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Nokia (NOK) Unveils Cutting-Edge Inventory Management Solution
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Nokia Corporation (NOK - Free Report) has introduced an Autonomous Inventory Monitoring Service (AIMS) designed to significantly enhance warehouse inventory management. The solution harnesses the power of AI-integrated drone-based hardware, and camera-based indoor localization, in conjunction with data analytics and computer vision.
The technology developed through extensive research in Nokia Bell Labs Research will be deployed in collaboration with Graybar, a leading distributor of high-quality electrical, communications and data networking products, known for its expertise in supply chain management and logistics services. The solution will augment Graybar’s inventory management capabilities and is likely to deliver a 30-40% return on investments.
Graybar is also aiming to install the Nokia Digital Automation Cloud (DAC) to enhance connectivity in its warehouse operations. Nokia DAC technology streamlines the digital transformation journey, which is a vital step for achieving higher operational efficiency, improving worker safety and ensuring sustainability in day-to-day operations.
Owing to evolving business dynamics, warehouses often face several difficulties that can disrupt operations. One of the most crucial elements is the maintenance of accurate inventory records. However, the traditional inventory cycle counting process is inefficient, time-consuming and prone to human errors. Such inefficiency and inaccuracy can cause stock exhaustion and negatively impact revenues and client experience. Moreover, the rapid growth of e-commerce has highlighted the importance of swift and precise warehouse operations.
Nokia’s AIMS technology seamlessly integrates multi-drone orchestration technology with cloud analytics software, offering real-time inventory analytics to optimize warehouse processes. The blending of AI innovations, with a scalable Nokia edge compute platform, results in a lightweight and agile drone. This allows it to efficiently navigate through warehouses and scan inventory on shelves with precision.
The combination of drone-mounted sensors, cloud-based video and data analytics enrich warehouse operators with enhanced visibility and greater control of the inventory management process. The solution drives operational excellence, reduces the risk of human errors and facilitates tracking and tracing of every item 24/7 with pinpoint accuracy.
AIMS reduces unnecessary labor expenses and augments workforce productivity. The detailed insights can bring improvements at various stages of the supply chain, including warehouse operators, distributors, manufacturers and retailers. Nokia’s versatile smart drone technology can be utilized in various use cases such as vertical farming. With the rising demand fluctuation across industries, enterprises are increasingly looking for an advanced and affordable inventory management solution to mitigate inventory losses. Against this backdrop, the launch of AIMS is expected to boost commercial prospects for Nokia.
The company is driving the transition of global enterprises into smart virtual networks by creating a single network for all services, converging mobile and fixed broadband, IP routing and optical networks with the software and services to manage them. Leveraging state-of-the-art technology, it is transforming the way people and things communicate and connect with each other.
The company aims to create new business and licensing opportunities in the consumer ecosystem. To strengthen its leading position in the market, Nokia facilitates its customers to move away from an economy-of-scale network operating model to demand-driven operations by offering easy programmability and flexible automation needed to support dynamic operations, reduce complexity and improve efficiency. It seeks to expand its business into targeted, high-growth and high-margin vertical markets to address growth opportunities beyond its traditional primary markets.
The stock has declined 19.5% in the past year compared with the industry’s fall of 13.9%.
Image Source: Zacks Investment Research
Nokia currently has a Zacks Rank #3 (Hold).
Stocks to Consider
Motorola Solutions, Inc. (MSI - Free Report) , carrying a Zacks Rank #2 (Buy) at present, delivered an earnings surprise of 5.62%, on average, in the trailing four quarters. In the last reported quarter, it pulled off an earnings surprise of 5.58%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
It provides services and solutions to government segments and public safety programs, along with large enterprises and wireless infrastructure service providers. It develops and services both analog and digital two-way radio, voice and data communications products and systems for private networks, wireless broadband systems and end-to-end enterprise mobility solutions to a wide range of enterprise markets.
NVIDIA Corporation (NVDA - Free Report) , currently sporting a Zacks Rank #1, delivered an earnings surprise of 9.79%, on average, in the trailing four quarters. In the last reported quarter, it pulled off an earnings surprise of 29.19%.
NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit or GPU. Over the years, the company’s focus has evolved from PC graphics to artificial intelligence-based solutions that now support high-performance computing, gaming and virtual reality platforms.
Arista Networks, Inc. (ANET - Free Report) , carrying a Zacks Rank #2, is likely to benefit from strong momentum and diversification across its top verticals and product lines. The company has a software-driven, data-centric approach to help customers build their cloud architecture and enhance their cloud experience. Arista has delivered an earnings surprise of 12.8%, on average, in the trailing four quarters.
It holds a leadership position in 100-gigabit Ethernet switching share in port for the high-speed data center segment. Arista is increasingly gaining market traction in 200 and 400-gig high-performance switching products and remains well-positioned for healthy growth in data-driven cloud networking business with proactive platforms and predictive operations.
