supermarket Perimeter - October 2022 - 9
Supermarket Perimeter - October 2022 - 10
Supermarket Perimeter - October 2022 - 11
Supermarket Perimeter - October 2022 - 12
Supermarket Perimeter - October 2022 - 13
Supermarket Perimeter - October 2022 - 14
Supermarket Perimeter - October 2022 - 15
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