3 minute read
Vision-based technologies
from SPN March 2022
by spnews.com
Supply-chain Sleuths Revolutionary
vision-based technologies
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Vimaan, a computer vision company for warehouse inventory management, has emerged from stealth to announce its solutions to the warehousing and logistics industry, along with $25 million in seed and Series A financing from top investors New Enterprise Associates (NEA), Wing VC and Neotribe Ventures.
Headquartered in Silicon Valley, Vimaan states its solution automates and digitizes inventory capture, tracking and management across the warehouse, including receiving, put-away and picking, storage and pack and ship. “The process of collecting inventory data is a major bottleneck within warehouse management. While there have been some technological advancements in robotics and warehouse automation over the past decade, the Vimaan platform is the first of its kind to offer wall to wall coverage of warehouse inventory,” stated S. K. (“KG”) Ganapathi, Founder and CEO of Vimaan.
“Warehouse managers constantly face competing objectives of keeping inventory tracking labor costs low while simultaneously keeping inventory accuracy high. Vimaan has worked hand in hand with our blue-chip customers to design solutions that strike at the heart of data tracking challenges in the warehouse. The Vimaan platform enables a warehouse manager to realize 100% inventory accuracy and visibility with minimal labour oversight. This in turn results not only in labour savings, but also in reduced inventory wastage, fewer claims and chargebacks, reduced reverse logistics costs and overall improvement in quality.”
Multi-faceted capabilities
The Vimaan platform comprises computer vision-based technologies—including cameras, a sensor suite and computer vision algorithms—to “see”, interpret, and digitally reconstruct inventory according to the warehouse’s requirements, the company explained. The solution is simultaneously capable of barcode and RFID reading. The data is presented to the customer in a software application that directly interfaces with the customer’s WMS and provides actionable insights.
For the past 24 months, Vimaan has been working with leading 3PLs and brand owners to perfect its inventory tracking solutions, the company added. These customers, who are in full production with Vimaan solutions, have realised significant benefits in productivity and cost savings, according to Vimaan.
“Inefficiencies within the warehouse and logistics industries have spotlighted huge opportunities for technological advancement and investment,” said Greg Papadopoulos, Ph.D., Venture Partner at NEA. “We’ve been enthusiastically tracking the warehouse robotics and automation industry for a while and are thrilled to expand our portfolio in the space by partnering with Vimaan to apply revolutionary computer vision technology to transform inventory processes and empower warehouse managers across the industry.”
This latest development appears to put other advanced warehousing systems in the shade and could well represent the future for warehousing management. There are many new and exciting developments in this field and Vimaan is certainly in pole position here, with one of the most futuristic offerings to date!
Sustainability integration
- a comment from REPL
As we’ve explored in previous articles, the concept of sustainability is far broader and multifaceted than simply the environmental element, spanning instead the ‘five capitals’ of natural, human, social, manufactured and financial capital. By understanding this, sustainability leaders will be able to define the sphere of influence for their organisation to bring about positive change, making use of an array of tools, including data science.
Armed with this new sustainability mindset – and the right technologies – leadership teams can start to make a tangible difference across the business, including one of the most significant elements for any retailer or manufacturer: the supply chain.
The vastness of the supply chain is one of the reasons that there is such a wealth of associated sustainability benefits, with each mappable to both the United Nations Sustainability Development Goals, and those same ‘five capitals.’
By improving both stock management and decisions around sourcing, businesses can benefit from lower logistics and waste disposal costs. Equally, by improving the transparency of their own progress on sustainability, such as via reporting, they can demonstrably improve both employee and consumer engagement, with a knock-on impact on revenues. Tesco, for instance, has been lauded for its decision to routinely reveal data on its levels of food waste.
Making a difference - at every stage
There are so many opportunities within the supply chain to unlock sustainability, across each of the ‘five capitals.’ Simply put, the right technology can help a retailer not only reduce waste and emissions throughout their operations, but also improvement in both internal and external engagement, building better relationships with employees, suppliers, consumers and also their local communities.
