A recent Gartner® report details how technologies such as smart robots can be used to address and fulfill the new realities of the post-pandemic world for consumer goods (CG) manufacturers. GreyOrange, a leading provider of AI software and smart robots for modern fulfillment, is noted in the report as a sample vendor supplying solutions to modern commerce needs.
The report, “Hype Cycle™ for Consumer Goods, 2021” led by Ellen Eichhorn and Michelle Duerst, notes that CG manufacturers are “facing direct-to-consumer sales, persistent restrictions in the supply chain, and increasing demands of product customization and value-based buying patterns.” The report also notes that long-delayed digital initiative investments are coming to the forefront due to pandemic pressures.
The report mentions the adoption of Smart Robots as a driver for innovation due to:
- “Their ability to capture and process large volumes of on-shelf data faster and in real time, enabling retailers to make agile and intelligent inventory decisions on the fly.”
- Additional use cases driving adoption include: supply chain processes such as picking and packing, handling and disposal of hazardous wastes, prescription filling and delivery, stock auditing, stock replenishment, order assembly, finished goods movement, e-commerce order fulfillment, and package delivery.
- Beyond the initial opportunities for cost savings, one of the most significant impacts from smart robots will result from transforming how people work. Workflow transformation will take place through the analysis of data collected by smart robots as well as offloading repetitive tasks from people.
Download the report, compliments of GreyOrange, here. GreyOrange is a global provider of solutions that modernize fulfillment operations through its AI cloud software GreyMatter™ and Ranger™ Robot Series.
Additional insights from the report, written by Gartner analysts Eichhorn and Duerst include:
- “As the pandemic persisted, we saw CG companies blur the lines from strictly selling to retailers to competing against them by selling directly to consumers. A demand for more digital business, particularly in digital commerce, erupted.”
- “The 2021 CEO Survey identifies that growth remains the No. 1 priority for CG and retail CEOs, but technology follows as a very close second, as only a single percentage point separates the two. The survey went on to identify that 79% of CG CEOs plan to increase investment in digital capabilities.”
“Automating with smart robots is proving to be instrumental in transforming business processes across industries,” said Akash Gupta, co-founder and Chief Technology Officer, GreyOrange. “Retailers and consumer goods companies alike can provide better experiences to their customers as well as better workplaces to their employees by modernizing their operations utilizing the latest fulfillment technology.”
GreyMatter AI software works with the GreyOrange Ranger Robot Series (as well as robots and equipment from other companies) to feed real-time data into always-solving algorithms that calculate each next-best decision, whether solving for every-day omnichannel performance or solving for peak period commitments. By optimizing how inventory is picked, packed and shipped in real time, companies can make and keep more promises to customers and stores, accelerate throughput, lower costs, meet Service Level Agreements (SLAs), and protect the safety of people and inventory.
Gartner “Hype Cycle for Consumer Goods” by Ellen Eichhorn & Michelle Duerst; 21 July 2021
For more information, visit www.greyorange.com.
