Vuzix Announces Support for Oculogx's Omnichannel Fulfillmen
ROCHESTER, N.Y., Sept. 11, 2020 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced the Company's M-Series smart glasses now support Oculogx, a provider of omnichannel order fulfillment software designed for increased productivity. Oculogx recently launched its suite of out-of-the-box products that make order fulfillment faster and more accurate. The Oculogx solution is suitable for storefronts, warehouses and retail stores and includes support for wearables to enable hands-free order picking, real-time order management, analytics, and a mobile fulfillment application.
The Oculogx suite consists of Ocx One, Outline and Portal. Ocx One is a hands-free order fulfillment software built on an ecosystem of wearable devices and is designed to increase the efficiency of the workforce powered by smart glasses hardware. Vuzix Smart Glasses with Ocx One empower employees with a customized AR-driven interface and inventory management insights to pick orders more quickly. Associates can communicate with Ocx One through voice and gesture, which shaves time off every order and enables a hands-free experience. In addition, the system offers step-by-step tutorials that guide employees for a rapid and seamless onboarding process. Ocx One is ideal for expansive enterprise retailers.
Using the Oculogx technology suite, a large international grocer's order fulfillment process became 18% more efficient, 17% more accurate and offered a 2,600% internal rate of return over two years compared to its previous handheld technology strategy.
Ocx Outline, a simple order fulfillment mobile application, helps organize operations for lean, fast-growing enterprises. Unlike Ocx One, Outline's zero-infrastructure is implemented on mobile devices, even allowing employees to bring their own devices to fulfill orders instantly. The modularized plug-and-play application is built for a retailer's individual process to ensure customized, simple and effective tracking and fulfillment.
Ocx Portal, an order management platform, offers real-time fulfillment status and high-level analytics. Portal's data acts as the mothership for Ocx One and Outline, improving legacy systems for retailers of any size. The system receives orders and maps the retailer's facility to create an efficient picking plan that increases employee pick rates. With Portal, retailers can manage employees at any given time through a cloud-based infrastructure and run reports and visualizations offline to always monitor workforce success.
"With significant surges in demand in eCommerce volumes, AR heads-up displays offer a next generation way to optimize supply chain operations without heavy infrastructure changes. Enterprises looking to substantially improve operations should implement solutions in this space," said Charu Thomas, CEO and Founder at Oculogx.
"Vuzix is excited to support the launch of Oculogx's disruptive order fulfillment software platform that has already been proven to deliver measurable benefits related to order fulfillment, accuracy and internal rate of return over a two-year span at a large international grocer. We look forward to further collaboration with Oculogx to support the growing trend of e-commerce curbside delivery across big-box stores and other retailers," said Paul Travers, President and Chief Executive Officer at Vuzix.
According to the US Department of Commerce data, during the first six months of the 2020, consumers spent $347.26 billion online with U.S. retailers, up 30.1% from $266.84 billion for the same period in 2019, from the latest Digital Commerce 360 analysis. As of August 2020, 43.7% of the 245 retailers with stores ranked in the Digital Commerce 360 Top 500 offer curbside pickup, a sharp increase from 6.9% at the end of 2019.
Oculogx is reimagining the order fulfillment process with technology designed to empower retail workforces and executives alike. Working with leading retailers to increase productivity, Oculogx's product suite features a range of software and AR-driven solutions that allow any retailer, no matter vertical or size, to select a customized solution set. Founded by Forbes 30 Under 30 honoree Charu Thomas, the company has been recognized for its innovations, winning the Atlanta Startup Battle and being named a TC Top Picks for TechCrunch Disrupt San Francisco 2019. Oculogx is headquartered in Bentonville, AR. For more information, visit http://www.oculogx.com.
About Vuzix Corporation
Vuzix is a leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company's products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 166 patents and patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2020 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK, and Tokyo, Japan. For more information, visit Vuzix website, Twitter and Facebook pages.
Forward-Looking Statements Disclaimer
Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to our business relationship and success with Oculogx, and among other things the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.
Media and Investor Relations Contact:
Ed McGregor, Director of Investor Relations, Vuzix Corporation [email protected], Tel: (585) 359-5985
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