Manufacturers and warehouses have been fighting to conquer costly inventory inaccuracy issues since the industrial revolution. The inaccuracies not only lead to inventory shrinkage but also limit the planning capabilities for production.
Solutions available today either still hinge on accurate inputs from manual process, like Barcodes and RFIDs, or require an infrastructure overhaul for robotic solutions like Kiva Systems. The former involves manual processes that are unavoidably slow and inaccurate; while the latter involves costs that are only affordable by a small number of warehouses with massive-scale. Hence, there is a need for a low-cost automated solution that addresses the inventory inaccuracy challenges for the majority of warehouses.
Things Inside looks to address this through a real-time inventory tracking system developed using our proprietary indoor positioning (IPS) technology. This solution, which automatically locates assets indoors and outdoors, requires minimal capital investment and can be reconfigured to fit different spaces including delivery trucks. The accurate and real-time information provided would not only help to reduce inventory inaccuracy but also unlock possibilities for industries where Kanban system and JIT production were previously limited due to slow information streams.
Video from Hatchery Demo Day presentation, September 2015:
