RFID technology streamlines inventory management so that all items are known and visible throughout the supply chain. With this insight, you are able to boost your business as you replace assumptions with observation, estimates with facts, and confusions with certainty.
RFID provides insight into your business
RFID (radio frequency identification) is used to identify and register individual objects, including items. The technology is controlled by radio waves that communicate between a tag on the item and the RFID reader. RFID technology identifies the location and number of specific items in record time – even if the item is in the backroom or in a cardboard box.
RFID for inventory management can solve a known challenge in the retail industry, where many retail chains experience insufficient insight into the inventory in the stores and in the warehouse. The lack of overview ultimately makes a bad influence on the overall customer experience.
Read about three reasons why RFID boosts your business below.
#1 RFID transforms your inventory management processes
Replace your old, manual inventory counting methods with automated hands-free RFID technology that provides insight and overview of your inventory. Accurate inventory data ensures the right fact-based knowledge base to be able to make the best decisions for your business.
With the right insight into your warehouse, you can avoid excessive inventories that you need to spend unnecessarily many resources on storing and handling. This way you will avoid having dead items that are now out of fashion or season. At the same time, you get automated messages that make it easy for staff to see exactly which items are missing where.
Discover how RFID helped Vibholm Jewelry obtain quick ROI.
#2 RFID strengthens customer service
Today, consumers expect to have a shopping experience with easily accessible information, instant customer service, and easy check-out. If your stock numbers are uncertain and unreliable, every item will not be visible on the floor and in the warehouse.
Increased inventory insight makes it possible to make all items available to your customers, no matter where they want to buy. At the same time, it provides the best conditions for good customer service when the sales staff can spend less time searching for product placement and availability. When all items are available on all platforms, it is easier for your customers to locate where they can find the items with certainty.
#3 RFID for loss prevention
If you have several stores and inventories, it can be difficult to track all the losses that may occur. With integrated inventory management for POS, you can identify items, location, and movement data. Knowing where each item provides an intimate insight into how products move. This insight allows you to prevent lost sales due to lost inventory.
RFID can also be used for loss prevention in warehouses and stores. By knowing the location and movement patterns of each item, you can become wiser about blind spots and details of the theft. With the exact time and place of the item’s disappearance, you can more easily supplement your report with video recordings.
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