Australia’s largest online bookstore, will be the first in the nation to roll out new autonomous robot technology
ASX-listed e-commerce retailer Booktopia has partnered with BPS Global Australia to roll out advanced automation at its distribution centre in Lidcombe, NSW.
As part of a $20 million investment in automation for Booktopia, the robots, combined with a range of other automations, will double its product range at its 14,000 sqm distribution centre in NSW.
In the financial year to June 30, 2020, Booktopia broke all previous sales records and reported a revenue of $165.4m, after the retailer saw a massive increase in sales as a result of the COVID-19 online shopping boom.
Booktopia has revealed it is expecting to turnover $217m in the current (FY21) financial year.
Why improve logistics infrastructure?
Booktopia has more than five million customers and wants to invest in its logistics infrastructure to better serve consumers.
Through working with its integration partner BPS Global, Booktopia has deployed HAI ROBOTIC’s HAIPICK solution.
Manufactured by Chinese-based Hai Robotics, the HAIPICK is the world’s first carton picking and double deep autonomous case and tote-handling system.
Booktopia will be the first business in Australia to deploy this solution.
Robots can carry cartons as well as individual totes and to bring multiple totes or cartons to pickers in one movement.
This enables Booktopia to facilitate the completion of multiple customer orders at one pick station –greatly improving fulfilment and despatch rates for the leading retailer.
This solution has enabled Booktopia to pick, pack and despatch 60,000 units a day, up from its previous capacity of 30,000 order a day.
According to Wayne Baskin, Chief Technology Officer at Booktopia this solution enhances Booktopia’s entire operation.
Automation the key to keeping up with demand?
“Our key driving factor for implementing this technology was efficiency gains for picking and put away,
“But we’re now finding improvements across our entire operation and we can pick,pack and despatch our orders significantly faster,”
Wayne Baskin, Chief Technology Officerat Booktopia said.
“By deploying this innovative robot solution, we have doubled our capacity and significantly improved our picking and put away rates. This gives us the confidence we need to continue to serve our customers,” Tony Nash, CEO at Booktopia said.
Bruce Drayton, Automation and Robotics Director at BPS Global said the HAIPICK solution provides Booktopia with an impressive 800 per cent efficiency increase.
“COVID-19 placed immense pressure on e-commerce retailers and we saw volumes reach record heights across the entire retail landscape. We’re thrilled to work with Booktopia on the first ever deployment of this innovative automation solution in Australia. This investment ensures they are well-placed to meet rising demands and continue to service the nation with its favourite books,” Malcolm Druce, Managing Partner at BPS Global said.
Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.
Markets are moving into the Thanksgiving break with strong momentum, as stocks notch four straight days of gains. The Dow Jones Industrial Average jumped 388 points, while the S&P 500 added 0.9%, pushing both indexes toward their best week since June.
Oracle led major movers, rising more than 4% after Deutsche Bank reaffirmed its bullish outlook on the tech giant. Broad investor optimism continues building across sectors as economic data softens and earnings remain resilient.
All eyes are now on the Federal Reserve and what potential shifts in interest-rate policy may mean for the markets. U.S. markets will close Thursday for the Thanksgiving holiday and reopen Friday for a shortened trading session.
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In Short:
– Dow Jones rose 569 points, reflecting optimism for a Federal Reserve interest rate cut.
– Alphabet’s stock increased as Meta may invest in AI chips, but Nvidia’s declined amid market concerns.
The Dow Jones Industrial Average increased by 569 points or 1.2% on Tuesday, reflecting investor optimism for an upcoming Federal Reserve interest rate cut. The S&P 500 and Nasdaq Composite also posted gains, up 0.8% and 0.4% respectively. This represented a recovery from earlier losses, where the S&P 500 briefly fell by 0.7%.
Markets anticipate an 85% chance of a quarter-point rate cut in December, driven by comments from New York Fed President John Williams, who indicated the possibility of lower rates soon. Investor sentiment strengthened following reports that Kevin Hassett may be appointed as the next Fed chair, potentially resulting in a more lenient monetary policy.
Tech Sector
Alphabet saw its stock rise by over 1% after reports indicated that Meta Platforms might invest in its AI chips. This could signal increased demand for AI technology, benefiting the sector overall. However, Nvidia’s stock fell more than 3%, suggesting concerns about its dominance in the AI chip market.
Investors are also wary of the valuation of tech stocks. Despite recent gains, the S&P 500 and Nasdaq remain down over 1% and 3%, respectively, for November, while the Dow has lost more than 1% this month. The broader market’s performance indicates ongoing scrutiny regarding tech valuations amid changing economic expectations.
Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.
Gold prices are climbing fast as central banks ramp up buying, pushing demand to its highest levels in years. The metal’s reputation as a safe haven is strengthening, especially amid rising geopolitical tensions and global financial uncertainty.
But experts warn the shine could fade. A stronger US dollar and the possibility of rising interest rates may weigh on momentum, making investors question how long the rally can last.
Dr Steven Enticott from CIA Tax breaks down the drivers behind gold’s surge—from ETF inflows to physical bar demand—and what could send the price sharply higher… or lower.
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