WiseShelf transforms existing shelves into a dynamic inventory management solution for retailers. Using low cost hardware and a sophisticated software, WiseShelf helps stores to manage inventory and fulfill online orders.
The Problem: ‘Out of stock’ (OOS) situations cost retailers $550 billion in lost sales annually. OOS leads to 4% in loss of sales. In 1/3 of OOS situations, the product is in the store but not on the shelf.
The Solution: The WiseShelf system prevents ‘out of stock’ situations by alerting when stock level gets low or critical.
The Technology: Installed on the store shelf, the WishShelf is equipped with dozens of light sensors that detect the light level above them and send data through Wifi to the management application. A row of colorful LED lights on the front of the shelf creates a visual on-shelf presentation of the planogram. The WiseShelf system analyzes the data that has been collected from the shelves and produces business insights. Comprehensive analytic reports such as response time, cost of out of stock, stock demand forecasting and facing compliance are available on the mobile app.
CEO: Shalom Nakdimon
Quote from Rachel Feinman: “WiseShelf is another Nielsen Innovate company in the retail industry we are bringing to Tampa. They have great traction in Israel and the UK and we hope to help them with traction in the US.”
Quote from CEO: “WiseShelf is happy to join FIBA . We look forward to collaborating with the FIBA team in aspects of business development and adaptation of the business model to the US market. We also want our Florida customers to feel we are local.”
Number of employees: 8