RFID in retail comprises RFID tags on products that transmit signals and are received by RFID readers which are then processed by the customized software. This enables generating real-time results for stock tracking, transactions, inventory levels or individual customer purchase order history. RFID in retail simplifies the typical and hectic retails entry process which is almost manually, time-consuming. Item tracking is one of the most wanting ways that retailers use RFID.
RFID in retail can track items that are frequently moved and often misplaced. RFID is also used to prevent theft. RFID technology allows retailers to track their inventory throughout the retail supply chain, from the warehouse selves all the way to the sales floor.
RFID: How it works
At the working level, RFID ecosystems and componentry involve three main elements;
- RFID tags: Store and transmit encode information about individual products.
- Reader hardware (fixed or mobile): RFID tags will send signals and the reader will receive them to “read” and interpret data. An antenna that can be integrated into a reader, or several others that can be connected to increase coverage.
- Supporting software or services: Customize the software to capture the data
Key Benefits of RFID in Retail
The RFID in retail is the heart of every retail store which keeps stores running efficiently, effectively and smoothly. Managing stocks or retail inventory with RFID makes every process easier and faster. Let’s discuss its key benefits;
Boost your business with our RFID Solutions!
1. Inventory Visibility: Inventory visibility ensures that products should always be available in supply to meet customer demand.
- Improved shipping accuracy
- The excellent baseline for advanced omnichannel retailing
- Produces more data for better insights
- Reduces inventory size (and therefore working capital) significantly
- Increased customer satisfaction from reduced out-of-stocks and a more connected experience
2. Supply Chain Traceability: Supply chain traceability helps to improve product visibility. Few more benefits are-
- Item-level visibility across the entire supply chain
- Trace items against individual shipments
- Smoother operational processes
- Track shipments for delivery
- 100% inbound and outbound shipping accuracy
3. Increasing Process Efficiency: Processes will get drastically transformed by the help you RFID implementation. It makes the process significantly faster and more accurate. Some hidden benefits are-
- Cycle counts/inventories
- Fast & Efficient Inbound & Outbound reads
- RFID-enabled picking and packing
- Mobile guided replenishment from backroom to salesfloor
4. Providing Real-Time Data: With the help of an enormous amount of data and using analytics, it will provide insight to the business. It allows retailers to visualize and predict their customer behaviour and sales. Data insight and results such as-
- KPI based performance tracking
- Detailed merchandise data & Analytics
- Operational excellence
- Actionable recommendations
- Compliance tracking
- Eliminates reliance on historical data
- Predictive capabilities for inventory count and merchandise management
2.Best Customer Experience: Using all stored data in the best possible way will help the retailer analyse and predict the future trend. This enables attraction towards the store, customer experience ultimately at high very level. Few benefits are-
- High product availability
- Store associates have more time for their customers
- Convenient omnichannel services
- A connected experience between online and offline
- AI-powered chatbots delivering assistance and product information via mobile.
- Smart fitting rooms providing a hugely improved fitting room experience.
- RFID-enabled Point of Sale – including self-checkout services
AeoLogic Technologies offers the best RFID solutions for all retailers. Our RFID solutions are used for: RFID scan encoding, RFID tag voiding, product locator, inventory control, stocktaking and salesfloor replenishment.
