Prime focus areas for Retail IOT include supply chain, connected consumer and smart-store applications. Real time inventory management using RFID tags and predictive maintenance of equipment helps in detecting critical issues and corrective actions are taken on time. With fleet management through GPS, retailers are able to track and locate their goods, thus helping in the logistics solutions and supply chain.
Technosphere has several IOT applications that could provide the above benefits for the Retail IOT sector, some of which include –
- Streamlining supply chain operations
- Smart shopping functionality
- Smart product life cycle management
- Near Field Communication (NFC) payment features
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