RFID Solutions Provide Retailers with Real-Time Inventory Management and Enhanced Customer Experience
RFID technology has endless potential to help retailers gain access to real-time data, make more informed decisions and adapt to the ever-changing world of retail. Here is a breakdown of some of the many benefits of implementing an RFID solution in your store.
Better Logistics & Supply Chain Management
RFID technology enhances omnichannel fulfillment with automated asset tracking throughout the supply chain journey, from manufacturing and distribution to the warehouse and sales floor. Enhanced visibility and control of the supply chain process increases efficiency, reduces human error and creates accurate supply chain records.
Automated Inventory Management & Stock Counting
Managing inventory no longer needs to be a manual and time-consuming process. Compared to the more traditional barcode inventory system, RFID allows retailers to scan hundreds of tags at once without needing to see them.
RFID streamlines the inventory process and complements existing inventory procedures with little to no confusion for your store associates. Simple and regular inventory counts enable retailers to have frequently updated and accurate stock information, giving you full control of your inventory.
Real-Time Stock Availability & Instant Item Location
The COVID-19 pandemic has accelerated customer behavior and expectations for omnichannel shopping experiences. With more businesses implementing BOPIS (“Buy Online and Pickup In-Store”), curbside pickup and same- and next-day delivery, it is critical for retailers to have accurate stock quantities for customers who shop both online and in stores.
RFID technology provides a 99 percent accurate overview of a retailer’s assets and the exact location of items. Real-time item-level visibility of your inventory minimizes out-of-stock situations and simplifies merchandise retrieval for your employees, resulting in increased sales and enhanced customer satisfaction.
Advanced Self-Checkout
As customers look for efficient, contactless shopping experiences, retailers can provide a truly contactless method of checkout with RFID. Friction during the checkout process comes from the time it takes for store associates to scan merchandise and complete transactions.
With RFID technology, items are instantaneously checked out once placed on the self-checkout counter, eliminating the need to manually scan items. This reduces customer wait times and provides them with an efficient, seamless and truly contactless experience.
Integrated Point-of-Sale Data
RFID can be integrated with POS systems, providing real-time inventory visibility. Store associates can see in-stock items at checkout while retailers can use compiled data to track the sales patterns of specific products, allowing you to make more efficient restocking decisions.
RFID can streamline the return process and combat growing return problems. Rather than having store associates manually log returns, items can be processed more quickly, saving the time it takes to get merchandise processed and back on store shelves.
RFID tags conveniently track the history of an item, giving retailers visibility into whether an item was purchased and at what price helping combat fraudulent returns.
RFID as EAS
A retail store’s security system is one of the most effective tools in fighting shrink and deterring theft. Adding RFID technology makes an EAS system future-proof. RFID tags and systems can act as traditional EAS tags and systems but can also store and communicate incredibly useful information for retailers.
If an asset with an RFID tag leaves the store without being paid for, not only will the tag trigger the security alarm, but employees can also see exactly which product left the store, making it easier for them to ensure all the missing items are recovered. RFID tag data also enables retailers to replenish recovered items and not lose a future sale.
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