Scandit raises $150M to automate inventory scanning with computer vision

Did you miss a session from GamesBeat's latest event? Inventory management is a growing challenge in retail and logistics, particularly as the pandemic places a strain on the supply chain. According to a 2018 survey by Coresight Research and Celect, inventory decisions -- including overbuying, buying the wrong type of products, and misallocating inventory -- account for an estimated 53% of unplanned markdown costs for retailers. Similarly, a Stitch Labs survey of warehouse operators found that human error was the top cause of inventory fulfillment issues for a majority of the respondents. Some problems stem from the barcode- and label-based systems that companies use to keep track of products, which can be susceptible to incorrect data, poor print quality, and other inconsistencies. Automation technologies have been proposed as a solution in light of the growing trend toward digitization in logistics.