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RFID Retail & Warehousing
 
In an increasingly competitive environment, successful retailers are those who continually find ways to maximize revenue opportunities, decrease costs, and provide a consistently positive customer experience. Retailers look to leverage technology solutions in support of these business-critical efforts. However, even with the gains achieved using traditional retail technologies in recent years, there are still significant areas of exposure and opportunity that have not been adequately addressed.

Key areas of exposure common to all retailers include - out of stocks, shrinkage, loss of inventory and labor inefficiencies. Consider the following facts, based on industry research:
  • U.S. retailers lose an estimated $50 billion annually in revenue opportunities from out-of-stocks (in addition to the ?bottom line? impact, out-of-stocks are one of the top incidents that lead to a negative customer experience and drive customers to the competition)
  • U.S. retailers lose an additional $31 billion annually due to shrinkage

We therefore, through this project aim to provide retailers with an item-level visibility required for impacting these real business challenges, moving RFID beyond mandates and into solutions that add significant gain to the bottom line. With a solution for retail that streamlines inventory management, We use the most attractive and cost-effective item-level technology available to identify precisely where inventory exists in the front or back rooms; which would help the retail enterprise to thereby reduce out of stocks, shrinkage, loss of inventory, labor costs, and ultimately improve the customer experience. In fact, studies have shown that item-level solutions can attack these business challenges with significant success:

  • Out-of-stocks have been reduced by as much as 50 percent
  • Restocking time has been reduced by as much as 65 percent
  • Loss of inventory can be reduced by as much as 70-80 percent
  • Store labor investments to handle replenishment lowered by as much as 15-20 percent
     

Benefits in RFID Warehousing

  • Provides total asset visibility
  • Gives full inventory history
  • Allows reduced inventory-stocking levels
  • Facilitates "Just-in-Time" deliveries
  • Provides full process control for products in the facility
  • Reduces lead-time
  • Shortens cross docking time
  • Speeds up sort/pick rate
  • Reduces shelf space
  • Provides higher-level security
  • Reduces errors
  • Reduces overall cost of operations
  • Track the location of pallets and containers within the warehouse
  • Notify management and security when unscheduled movements
  • Reduce costs and time for check-in and check-out as containers and pallets enter and leave the warehouse

Benefits in RFID Retail environment

  • Store management alerted to out-of-place items
  • Re-stocking alerts and replenishment
  • Reduced need to check merchandise carried by customer into store
  • Alerts and tracking of merchandise removed from shelf
  • Monitoring controlled substances
  • Expiration and obsolescent/seasonal alerts
  • Streamlined self-checkout
  • Mapping shopping behaviors


 

 
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