AI Case Study
Coca-Cola achieves 6 percent additional revenue with 15 percent fewer restocking trips by identifying the right product and placement using intelligent vending machines
Using Hivery's AI solution, Coca-Cola has been able to identify the right product, the right space-to-sales ratio and the right promotional activity for products to be placed in each vending machine. The software also optimises physical product placement in the vending machine. It also analyses sales to predict demand. Coca-Cola estimates intelligent vending machines have helped drive 6% of the revenue increase.
Consumer Goods And Services
Food Beverage And Drugs
"Vending Analytics is an AI solution that increases returns and reduces restocking in vending machines by recommending the right product mix, the right space-to-sales, and the right price for each individual machine in the fleet.
Hivery's cloud-based retail software identifies the right product, the right space-to-sales ratio and the right promotional activity for products in every one of Reyes Coca Cola Botting's 19,000-plus vending machines and generates a planogram — a visual diagram that details the placement of every product in the machine — in two minutes as opposed to the 20 minutes
The tool also does a "what if" analysis for a product the company might consider placing in a machine. There is no need for the company to actually test the product to determine how it will perform in the field. It optimises based on specific occasion and consumer set.
The Hivery AI tool was also able to more accurately determine the best times to service the machines, which made restocking more efficient."
According to the company:
* ROI delivered within 6 weeks
* 6% additional revenue
* 15% fewer restocking trips
"The Hivery AI solution makes use of robotics, sensors, natural language processing, speech recognition, text-to-speech, computer vision, machine learning, machine reasoning, decision making, deep learning, neural networks, business analytics and data services."
Coca-Cola becomes the first company to implement AI in beverage vending.