LONDON, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Dropit, a retail technology company that layers AI into existing fulfillment systems for a smarter retail ecosystem, today announced Advanced Fulfillment, an AI-powered solution that uses real-time information to help retailers make dynamic fulfillment decisions. The solution uses a variety of data inputs, including proximity, real-time inventory, past sales, peak shopping hours and weather to inform more intelligent order allocation decisions, ultimately saving time, money and waste.
Traditionally, retailers have a limited scope of visibility into real-time inventory across various channels and locations, leading to inefficient sourcing decisions that result in dead stock, out-of-stock, and lost sales. At the same time, retail giants including Walmart and Amazon have raised the bar and set high customer expectations thanks to fast and intuitive shopping experiences — 90% of U.S. online shoppers expect free two- to three-day shipping.
Dropit's Advanced Fulfillment solution empowers retailers to remain competitive by making intelligent fulfillment decisions with data-driven precision to overcome these challenges while minimizing stock issues and expediting fulfillment.
"Our Advanced Fulfillment solution is like having a team of data scientists on hand around the clock, instantly fine-tuning fulfillment choices for peak efficiency," said Karin Cabili, CEO and founder of Dropit. "This comprehensive, data-driven approach reduces delivery times and costs while increasing customer satisfaction and profitability for retailers. It also helps retailers connect their often-disparate silos to maximize the technology investments they’ve already made."
Dropit Advanced Fulfillment Boosts Intelligent Decision-Making
By connecting real-time data across channels, Advanced Fulfillment creates a consolidated inventory view that informs smarter decisions, minimizes errors and mitigates stock-related challenges. Retailers can leverage Advanced Fulfillment to:
- Unify inventory visibility: Connect real-time data across channels to establish a consolidated inventory view to inform smarter decisions and minimize fulfillment errors.
- Prevent stock issues: Use real-time data to make informed decisions that reduce the risk of stock-related issues such as overstock and out-of-stock scenarios.
- Streamline store fulfillment: Improve store fulfillment with efficient, real-time allocation and routing improvements using internal and external data.
- Simplify returns management: Streamline returns by routing them to the optimal location, which helps avoid markdowns and reduces logistics expenses.
- Reduce operational costs: Automate rules-based decision-making to reduce logistical expenses and diminish dead stock, improving overall operational efficiency.
- Grow profitability: Enhance inventory management and minimize fulfillment errors to seize sales opportunities and reduce unnecessary markdowns, improving revenue and profitability.
- Increase customer satisfaction: Make order fulfillment more efficient so customers receive products promptly, creating a better customer experience that leads to heightened satisfaction and a positive brand experience.
- Reduce environmental impact: Cut transportation emissions and inventory waste by considering proximity and shipping times with eco-friendly distribution and return routes.
Advanced Fulfillment is available now. To learn more, please visit Advanced Fulfillment product page or email sales@dropitshopping.com.
About Dropit
Dropit is a pioneering technology company revolutionizing the retail landscape with AI-powered optimizations for fulfillment, inventory and more. Originating on London's High Street, Dropit empowers top brands with enhanced omnichannel capabilities. The company's retail technology platform seamlessly integrates with any tech stack, optimizing operations and service quality. Committed to sustainability, Dropit's AI-driven solutions help retailers right-size inventory and reduce environmental impact to create a smarter, greener retail ecosystem. For more information about Dropit and its transformative AI-driven solutions for retail, visit www.dropit.shop.
Contact:
BOCA Communications for Dropit
dropit@bocacommunications.com
