Using RFID (radio frequency identification) tags in retail stores has a wide range of benefits, both for the owners and the customers.
Although been around since the 1940s, RFID has managed to make a noticeable presence only in the past few decades. Everyone knows it can positively impact sales and track assets without hassle, but is there anything else to know before investing? Continue reading, and you will get your answer.
Inventory Accuracy and Zero Out-of-Stock Situation
Thanks to RFID, the staff at retail stores can scan numerous tags simultaneously. They can check the stock levels and replenish the shelves in no time. Having full shelves all the time meets the requirements and compels a customer to visit a store in the future. Now that is great.
RFID is also responsible for inventory accuracy. Studies have shown that companies using RFID managed to better monitor their inventory. The accuracy level went up from 70% to 90%. By knowing the inventory, retailers can execute an omnichannel approach. Customers nowadays, after all, expect to order products online and collect them from the shop the next day if they wish to.
Supply Chain Management
The experts offering the best RFID inventory solutions suggested that RFIDs can enhance product visibility in the supply chain, from manufacturing to distribution. They let retailers understand whether a product is inside a container, on a pallet, or on the way to the shop, thus providing them with substantial control.
Optimal Shopping Experience
The best thing about RFID is that it has successfully changed how one browses and purchases products. An example is the interactive fitting rooms and mirrors. These identify products through the RFID tags that sync with the store’s stock.
Interactive shopping experiences have impressed a major segment of the population because they allow customers to have a more personal and memorable connection to an item. They also allow retailers to distinguish their brands from competitors.
The above discussion shows that RFID solutions can help store owners and customers.
If you are planning on investing in RFID, you have probably started evaluating the various suppliers. You have also started determining which tags and readers best suit your needs. But it is necessary to first consider your project’s long-term goals. This will promise enough ROIs.
The kind of RFID you choose will depend primarily on the products you sell. It will also depend on the issues you wish to resolve. For example, RFID hospital inventory management will enhance healthcare facilities’ overall mode of operations.
Are you looking for a solution that can track assets and manage inventories? Or do you want visibility over the supply chain and zero theft? Talk to the provider, so you get RFIDs you will not regret down the road. The provider only wants a bit of information about your retail store and products.
Hope the discussion above was insightful and will help you to have a better understanding. In case of any suggestions or queries, please feel free to share with us below in the comment section with us to make it more interesting for others.