Wiliot Showcases the Future of Retail, Running on Ambient IoT, at NRF 2024
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Insights
The integration of Wiliot's ambient IoT technology into the retail sector represents a significant advancement in supply chain management. This technology enables retailers to achieve real-time tracking of products throughout the entire supply chain, which can lead to improved inventory management and a reduction in costs associated with overstocking or stockouts. The potential for optimizing staffing and enhancing the shopping experience, particularly through the BOPIS sales model, could increase operational efficiency and customer satisfaction, potentially leading to higher sales and customer loyalty.
Moreover, the application of IoT Pixels to a vast range of products, including perishable goods like fruits and vegetables, opens up new possibilities for data analytics and market intelligence. By understanding product movement and consumer behavior in greater detail, retailers can make more informed decisions, tailoring their marketing and sales strategies to meet consumer demands more effectively. This level of granularity in data could also contribute to a more sustainable retail environment by reducing waste and improving the overall environmental footprint of retail operations.
Wiliot's recent accolades, such as being named in TIME's Best Inventions and Fast Company's Next Big Things in Tech, suggest a positive market reception to their IoT technology, which may have favorable implications for the company's financial performance. As retailers adopt this technology, Wiliot could see an increase in demand for their IoT Pixels and Visibility Platform, potentially leading to revenue growth. The scalability of attaching IoT Pixels to low-cost items could result in a significant expansion of Wiliot's addressable market.
Investors should monitor the adoption rate of Wiliot's technology among retailers, as well as the operational improvements it brings. These factors could be indicative of the company's future earnings potential. However, investors should also consider the capital expenditures required for retailers to implement such IoT solutions and the competitive landscape, as other companies may offer similar technologies.
Wiliot's ambient IoT technology could be a game-changer in supply chain transparency. The ability to track items at a granular level from production to consumer hands offers unprecedented supply chain visibility. This can lead to better forecasting and demand planning, reducing the bullwhip effect where small fluctuations in demand at the retail level cause progressively larger fluctuations up the supply chain.
Additionally, this technology may help in combating issues such as counterfeit goods and ensuring product authenticity, as each item can be tracked individually. In terms of risk management, having such detailed tracking capabilities could mitigate the impact of supply chain disruptions by allowing for more agile responses to issues like recalls or shipping delays. Over the long term, this technology could set a new standard for supply chain management, prompting companies that lag in adoption to modernize their operations or risk falling behind competitively.
The company will demonstrate what the biggest names in retail have already realized — that Wiliot's ambient IoT technology illuminates once-dark parts of the supply chain, offering real-time, end-to-end visibility of products from warehouse to store to home.
"Wiliot's customers, which include some of the biggest names in retail, are leveraging our platform to optimize staffing, improve the shopping experience, reduce waste, and drive-up sales," said Roee Zeiler, Wiliot's Chief Financial & Revenue Officer. "It provides retailers with complete visibility of all products in their supply chains and stores – which is the foundation for better retail operations, from real-time inventory management to increasingly popular buy-online-pickup-in-store (BOPIS) sales models. This real-time, end-to-end visibility of all products everywhere represents the biggest disruption in retail since the price tag."
Wiliot's ambient IoT Visibility Platform, recently named one of TIME's Best Inventions of 2023 and Fast Company's 2023 Next Big Things in Tech, connects the digital and physical worlds through the company's IoT Pixels, which are stamp-sized, self-powered compute devices that cost pennies.
These IoT Pixels can attach to any "thing" and connect it to the internet. Not just expensive things like cars, appliances, and shipping containers, but also the things like fruits, veggies, vaccine vials, clothes, crates, and just about everything else.
Once connected, products transmit real-time, item and case-level information about their location, temperature, humidity, and even carbon footprint, giving retailers the data they need to improve supply chain performance, ensure product safety, and optimize staff time.
"The market for ambient IoT solutions in retail is indeed exploding as more and more companies realize the benefits of total visibility," said Dominique Bonte, Vice President, Verticals/End Markets, ABI Research. "We are transitioning from billions of items that are manually scanned or seen once at a choke point, to an addressable market of trillions of things that can be sensed continuously, end-to-end, without manual scanning."
Ambient IoT in Action at NRF 2024
During NRF 2024, Wiliot will demonstrate ambient IoT in action, tracking products in transit, throughout a warehouse, and within a retail store, showing in each scenario how the data generated yields a host of important benefits. Wiliot's NRF demonstrations will showcase three critical uses that are now scalable thanks to ambient IoT:
- Real-time monitoring of items in transit. Through truck-based IoT gateways and an integrated telematics system, attendees will see how the Wiliot Visibility Platform senses products at a case level as they move through the supply chain. The capability is currently being rolled out by a major
U.S. retailer, eliminating misloads, mistaken deliveries, and pervasive handling issues caused by case-level temperature fluctuations. Telematics solution provider: IoT services company Montage Connect. - Real-time location of items in a store. Wiliot's item-level location tracking unlocks a wealth of retail intelligence. NRF 2024 attendees will see how the Wiliot Visibility Platform is reinventing inventory management and store design because staff know exactly what's in-store and where, freeing them to engage with customers in new ways. Avery Dennison's atma.io connected product cloud platform unlocks the power of connected products by assigning unique digital IDs to every item, providing end-to-end traceability.
