Tracking Inventory With RFID Technology Business
We've got some great deals going on right now exclusively for our online customers... chat now to hear more! Real-time tracking inventory with RFID technology,Author: Sue Poremba,Retailers may already be familiar with real-time radio-frequency identification (RFID) technology thanks to contactless credit cards, but there's more to RFID than offering an easy way to pay for merchandise. Retailers can use RFID tags for tracking inventory and to from stock levels to customer order history, all in real time. How does RFID work?,RFID is a technology with code embedded into tags or labels that radio waves then send to a reader device. It is part of the (AIDC) technology family, and it uses automation tools to identify, track, store and verify an array of products. The most familiar AIDC technology is the barcode found on just about every item today, but it's also the basis of RFID. RFID technology is used across most industries, often in subtle ways, such as employee badges that grant access into a building or restricted area. Businesses can use RFID integrated with GPS to integrate a (CMMS) to track and manage assets, both on-site and spread across locations. This is particularly helpful for companies with large vehicle fleets or remote sites with or needs to be managed from a distance. How does RFID work in retail?,As an inventory tracking system, RFID offers visibility throughout the entire supply chain journey. But RFID has in retail: tracking inventory, store operations and in-store product patterns. Tracking inventory,An RFID inventory tracking system helps provide accurate, real-time inventory availability data for buy online, pick up in store (BOPIS) or buy online, ship to home sales. Tracking inventory with RFID tags helps stores know what is in their inventory at any given time, so retailers are less likely to be caught short on popular items while more easily identifying which items are not selling very well. When new shipments arrive in the store, they are instantly entered into the inventory system rather than requiring an employee to individually scan each item's barcode. The inventory within the store can also be produced quickly for audits. Store operations,For the second primary use case—store operations—store floor space is limited, and retailers want to offer as diverse a selection as possible for customers. But as any shopper knows, it can be frustrating to search through a selection of popular products only to find everything except the exact one a customer needs. How does RFID work in this case? The technology can alert store employees to the missing size/color/design on the floor or can direct them to find it quickly in the stockroom. As more customers are ordering online for in-store pickup, RFID tagging can offer quick and accurate product updates so that customers know if the item they want is out of stock or on order. In-store product patterns,While the two above areas may seem like clear-cut uses for RFID technology, retail managers who use RFID for in-store product patterns are thinking outside the box. Tracking inventory through RFID offers retailers a glimpse at how shoppers move around the store, which means displays can be set up to maximize purchases and improve the overall shopping experience. For example, will a shopper be more likely to purchase a pair of sneakers if they're located closer to athletic wear, or does that shopper purchase more items if they have to walk past the jeans and sweaters to get to the shoe section? How does grouping ingredients for meals improve the grocery shopping experience? RFID can help create the right flow throughout the store and may , which could increase sales. How does RFID work beyond inventory?,Tracking inventory efficiently is a top benefit of RFID tags. With better inventory control, RFID gives retailers more control over their profit and loss margins. But control over these margins goes beyond tracking inventory. RFID tags let retail management track:,RFID technology can take retail into the age of digital transformation. Digital enhancements that only improve the customer's shopping experience, and in the end, it improves the retailer's overall profit and loss margin. If you'd like to receive new articles, solutions briefs, whitepapers and more—just let us know. . * Indicates a required field. We will follow up from your contact request using the information provided. Choose your country to view contact details. Manage your account or get tools and information. These cookies are necessary for the website to function and cannot be switched off in our systems. 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