In a recent webinar, Panoramic Power explored some available avenues for food retailers to integrate Internet of Things (IoT) technology into their standard operating procedures. By clarifying exactly what IoT is — a network of physical objects that connect to the internet and communicate with each other as well as with systems, programs and users — how it's used for business purposes and what applications it might have for food retail in particular, viewers were introduced to many new opportunities.Read More
The Internet of Things has paved the way for predictive maintenance to become a leading strategic business function in supermarkets.
By monitoring high-value capital equipment with smart energy sensors, grocery stores and similar food retailers can avoid unnecessary costs associated with maintenance, labor and downtime, and increase overall profitability.Read More
Energy use is one of the first places food retail stores should look at when cutting back on budget because it can directly and positively impact razor thin profit margins. Unfortunately, many managers fail to see the larger picture.Read More
If you're a food retailer, chances are that some of your customers are already paying for their purchases using their smartphones. Or maybe they're browsing your aisles scanning your products through an app that places an order for that very product with another store that sells it for a cheaper price. Perhaps online orders are being put into your system by smart fridges that have identified their owners' food stocks dwindling across more than a few staple items. Maybe you've just enjoyed a surge of foot traffic because there's a prized Charizard hanging out next to the frozen pizza section in aisle 5.Read More
Food retailers come in all shapes and sizes, from supermarkets to convenience stores to mass merchandisers and drug stores. One common denominators they all have is that they can profit substantially by reducing energy waste. Since profit margins for food retail chains are typically very narrow, installing a smart energy management solution is essential to overcoming energy and operational pressures and widening those margins.Read More
Retail organizations have a unique set of priorities when it comes to energy management. Storefronts demand a significant level of power to maintain, especially those that feature high-tech displays, kiosks and lighting systems.Read More
Across all sectors, throughout every continent, there are two universal truths about business and energy:
- Without energy, businesses would be powerless.
- Without energy data, businesses would operate in the dark.
Food retail companies typically have very high turnover, but a small profit. Their profit is a tiny fraction of revenue, and they have to minimize costs in order to stay profitable. Energy represents a significant part of their operating expense; with energy spend often at the same order of magnitude as their profit. At the same time, many supermarkets are ill equipped to deal with their energy expense, and have old or aging energy control systems - or even none at all.Read More
Consider the following hypothetical: You are the CEO of a large, privately owned supermarket chain. You have been running it for 6 years now. The chain has a little over 1000 stores across the US with roughly $20B revenue. You have been fighting long and hard to convert it from a struggling enterprise to being 1% profitable. That means a nice $200M annual profit for the owner, but he wants more. He needs to make up for the past years.Read More