Tell us about you, your career, how you founded StockVUE
Div Harish: As an engineer, I have always been drawn to creating simple but innovative solutions to complex problems. More recently, in the first company I founded, we developed the world’s first digital load cells with USB, WiFi, and Bluetooth outputs with software friendly features. It enabled thousands of applications to be built by folks who did not need to be electronics engineers! Based on continuous innovations in sensors, interface devices, and software, we developed this innovative IoT solution for inventory management called StockVUE.
How does StockVUE innovate?
Div Harish: By listening intently to issues facing customers and figuring out if using our skills and talent, we can address it cost-effectively and offer it as a solution to customers.
How the coronavirus pandemic affects your business, and how are you coping?
Div Harish: We were shut down for the first six to eight weeks until several of our customers, who were essential businesses, needed our products to produce solutions for the pandemic. We were faced with the question of how to keep track of all the safety and health products such as face masks, wipes, cleaning agents, visors, gowns, and PPE and adapted our StockVUE solution to address this key issue. And we are now offering it to other customers as a way to easily ensure an adequate supply of safety supplies to keep team members safe.
Did you have to make difficult choices, and what are the lessons learned?
Div Harish: We were faced with tremendous uncertainties on whether we will be able to survive, whether we need to cut back on the size of our team, whether the business will ever be able to come back from this sudden and severe crisis. We decided not to cut back our team, allowed extreme flexibility to team members to work from home, reduce interaction to a minimum and not stress out about targets and other KPIs and let things take its course one day at a time. Fortunately, our business recovered rapidly as businesses started adapting to the new reality. Our solution also helps businesses manage their inventory remotely and autonomously with minimal human interaction. When life gives you lemons, one figures out a way to make lemonade. That is what we did. We are part of the solution to this problem with our StockVUE solution!
How do you deal with stress and anxiety? How do you project yourself and StockVUE in the future?
Div Harish: By not looking back too much or looking forward too much. One day at a time. One customer at a time. By making sure to build fantastic products that solve real problems, by creating compelling content to talk about it on our website and social media, and by taking care of our team members who are like family. We are optimistic about the future of our company and our country. All will be well soon.
Who are your competitors? And how do you plan to stay in the game?
Div Harish: One of our competitors, Apex Supply Chain solutions just got bought out for over $100 mm dollars recently. We are one of the few pure-play competitors offering a superior cloud-based IOT solution. We are certain to do well in the future and look forward to helping more and more customers benefit from our solution by banishing stockouts, getting real-time inventory data and alerts, and making their operations more efficient by lowering costs and improving delivery times.
Your final thoughts
Div Harish: We live in the greatest of times despite the pandemic. The world has truly become a global village, connected in real-time with our fates intertwined like never before. The unbelievably low cost of processors and electronics, combined with advances in communications technology and cloud-connected software, with smart, educated people all over the globe, enables the creation of a whole new class of applications to bring about dramatic improvements to our world. We can reduce pollution, reduce the amount of travel needed, reduce the drudgery of human labor needed to do mundane tasks, and improve the quality of life for everyone with innovative solutions and entrepreneurship.
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