5 Advantages Of RFID In Retail
Continuing on with our five-part series in which we review the advantages of RFID within several industries, we examine the advantages RFID is prividing the retail industry:
Inventory Shrinkage (Shrink) Reduction
- Track retail items between point of manufacture or purchase from supplier and point of sale.
- Real-time notification of security when RFID tagged items leave area without payment
- Competitive advantage – saving money on theft allows to offer product at lower prices
RFID Smart Labeling
- Monitor unattended inventory
- Automatic item identification on mixed pallets
- "Smart Shelf" systems – designed to provide real time tracking and lovating of tagged items on shelves
- Shipping and Receiving applications
Shelf Stocking
- Real-time notification of out-of –stock items
- Improvement of product replenishment
- Retention of consumers who may turn to competitors if inventory item is out-of-stock
- Automated charting and tracking for improved product forecasting
Check-out Process
- Reduce time spent in line
- Reduce labor/time cost of employees
- Streamline check-out process with ability to scan multiple items and pay for them all at once
Overhead Reduction
- Track product shipping and receiving from point-to-point automatically versus manual tracking to save time and labor cost
- Know how many units of inventory or on-site via automated RFID system versus manual process, saving labor and time cost
- Efficiency in error reduction reduces manual labor cost
SOURCE: Zebra Technologies Corporation
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