The “Internet of Things” is a system of interconnected “smart” systems and devices, from mechanical and digital machines to non-technical things, even including animals and people – and it’s surging in popularity. This concept has even made its way to vending machines. How does this network benefit these machines and the people that use them? As it turns out, this tech may mean a new technological revolution for these familiar machines.
Evolved Inventory Management
The Internet of Things is greatly impacting how vendors manage the inventory of their machines. This new technology helps vendors to better track shipments, know when certain stock is running low in machines, and, best of all, monitor what items are selling well.
Imagine how helpful it will be for vending machines to be able to “think” for themselves and know what inventory will be needed and which will not. For example, if it is nearing the start of summer and ice cream is selling well, but then the stock runs dry, the machine will report that it needs to be restocked sooner than normal. Owners can also then use that information to make inventory changes, perhaps stocking more of the most popular flavors so that there’s plenty of ice cream for everyone.
There is also a chance to cut down on all of the money and manpower associated with machine maintenance as repair personnel will be able to troubleshoot any mechanical errors remotely. All of this is just as helpful for the locations housing the vending machines because they won’t have to spend time calling up vending machine operators for assistance and waiting to schedule necessary service.
Smarter Payment Options
Another benefit for both vendors and customers alike is the availability to take smart payments. Customers so rarely carry cash today that this form of payment is no longer a reliable option for these machines. Today, many machines have the ability to accept credit and debit cards, but soon enough, this form of payment may also fade away.
Luckily, cellphones and vending machines are starting to use mobile wallet payment options. This means that users can use smartphone apps like Google Wallet or Apple Pay to buy their items by simply tapping their phone against the machine to transfer funds. As BizJournals points out, this ease of payment helps the vendors and customers alike because when people can buy goods with little effort, they will always come back for more. Plus, this form of payment can also improve buyers’ experience or even be partnered with loyalty apps to offer incentives or frequent buyer rewards, driving further business.
While the Internet of Things is still building to its full potential, it is already proving to be a powerful concept, and vending machines are just another area that is seeing the benefits of these growing capabilities. The ability to diversify the available payment options and automate the inventory process are both great leaps in vending machine technology, and the industry will only reach greater heights as these innovations further develop and mature.
At Orsino Vending, we also use the latest technology and functionality options into all of our vending machines and we look forward to providing these convenient machines for your offices, dormitories and sporting events – or wherever else you need them. Email us today at info@orsinovending.com or call us at 201-871-9286 today to learn more!