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Nokia (NOK) Unveils Cutting-Edge Inventory Management Solution
Nokia Corporation (NOK - Free Report) has introduced an Autonomous Inventory Monitoring Service (AIMS) designed to significantly enhance warehouse inventory management. The solution harnesses the power of AI-integrated drone-based hardware, and camera-based indoor localization, in conjunction with data analytics and computer vision.
The technology developed through extensive research in Nokia Bell Labs Research will be deployed in collaboration with Graybar, a leading distributor of high-quality electrical, communications and data networking products, known for its expertise in supply chain management and logistics services. The solution will augment Graybar’s inventory management capabilities and is likely to deliver a 30-40% return on investments.
Graybar is also aiming to install the Nokia Digital Automation Cloud (DAC) to enhance connectivity in its warehouse operations. Nokia DAC technology streamlines the digital transformation journey, which is a vital step for achieving higher operational efficiency, improving worker safety and ensuring sustainability in day-to-day operations.
Owing to evolving business dynamics, warehouses often face several difficulties that can disrupt operations. One of the most crucial elements is the maintenance of accurate inventory records. However, the traditional inventory cycle counting process is inefficient, time-consuming and prone to human errors. Such inefficiency and inaccuracy can cause stock exhaustion and negatively impact revenues and client experience. Moreover, the rapid growth of e-commerce has highlighted the importance of swift and precise warehouse operations.
Nokia’s AIMS technology seamlessly integrates multi-drone orchestration technology with cloud analytics software, offering real-time inventory analytics to optimize warehouse processes. The blending of AI innovations, with a scalable Nokia edge compute platform, results in a lightweight and agile drone. This allows it to efficiently navigate through warehouses and scan inventory on shelves with precision.
The combination of drone-mounted sensors, cloud-based video and data analytics enrich warehouse operators with enhanced visibility and greater control of the inventory management process. The solution drives operational excellence, reduces the risk of human errors and facilitates tracking and tracing of every item 24/7 with pinpoint accuracy.
AIMS reduces unnecessary labor expenses and augments workforce productivity. The detailed insights can bring improvements at various stages of the supply chain, including warehouse operators, distributors, manufacturers and retailers. Nokia’s versatile smart drone technology can be utilized in various use cases such as vertical farming. With the rising demand fluctuation across industries, enterprises are increasingly looking for an advanced and affordable inventory management solution to mitigate inventory losses. Against this backdrop, the launch of AIMS is expected to boost commercial prospects for Nokia.
The company is driving the transition of global enterprises into smart virtual networks by creating a single network for all services, converging mobile and fixed broadband, IP routing and optical networks with the software and services to manage them. Leveraging state-of-the-art technology, it is transforming the way people and things communicate and connect with each other.
The company aims to create new business and licensing opportunities in the consumer ecosystem. To strengthen its leading position in the market, Nokia facilitates its customers to move away from an economy-of-scale network operating model to demand-driven operations by offering easy programmability and flexible automation needed to support dynamic operations, reduce complexity and improve efficiency. It seeks to expand its business into targeted, high-growth and high-margin vertical markets to address growth opportunities beyond its traditional primary markets.
The stock has declined 19.5% in the past year compared with the industry’s fall of 13.9%.
Image Source: Zacks Investment Research
Nokia currently has a Zacks Rank #3 (Hold).
Stocks to Consider
Motorola Solutions, Inc. (MSI - Free Report) , carrying a Zacks Rank #2 (Buy) at present, delivered an earnings surprise of 5.62%, on average, in the trailing four quarters. In the last reported quarter, it pulled off an earnings surprise of 5.58%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
It provides services and solutions to government segments and public safety programs, along with large enterprises and wireless infrastructure service providers. It develops and services both analog and digital two-way radio, voice and data communications products and systems for private networks, wireless broadband systems and end-to-end enterprise mobility solutions to a wide range of enterprise markets.
NVIDIA Corporation (NVDA - Free Report) , currently sporting a Zacks Rank #1, delivered an earnings surprise of 9.79%, on average, in the trailing four quarters. In the last reported quarter, it pulled off an earnings surprise of 29.19%.
NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit or GPU. Over the years, the company’s focus has evolved from PC graphics to artificial intelligence-based solutions that now support high-performance computing, gaming and virtual reality platforms.
Arista Networks, Inc. (ANET - Free Report) , carrying a Zacks Rank #2, is likely to benefit from strong momentum and diversification across its top verticals and product lines. The company has a software-driven, data-centric approach to help customers build their cloud architecture and enhance their cloud experience. Arista has delivered an earnings surprise of 12.8%, on average, in the trailing four quarters.
It holds a leadership position in 100-gigabit Ethernet switching share in port for the high-speed data center segment. Arista is increasingly gaining market traction in 200 and 400-gig high-performance switching products and remains well-positioned for healthy growth in data-driven cloud networking business with proactive platforms and predictive operations.