- No-labor compliance with food safety regulations. Wiliot's Visibility Platform automatically generates the traceability data required to meet reporting requirements of Rule 204 of the Food Safety Modernization Act (FSMA), which goes into effect January 2026. At NRF 2024, Wiliot will demonstrate the platform's ability to capture Critical Tracking Event data (such as accurate receiving events) and support total supply chain and cold chain visibility through digital product passports (DPP) and the company's AI-based Living Web browser, developed in conjunction with iFoodDS and IBM Food Trust.
No-labor inventory sensing enabled by ambient IoT represents a paradigm shift away from current RFID scanning processes. Although it's not a replacement for retail labor, its automation enables vastly superior efficiency and accuracy, allowing retailers and supply chain partners to redeploy valuable workers in business-enhancing roles.
Wiliot Develops an Ambient IoT Ecosystem
Working with the biggest names in retail and collaborating with leading enterprise software companies, Wiliot has developed the integration ecosystem necessary to deliver turnkey ambient IoT solutions for retailers. For example, Wiliot's enterprise application integration with Montage Connect pulls together Wiliot Visibility Platform data, information from delivery trucks, heat maps from temperature sensors, and other logistics data into a dashboard view of the supply chain. And its open-sourced Living Web mobile Augmented Reality (AR) browser app represents one of the first enterprise integrations of a digital product passport.
With Living Web, consumers can sense nearby inventory without labor intensive scanning using their smartphones and Wiliot IoT Pixels affixed to retail products, and pull up detailed information about their origins, composition, temperature in transit, carbon footprint, and more, collected across various systems. This is an increasingly important application of Wiliot's Visibility Platform, especially considering the European Union's Strategy for Sustainable and Circular Textiles, which requires products sold in the EU to carry Digital Product Passports by 2030.
"This is the hockey-stick moment for ambient IoT and the breadth of ambient IoT applications shows the depth of our innovation," Zeiler concluded. "Having arrived in the retail market in 2023, ambient IoT is now positioned for exponential growth in 2024, thanks to technological advancement; manufacturing scale; large, live deployments; and successful integration with a growing ecosystem of enterprise apps. Retailers need ambient IoT, and ambient IoT is here now."
For more information about Wiliot, visit www.wiliot.com. For a complete NRF 2024 media kit, including digital imagery, click here.
About Wiliot
Wiliot is an ambient IoT data carrier platform company. Our Visibility Platform connects the digital and physical worlds using IoT Pixels, battery-free smart tags that push data to the cloud in real-time without human intervention. Our platform exists within a fast-growing ambient IoT ecosystem. We have partners in that ecosystem that provide applications, tags, and edge devices.
Ambient IoT is an evolution of legacy IoT and RFID technologies with lower costs, end-to-end privacy and security, and the addition of new intelligence and sensing capabilities. It's on a path to scaling to trillions thanks to telecommunications standards – Bluetooth, 5G Advanced, and 802.11 AMP.
Our mission is to make every single thing an agent of change, enabling ambient IoT by adding intelligence and automation to food, apparel, packaging, pharmaceuticals, and other products.
Connecting new categories of things through AI and the internet is transforming manufacturing, distribution, and product use to deliver on our vision: a minimum waste, full trust, perfectly timed world where people, profits, and the planet are aligned.
Visit www.wiliot.com to learn more.
About Montage Connect
Montage Connect is a leader in the IoT intelligent connectivity solutions industry. The company provides an entire edge-to-cloud, IoT ecosystem, including gateway devices, sensors, connectivity and visually programmable alerting and analytics dashboards.
The Montage Ambient IoT infrastructure is a single universal gateway device which manages the Ambient IoT environment. Optimized for all mobile and fixed environments, the solution controls the power distribution, IoT Pixel sensor reading, connectivity, cloud reporting, additional environmental sensor and control system interfacing.
The Montage Connect hyper-scalable SaaS cloud infrastructure expands visualization, anomaly detection, business process automation and optimization features across any industrial environment.
Visit www.montage-connect.com to learn more.
About iFoodDS
iFoodDS offers connected traceability, quality, and food safety solutions, making it easier to deliver wholesome, fresh, high-quality food products to consumers. iFoodDS solutions help food companies gain visibility and insight into their supply chains, transform inspection processes, reduce food waste, and optimize inventory quality. Its consulting subsidiary, New Era Partners, helps enterprises navigate the complexities of FDA's Food Traceability Rule, FSMA 204, to smooth the path to compliance.
Learn more about the FSMA 204 compliance solution by visiting www.ifoodds.com.
About Avery Dennison
Avery Dennison Corporation (NYSE: AVY) is a global materials science and digital identification solutions company that provides branding and information labeling solutions, including pressure-sensitive materials, radio-frequency identification (RFID) inlays and tags, and a variety of converted products and solutions. The company designs and manufactures a wide range of labeling and functional materials that enhance branded packaging, carry or display information that connects the physical and the digital, and improve customers' product performance. The company serves an array of industries worldwide, including home and personal care, apparel, e-commerce, logistics, food and grocery, pharmaceuticals and automotive. The company employs approximately 36,000 employees in more than 50 countries. Reported sales in 2022 were
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SOURCE Wiliot
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