Verizon and Deloitte are looking to support the digital transformation of the retail industry with the release of a new digital platform built to take advantage of the latest mobile edge computing and 5G technologies. The platform has a wide variety of applications, providing retailers with real-time analytics that can be used to make their operations more efficient.
According to Verizon, the solution should be particularly helpful with regards to logistics. Retailers can use edge technology to track items in stock rooms and on store shelves, and set up automated alerts to restock and place new orders whenever they are running low. The technology will negate the need for manual inventory checks, and allow employees to spend more time interacting with customers.
The technologies can be paired with sensors and cameras to improve the quality of the information gathered using the system. Verizon and Deloitte have also integrated the SAP software portfolio into the platform to make it easier to track revenue, expenses, and operating margins. That portfolio includes SAP’s Customer Activity Repository and S/4HANA solutions.
“Every retailer is looking to accelerate digital transformation, increase productivity and improve customer experiences,” said Verizon Business CEO Tami Erwin. “We look forward to helping our customers reimagine everything from their employee experience and supply chain to end-customer use cases.”
“5G and MEC should have a seismic impact on the retail industry,” added Deloitte Principal Anthony Stephan. “Our collaboration enables us to efficiently and effectively address the concerns of retailers today, providing a best-in-class digital transformation experience that can respond and deliver at the speed of 5G.”
The news comes only a few short months after Verizon and Deloitte first announced that they would be working together to develop new 5G and IoT solutions. Verizon and Ericsson completed a successful test of a pop-up 5G tower in July. The former has since signed a separate multi-billion dollar 5G infrastructure deal with Samsung.