Deloitte and Verizon are the latest technology companies to partner on new solution for the retail industry. Combining the 5G and mobile edge computing (MEC) platform experience of Verizon with Deloitte’s retail background, the new offering is designed to make real-time data accessible for in-store teams so that store operations can be streamlined.
The e-commerce boom has seen an explosion of new technology solutions, to help retailers better serve their online customers. But the brick-and-mortar experience can also benefit from improved access to data and the support of a digital infrastructure. Verizon and Deloitte’s new platform is designed to work within stores, warehouses, distribution centers and other physical retail locations, to give greater insight into the activities happening on the ground.
“The opportunity for 5G and MEC to enable frictionless retail experiences and improve asset productivity should have a seismic impact on the retail industry,” said Anthony Stephan, principal at Deloitte Consulting LLP and US Consulting consumer industry lead.
Through the platform’s real-time actionable intelligence, retailers can gain deeper visibility into their on-shelf inventory. When items run out-of-stock, the platform generates refill notifications and alerts the store associates, so that they can respond quickly to depleted stock and ensure no consumer is left waiting. The alert system also eliminates the need for redundant stock checks, freeing up employees to focus on other tasks like customer service.
Verizon and Deloitte have also built in a number of technologies such as video camera and sensor-based analytics, artificial intelligence (AI), and augmented reality (AR). These tools work together to produce a more comprehensive view of the customer, so that retailers can make more informed strategic decisions.
“We are entering a new era of technology-led disruption at the exact same moment every retailer is looking to accelerate digital transformation, increase productivity and improve customer experiences,” said Tami Erwin, CEO at Verizon Business. “We’re ready to open the doors to Verizon’s transformative 5G and mobile edge compute platform and look forward to helping our customers reimagine everything from their employee experience and supply chain to end-customer use cases.”
As part of the new partnership, Verizon and Deloitte have also worked with SAP to ensure that the platform integrates with SAP’s software suite, including SAP Customer Activity Repository and SAP S/4HANA. This will make it easier for existing customers of SAP to synchronize their software programs.