RFID solutions for retail maximize sales opportunities and ensure product availability
Benefits of RFID in Retail:
✔︎ Faster, smarter replenishment of sales floor
With RFID, the sales floor can be quickly scanned and “pick lists” automatically generated, making it easier to keep stores properly stocked. Store managers can even be alerted when the amount of “putback” merchandise in the fitting rooms gets excessive.
✔︎ Greater inventory accuracy
Retailers who base their statistics on total piece count typically underestimate the variance between POS-driven figures and their actual on-hand positions. Instead they should be measuring accuracy at the SKU level. RFID is enabling retailers to elevate this to 99 percent or more.
✔︎ Greater location visibility
RFID tells you what is or is not in stock and where it can be found in the store. In many cases this shortens the time spent searching for merchandise or eliminates trips to the stock room.
✔︎ Expedited receiving
Receiving can be automated, meaning cartons can be processed in minutes, allowing new shipments to become sellable sooner. RFID can even be used to flag or locate cartons with merchandise that needs to get rushed to the sales floor immediately.
✔︎ Fewer items sold at markdown
A surprising number of items never reach the selling floor until they have already hit their first markdown. Not only is this a lost revenue opportunity, your labor must be devoted to locating and re-ticketing merchandise slated for markdown.
✔︎ Identifiable and reduced shrink
The ability to count your inventory once or more each day allows you to detect shrink more effectively; and then take action to reduce. Since each item gets assigned a unique serial number, RFID lets you spot backward-moving merchandise to better deter dishonest employees. RFID can also be used to defend against dishonest customer activity in fitting rooms.
Inovity is experienced in retail RFID solutions. If you want to know how your retail operation can have more visibility, greater efficiency and better customer service, contact us today.