Have you enabled your vending machine to send you stock out alerts? If yes, are you equipped to handle the situation with effective personnel management? If not, how do you anticipate stock depletion and plan for it?
Technology has changed how basic transactions work and is paving the way for unmanned services. Nowadays, self-service industries are taking over the world by storm and gradually reducing human intervention. As per a recent survey, the global self-service market is expected to grow to $83.5 billion by 2021, of which the vending machine industry is a significant contributor.
Businesses these days are benefiting largely by using vending machines for their operations by increasing coverage and point of sales. One of their primary attributes is automation which makes its available for 24 hours a day, 365 days a year. Another is the reduction of operational costs as vending machines take care of labour as well as product storage. Lastly, the quick delivery of the products also boosts consumer satisfaction because vending machines are able to instantly satisfy consumers reliably.
Modern Business Complications
However, to achieve all of this, you must ask yourself one question. Do you have enough control over your vending needs to derive optimum benefits? For most businesses, the answer is no.
Vending businesses suffer from being unable to utilize their machines to their fullest potential. Some of the most common issues leading to a drop in productivity and profitability are:
– Irregular repair and maintenance.
– Lack of timely stocking.
– Inability to predict consumer preferences.
– Fewer payment choices.
– Supply Chain Management
With consumer requirements changing rapidly, payment methodologies and retail experiences have changed too, and businesses are looking to revolutionize their regular processes. To combat all this, there is a solution for businesses that will help them stay up-to-date so that they can convert vending needs into profits. This is where Vendekin comes in.
With high-level features that are the corollary of new age vending increasingly becoming the norm, you need to be one step ahead of the rest to sustain yourself in the self-service industry. Here are four important ways how Vendekin can help you gain complete control over your vending requirements:
1. Inventory tracking
Keeping track of your stock needs comes first in vending businesses. With the incorporation of technology, you can now get real-time tracking reports even on your mobile phone. Vendekin specializes in refill management and refills verification that ensures users get products exactly when they need them.
2. Consumer analytics
Consumer preferences can be difficult to track without the right kind of analytics. This is a module that not only requires expertise in creating consumer specific reports but also provides an analysis of product consumption, discount management, and dynamic pricing strategies.
3. Health detection
Vending machines are susceptible to damage, just like everything else. This failing can potentially slow down your business if you are not aware of when the machine might need maintenance. But through health monitoring technology that detects even the slightest anomalies, you can keep your vending machines in their optimum working condition at all times making sure your sales don’t take a hit.
To ensure the optimal utility of staff, it is important to have complete visibility of their day to day activity. Enabling personnel with technology makes their tasks simpler while empowering the operator with complete control and knowledge of resource utilization
Control is an important factor that determines how profitable a business is. A business owner is responsible for gaining this control, but that doesn’t mean that he/she has to do it alone.
Vendekin provides a 360-degree solution for your vending transaction needs that are meant to enhance the experience for everyone involved, including the brand, the distributor, and the consumer. So, gain control over your vending needs today!