Global Autonomous Inventory Robotics New Product Innovation Award

Industry Challenges

Billions of dollars in goods and stockpile fill 250,000 warehouses and manufacturing facilities across the United States.

Efficient and accurate inventory management, therefore, is critical to ensure audit compliance, customer fulfillment, and advanced planning.

Production inventory houses within manufacturing companies and warehouses face 3 key challenges:

1. Inventory accuracy rate: Companies aim to achieve a 99.5% accuracy rate as an industry standard. However, the reality is usually 9 to 10 basis points lower.
2. Computation velocity of inventory: Today, most warehouses use paper-based and human-centric methods to collect, verify, and perform inventory reconciliation. This is a very monotonous, time-consuming, and error-prone method due to worker fatigue.
3. Employee safety: As per the US Bureau of Labor Statistics (November 2016), freight, stock, and material movers’ ranked the highest in a number of injuries and illness amidst all occupations, totaling 59,010 cases (global) over the course of a one year.

Hence the need to mitigate a balance between operational efficiencies and employee safety mandates the deployment of innovative products and solutions designed to eliminate these challenges.

One such solution is offered by PINC (PINC), an innovative solution provider that found initial success in providing yard management solutions using real-time location services technology.

Evolving from this root, the company has branched out into a unique offering called PINC Air, a cutting-edge solution that deploys the use of astute autonomous drone platforms for indoor and outdoor inventory management.

The PINC Air inventory robotics solution is an autonomous, class-leading, and differentiated offer that integrates several technologies and packs powerful performance for every square inch of payload.

Further, the technology is the world’s first FAA-certified (Section 333) for use of UAS in supply chain applications.

PINC’s aptitude for developing innovative product platforms by converging several technologies (sensing LiDAR, deep learning, edge computing, computer vision, hydrogen fuel cells for the power source, RTLS) to tackle current and emerging customer challenges via comprehensive and cost-efficient solutions make it a clear leader among its peers.