Retail shrink decreased by 35%.
The client is a medium-sized retail company in Europe. With strict lockdowns becoming the new normal and the cutthroat competition between retailers, they decided to develop an E-commerce platform and provide their customers with an online ordering and delivery option.
Some years ago, the InData Labs team developed a custom solution for the client. The face recognition module helped thwart fraud and shoplifting threats. As a result, they reduced internal shrinkage and prevented crimes from occuring.
This time they needed full-cycle web development and a predictive analytics-based module for inventory management.
The retail company has seen sales decline since the pandemic broke out. With the uncertainty lingering around the future of retail, they decided to move their brick-and-mortar store online. So they contacted InData Labs for full-cycle software development services.
They also needed a solution to prevent overstock and stock selling out. We suggested building a predictive analytics module to address this problem.
We offered our full-cycle web application development services to help the client bring their store online.
The main goal was to build a solid website for customers to browse and buy products with ease ensuring great customer experience. So we built an E-commerce platform that is high-functioning and user-friendly. All the users are authorized and have personal accounts. They can search for items online. If necessary, they can fill in the questionnaire about the needed items. As soon as it appears in the stock, they’ll be notified.
We developed a predictive analytics module to forecast inventory needs. Using the solution, the client can navigate supply chain needs and reduce costs. The solution derives insights from data on the seasonal demand for particular goods, sales history, competitor-based pricing, etс. This improves planning and setting item restock levels.
The InData Labs’ team has helped the retail company establish their online presence and make their brand visible through full-cycle web app development. The website we developed is robust, powerful, and user-centric. The predictive analytics module for item demand forecasting and price optimization enables better inventory management and cost cutting for the client.
Key Benefits from the collaboration with InData Labs: