RFID technology is most thought of as a means to heighten retail security by tagging goods and having readers places at entrances. However, savvy brands are discovering that radio frequency identification technology can garner significant improvements with your inventory management strategy. CONTROLTEK is a leader in RFID technology for inventory management, providing custom solutions to help organizations of all sizes achieve their goals.
What is RFID Inventory Management?
RFID inventory management, also known as RFID stock control, is the process of managing products in a storefront by using RFID tags that are applied to goods in which readers can detect them and capture any necessary data, in conjunction with custom software solutions. Together, these comprise of RFID systems. The best RFID systems for inventory management will precede the standard course of stock materials. CONTROLTEK offers RFID inventory management systems that will minimize an organization’s carrying costs by, in an automated manner, gathering data, orchestrating records, and running calculations. This will create business efficiency, as well as garner time saving and cost saving measures. RFID inventory management solutions provides help to wholesalers, manufacturers, distributors, and retailers searching for ways to optimize the way inventory is governed.
Inventory management systems powered by RFID technology dictate the process of managing all outgoing and incoming inventory within a retail atmosphere. These systems slash a great degree of time that’s typically spent on tasks such as cycle counts, manual refill calculations, and physical inventory. RFID inventory management also helps to fuel on-shelf availability through critical zero correction, and backstock monitoring.
Regarding RFID, radio frequency identification lends to the digital data encoded in tags that transmit signals picked up by readers via radio waves. A device captures the data and stores it in a database that transfers through a communications interface to a hosting solution where the data can be read and analyzed.
RFID Inventory Management Automates Time Consuming Tasks
Many retailers still manage their inventory using traditional manual techniques. Physically locating, doing inventory counts, tracking product quantities, and other tasks that fall into this wheelhouse of responsibilities takes multiple workers, it requires a great degree of time, and lots of manpower. However, with the right RFID inventory management system put in place, organizations can save a tremendous amount of time while freeing up personnel, removing the risk of human error, and it also provides a more cost-effective solution. RFID tags send signals to a reader letting management know exactly where an item is located, how many items are in stock, and how many need to be ordered to maintain the target stock inventory number. RFID inventory management systems also let teams know where products have been moved, and what stage they are at in the operations chain. If products are being moved to another building, or to an external holding facility on the property, the right RFID inventory management system will be able to reach every square foot of your entire property, whether it in a large warehouse on a separate floor, in an external storage unit, or even if it is being moved by heavy machinery and in in transit to another location in your facilities. The system can also be designed to let team members know when stock volume needs to be replenished under the canopy of full-scale tracking capabilities.
What are the Three Biggest Value Points that RFID Inventory Management Solutions Brings to a Company?
As discussed, using RFID inventory management technology offers multiple benefits. CONTROLTEK is a leading US supplier of the best RFID inventory management systems, and the feedback that we get from our partners that made the switch speaks volume. According to data collected from our customers, here are the top three benefits that enables the RFID system to pay for itself by enhancing production and slashing operational costs:
- Reduced Labor Costs – According to data collected from our clients, their labor costs accounted for as much as 50 to 80 percent of their distribution center costs. One their RFID inventory management system was set up and active they were able to perform inventory check in and counting and shipment verification in a fully automated process that works instantly. This was all possible while only running a few scans as opposed to having a large team of workers processing everything in a manual method. Once their accounting department weighed the cost of running the RFID solution against the internal savings, it was a clear no-brainer that they made the right investment.
- Faster Scanning and Better Visibility – Since RFID tags don’t require a line of sight (something required for scanning barcodes) scanning items is extremely fast. It is possible for readers to collect the data in RFID tags at a distance for extremely fast inventory processing. Companies using RFID inventory management solutions by CONTROLTEK reported that using the system in any orientation gave teams heightened visibility into the details of their inventory allowing them to give more frequent updates and scanning locations to other departments, which improved productivity overnight.
- Returnable Assets Tracking – A large majority of companies use returnable assets fleets such as shipping containers and pallets, and each one represents a sizable capital investment worth protecting. When using RFID inventory management systems employees can trach assets throughout the entire supply chain loop and shed heightened visibility on all inventory locations. As a result, neglect, theft, and returns are minimized.
Call CONTROLTEK to Learn About the Custom RFID Inventory Management System that Will Revolutionize Operations
Investing in the right RFID tags, readers, software, and other components in of itself requires strategic planning, as no two companies and their needs are the same. When you call CONTROLTEK our experts will work with you to piece together the best custom RFID inventory management system designed to help you achieve all your goals. Call today and tap into the advanced capabilities that smart inventory management powered by RFID can bring.