Growth of mobile technology is forcing retailers to change and transform.

SAP has released two new IoT software offerings to implement more efficient data processing and inventory tracking. The software enables large volumes of IoT devices to connect with real-time data gathering systems in order to facilitate more accurate analysis of inventory levels in order to maximize supply-chain efficiencies.

SAP Connected Goods facilitates the remote monitoring of product levels in coolers, vending machines and power tools. Hosted on its cloud, users are empowered to follow the level of inventory and product longevity. What’s more, as product supply is followed in real time, inventory is able to be accurately supplemented and stored correctly.

In addition to promoting supply-chain efficiency, users are able to observe consumer behavior in order to best satisfy customer expectations — an asset in a fluctuating shopper landscape. SAP Connected Goods is available for locations such as pharmacies, retailers, gas stations and even constructions sites.

In its second IoT initiative, SAP Dynamic Edge Processing minimizes the inundation of data as more analytics become available and often, burdensome. Here the system allows for the filtering of the most pertinent information centrally while additional data is processed subliminally. The support system utilizes algorithms that sync with optimized database technology for device connectivity, offline operation, data reduction, local application platforms and immediate response and local storage.

“With these new IoT solutions, we are enabling a new level of business innovation and operational value from IoT devices practically anywhere, on a mass-market scale, across industries,” said Tanja Rueckert, executive vice president of digital assets and IoT at SAP. “By extending SAP’s digital core and processing capabilities to the intelligent edge, where device sensor data originates, enterprises can minimize latency, enhance operational efficiency and accelerate decision making to optimize data-driven insights.”

The new software will work in tandem together for elevated operational efficiencies. As more data reading functionality becomes available, it will be imperative for retailers to sort insights quickly and accurately in order to keep pace with customer demands.