NEW YORK--(BUSINESS WIRE)--NRF Vision 2020--Madix Inc., the second largest retail shelves manufacturer in North America, and Shekel Brainweigh Ltd. (ASX: SBW), the leader in advanced weighing technology, today announced the availability of ready-made Product Aware shelves and solutions for the retail industry. The companies will launch Soter, a new concept Smart Shelf and Smart Safe, which cuts labor costs and reduces shrinkage by electronically securing high-risk SKUs. Soter is a sophisticated alternative to traditional lock-and-key security cabinets that can be installed in either autonomous or fully staffed stores. The joint solution integrates Shekel’s weighing technology into Madix’s shelf designs for distribution across North America to new and existing customers.
“By seamlessly integrating Product Aware shelves into our hardware, our customers are armed with accessible data giving them reliable inventory visibility and assisting them in addressing over-stock and out-of-stock problems, as well as better control over shrinkage” said Steve Kramer, VP Sales, Madix. “For the retail industry, this is a defined competitive edge that promotes the opportunity to increase profitability.”
Using IoT load sensors, embedded smart shelf software and cloud-based Artificial Intelligence and deep learning algorithms, Shekel’s Product Aware technology identifies individual products by their weight, location on a shelf and is analyzed with planograms. Every on-shelf event, such as add-take-misplace of single or multiple items, is captured in real-time. The accessible data can help retailers manage inventory, reduce shrinkage, analyze consumer behavior, improve customer experience and automate administrative processes. Madix hardware designs equipped with Shekel’s Product Aware technology can be used in a variety of retail applications, such as frictionless Grab-and-Go shopping, unattended cabinets and autonomous micro-markets.
“Working alongside a leading shelf manufacturer, such as Madix, ensures retailers can customize shelf design according to their requirements and reap the benefits of actionable insights from real-time data,” said Rami Bahar, Head of Business Development, Shekel Brainweigh Ltd. “Our partnership also opens the door for smart shelving technology to emerge as a key enabler of fast-growing retail environments such as micro-markets and other self-serve models.”
About Shekel Brainweigh
Shekel Ltd. is a well-established technology market leader revolutionizing the retail industry for more than 40 years. The company combined physics, electronics and software expertise to develop digital scale technology. This technology, first implemented into self-checkout (SCO) systems by our retail partners, gave Shekel the reputation as an innovator for solutions to the global retail market. Following the last years of disruption in the retail market, the company has reinvented itself embracing the newest technologies of IoT and data analytics to enhance and enlarge its offering to the retail market, enabling retailers to adapt to the dramatic changes taking place. To learn more about Shekel Brainweigh, visit https://theshekelgroup.com/. In November 2018, the company launched on the Australian Stock Exchange as Shekel Brainweigh (ASX:SBW). The company has evolved into a retail technology leader transforming a retail shelf into a source of enlightening insights with its ability to identify a product by its weight.