Software:
Links:
|
| RFID Implementation Guide for Retailers with Technical Addendum |
|
|
Overview:
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, 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 report aim to provide Hypothetical Retailer with an
item-level visibility required for impacting these real business challenges,
moving RFID beyond mandates and into solutions that add significant dollars to
the bottom line. With a solution for retail that streamlines inventory
management, We use the most attractive and cost-effective item-level RFID
technology currently 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, labor costs, and ultimately improve the
customer experience.
The Working of the RFID Tracking System
Upon
implementation of the RFID Tracking System, every item is tagged with a unique
number and RF antennas are embedded in front room and back room shelving
systems. In general these are inexpensive postage stamp like tags, The inventory
levels and location for tagged items are perpetually monitored through a
centralized system that provides real-time inventory tracking and visibility.
With this ongoing monitoring, retailers can accurately track which products are
selling and how quickly; whether inventory is low and if any group of items need
to be re-ordered; or whether any specific items has been misplaced and exactly
where they are located currently; what types of products are most likely to be
lost or stolen and which promotional offers are working.
Furthermore,
with our proposed solution, the item-level data gathered by the item tracking
system can be tied into existing legacy systems (such as Point of Sale),
allowing retailers to utilize many of their existing workflows to gain the
benefits of item-level RFID. This will help in minimizing implementation costs
required for setting up the proposed system |
| |
|
|
|
|
