Over the last several years, the inventory accounting (IA) industry has faced increasing pressure to remain competitive in what looks to be a shrinking market. Intense competition for resources as well as an ever-increasing consumer shift, from brick-and-mortar stores, to online marketplaces, continues to drive profit margins ever thinner.
In response, industry leaders have looked to scanning devices (guns) with faster processors and more incentive based compensation structures. These initiatives have indeed shown marginal improvements, though nothing has allowed anyone to separate from the pack. Further, the problem only worsens as margins continue to thin. Companies are forced to hire less experienced / less expensive counters, making it increasingly difficult to manage events to profitability.
Unfortunately, these pressures are unavoidable realities of the modern world. All industries face similar challenges. The companies who survive, and indeed thrive, despite their hurdles, are the ones who dare to adapt. They are willing to lead the way in shaping the evolution of their industry, thereby ensuring they will continue to play a vital role in that new world order.
In order to address the issues posed by this evolving marketplace, it is necessary to examine some of the industry practices that are exacerbating the impacts of those challenges.
Limited Capacity of Human Resources
Use cutting edge technology and process design to extend the capabilities of the current workforce.
Our patent pending, hands-free scanning solution combines augmented reality with voice to text inputs to revolutionize how the world counts and maintains physical inventory. To put the power of this solution into perspective, initial field testing has shown that our hands-free solution produces efficiency benefits of 2x - 2.5x over traditional hand-held devices. Call us today to learn more.