In today’s fast-paced world, FMCG (Fast-Moving Consumer Goods) companies are constantly seeking innovative solutions to enhance their operations and gain a competitive edge. One such groundbreaking technology that these companies have embraced is computer vision.
By leveraging computer vision, FMCG companies can streamline processes, improve accuracy, monitor the competitive environment, optimize planograms, and revolutionize their merchandising strategies.
In this article, we will explore why FMCG companies adopt computer vision, the challenges faced during implementation, and how Goods Checker, a leading computer vision solution, addresses these challenges.
Furthermore, we will examine real-world case studies highlighting the significant benefits that businesses can achieve by incorporating Goods Checker into their operations.
Table of Сontents
Why Do FMCG Companies Adopt Computer Vision?
Computer vision offers a variety of benefits for FMCG companies worldwide; however, they must know how these systems can assist their business-related goals. Following are some of the main benefits that businesses need to keep in mind:
Automation and Process Acceleration
FMCG companies deal with various tasks that can be automated using computer vision technology. Shelf auditing, inventory management, and product recognition are prime examples. Computer vision systems can swiftly analyze shelves, identify products, and streamline these labor-intensive processes, leading to significant time and cost savings.
Accuracy and Reliability
Human errors are a common occurrence in manual tasks. However, computer vision systems offer unmatched accuracy and reliability, eliminating human fallibility. By leveraging Goods Checker’s advanced technology, FMCG companies can obtain precise and consistent data, ensuring better decision-making and minimizing costly mistakes.
Competitive Environment Monitoring
In today’s competitive market, staying abreast of competitor activities and tracking shelf share are crucial for FMCG companies. Computer vision allows for real-time monitoring of the competitive landscape, enabling businesses to respond quickly to market changes, optimize their product offerings, and gain a competitive advantage.
Optimization of Planograms and Merchandising Strategies
Planograms and merchandising strategies are vital in maximizing sales and customer engagement. Computer vision empowers FMCG companies to optimize planograms by analyzing sales data, improving product placement, and enhancing overall merchandising strategies.
Challenges Faced by Companies During Implementation and How Goods Checker Addresses Them
Despite so many tools and options available on the website, companies still face some challenges while implementing these systems. Following are some of the main problems and also how Goods Checker can help address them.
Economic Problems
Implementing computer vision solutions and purchasing equipment can indeed be costly for FMCG companies. However, Goods Checker recognizes this challenge and offers a flexible payment model that significantly reduces initial investment costs.
This approach allows businesses of all sizes to access the benefits of computer vision without the burden of high upfront expenses. By leveraging Goods Checker’s platform, companies can utilize their existing resources, such as average Android smartphones and web browsers, to perform the necessary tasks, eliminating the need for expensive equipment purchases.
Moreover, the cost-effective nature of Goods Checker extends beyond equipment. The solution optimizes operational efficiency, reducing the need for excessive labor costs and manual interventions.
By automating processes like shelf auditing, inventory management, and product recognition, Goods Checker enables FMCG companies to save both time and money. With the ability to perform these tasks accurately and swiftly, businesses can redirect their resources toward other critical areas, such as product innovation and customer engagement.
Technical Problems
Integrating computer vision solutions with an existing IT infrastructure can present complex challenges for FMCG companies. Recognizing this, Goods Checker has developed a streamlined solution to simplify the integration process.
By providing an API (Application Programming Interface), Goods Checker enables seamless integration with the company’s existing systems, reducing the complexities associated with compatibility and data sharing.
Being a cloud-based solution, Goods Checker eliminates the need for extensive modifications on the client side. This means that FMCG companies can leverage the power of computer vision without the hassle of overhauling their IT infrastructure.
The cloud-based approach allows for easy scalability, ensuring businesses can adapt to changing demands and expand operations without experiencing technical constraints. With Goods Checker, FMCG companies can seamlessly integrate computer vision into their existing processes, driving efficiency and accuracy across the board.
Management Problems
Adopting new technologies often necessitates changes in business processes, which can be met with resistance from employees and stakeholders. However, Goods Checker understands the importance of a smooth transition and offers features to address management challenges effectively.
By automating tasks through Goods Checker, FMCG companies can reduce the time merchandisers require for routine activities. This automation allows employees to focus on higher-value tasks that require human expertise, such as :
- Optimizing planograms
- Devising strategic merchandising plans
- Analyzing data insights
With Goods Checker’s user-friendly interface and intuitive design, employees can quickly adapt to the platform, minimizing any potential resistance to new technologies.
Goods Checker also provides accurate data for tracking key performance indicators (KPIs), enabling management to monitor and evaluate the effectiveness of their merchandising strategies. Real-time access to data-driven insights allows decision-makers to make informed choices, optimize operations, and drive continuous improvement.
Furthermore, Goods Checker offers pilot projects to help companies assess the suitability of the solution for their specific needs. This approach allows businesses to evaluate the benefits and capabilities of Goods Checker before committing to a full-scale implementation, ensuring a smooth and successful adoption process.
How Businesses Benefit from Goods Checker
Goods Checkers offer some of the best features for businesses. Here’s a comprehensive breakdown of these features in real-life applications for specific merchandisers.
Case 1 Monitoring Merchandiser Performance and Equipment Utilization
A cigarette manufacturer with over 100 merchandisers, 226 SKUs (including competitors), and 5000 points of sale used Goods Checker to revolutionize their operations. With over 70,000 photos analyzed monthly, Goods Checker achieved above 95% recognition accuracy.
The manufacturer experienced immediate product recognition for new launches, increased photo analysis from 3% to 100%, and improved planogram compliance from 60% to 90%.
Case 2 Accelerating Retail Outlet Audits and Obtaining Accurate Shelf Data
A merchandising agency with 62 non-food SKUs, 4500+ points of sale, and 200+ daily photos leveraged Goods Checker to accelerate retail audits and gather precise shelf analytics. Within just two weeks of usage, Goods Checker achieved a recognition accuracy 95%+.
As a result, the agency’s employees conducted audits 60% faster, providing clients with reliable shelf analytics, and analyzed 100% of the photos, enhancing overall business efficiency.
Computer Vision Enhancing Business Processes and Efficiency
By adopting Goods Checker’s computer vision solution, FMCG companies can streamline operations, minimize errors, optimize merchandising strategies, and gain a competitive advantage.
Incorporating computer vision technology empowers businesses to make data-driven decisions, enhance customer experiences, and achieve substantial growth in today’s dynamic market.
Computer vision is a game-changing technology transforming FMCG companies’ operations, delivering automation, accuracy, and competitive insights. Goods Checker, with its advanced computer vision capabilities, addresses the challenges faced during implementation and substantially benefits businesses.
From optimizing planograms to monitoring merchandiser performance, Goods Checker revolutionizes the way FMCG companies operate, paving the way for increased efficiency, improved sales, and sustained growth in the highly competitive FMCG sector. Embracing computer vision is no longer an option but a necessity for FMCG companies to thrive in the digital era.
