According to a recent announcement, Honeywell and Intel (News - Alert) are teaming up to develop new Internet of Things solutions for the retail industry that will enhance logistics, improve inventory visibility and make supply chains more efficient.
The Honeywell (News - Alert) and Intel collaboration, as described, will focus on developing solutions that improve operations for retail businesses by addressing challenges like profitability and a competitive environment where consumers are shifting to online shopping.
“To succeed in the e-commerce world, retailers need to invest in connected solutions and harness the power of the Internet of Things (IoT) to track inventory and gain insights into customer shopping habits,” said John Waldron, president and CEO, Safety and Productivity Solutions business, Honeywell. “The collaboration between Honeywell and Intel will provide a platform for future technology developments to leverage both firms' expertise in capturing and analyzing enterprise data. We look forward to working with Intel on industry-leading solutions this year.”
The Honeywell and Intel collaboration will focus on solutions that use the two companies' technology offerings, including sensors, handheld computers, processors, bar code scanners, RFID tags and readers and cloud-based software. The new solutions will be designed to help businesses track, monitor and assess the condition of goods moving through the supply chain and in brick-and-mortar stores.
“Technology can help transform retail, making stores more responsive to customer needs by connecting physical and digital retail environments,” said Joe Jensen, VP and GM, Retail Solutions Division, Intel. “By working with Honeywell, Intel plans to enable retailers to benefit from IoT solutions by having the visibility of real-time accuracy of on-shelf inventory. This will help delight shoppers with better inventory accuracy and in-store pickup of products ordered online.”
By working together, Honeywell and Intel seek to address a range of challenges that will force retailers to gain greater visibility into their in-store inventory to ensure items ordered online are available for in-store pickup and to enhance customer service.