The etailer is working on a new point-of-sale solution for non-Amazon merchants with features like contactless enablement, customer analytics, and inventory management.

Manually managing inventory and merchandising meant that they struggled to maintain control over inventory management and product listings across multiple channels, leading to overselling, lost sales and disappointed customers.

It also has an app management feature that lets merchants upload and access third-party business apps for things like inventory management, loyalty programs, and returns. Why it’s worth watching: mPOS tech offers distinct advantages for both small and large businesses compared with traditional POS terminals. Small merchants get a cost-effective digital payment and business management tool.

Most payfacs also offer back-office support such as invoicing and billing, inventory management, and purchasing software. For example, in addition to its payment processing solution, Square offers an integrated POS system, an inventory management tool, and an on-demand delivery platform.

Retail stores are going to load up on new technologies such as smart shelves, RFID sensors, and cameras for inventory management and supply chain management. Doing so will place networks under more stress than ever, because of the increasing volume of data being generated.

Robots in retail stores perform a range of functions, including cleaning, stocking, inventory monitoring and management, and product transport. These systems are limited to larger retail operators with the capital and resources to invest in these projects, which have require high upfront investment to realize larger long-term gains.

Capabilities include the creation and design of web storefronts, managing product catalogs, support for inventory management, shopping cart and check-out capabilities, and customer account and data analytics. A digital commerce platform can support APIs and connect to third-party apps through a self-service portal.

The partnerships ecosystem extends beyond the integration with social media platforms to other points of the shopping journey, from retargeting to inventory management to buy now, pay later (BNPL) services from Affirm, all with the purpose of reducing customer friction points in an easy-to-use way for merchants. All of these help solidify Shopify’s place in the digital ecommerce platform market.

But other applications were also ranked as important, including enhancing wireless device connectivity and tracking/collecting data for inventory management. The following sections will explore some of the major applications of 5G. Rich Media. The faster throughput of 5G—and future improvements in latency—will allow new types of media.

Square has been rapidly launching new merchant services tools, including enhanced developer offerings and inventory management tools, to tighten seller relationships during the pandemic.

As Amazon’s online business took off, it realized that fulfillment—not only shipping but also returns, warehousing, and inventory management—was an integral part of its retail operations.

Inventory Management. Supply chain troubles have heightened risk for sellers heading into Prime Day. Volatile demand during the pandemic has made inventory forecasting more difficult, with sellers trying to balance proper inventory levels to avoid out-of-stocks with their need for cash and working capital.

Shop-and-go experiences that leverage computer vision, Lidar, and other technologies for inventory management and customer identification should become more commonplace. We forecast that US mobile payment volume will rise from $705.28 billion in 2019 to $2.541 trillion in 2025 across mcommerce, proximity mobile payments, and mobile peer-to-peer (P2P) payments.

Store operations like inventory management and fulfillment will be bolstered by investments in store data/analytics and internet of things (IoT) systems, including computer vision systems. According to a January 2020 Splunk survey, 21% of retail IT and business managers worldwide said 5G services were currently in use by their organization.

If inventory hoarding continues (which seems likely), it’ll only intensify the imbalance between demand and supply—which could even result in overproduction. When companies produce more than the market can take, this results in bloated inventory, increased storage costs, work stoppage, plant closings, and the loss of jobs.