This technology provides an answer to the new challenges of trade unified providing greater visibility into their inventory and promoting the shopping experience.
Tyco Retail Solutions It has partnered with various industry groups to analyze the value of RFID technology to ensure the accuracy of the inventory and ensure the efficiency of the store. These investigations confirm the use of this technology as the best way to combat the diversion of inventory, increase your accuracy and allow for greater visibility. Thereby, stores respond to the new challenges of unified trade.
IHL Group He conducted a study focused on the problem of the diversion of the inventory within the retail sector. The combination of breakage of inventory (out-of-stocks – OOS) and excess inventory, is a problem that reaches 1,1 billions of dollars in industry.
Because of this problem, retailers can not rely completely on the availability of your stock, What causes a reserved attitude when it comes to exposing items to sell online and offer 'buy online and pick up at store' option (Bopis). This can put at risk the customer experience, causing an average loss of the 8,7% of the total sales.
Visibility in real time
According to the latest study on RFID performed by Kurt Salmon, the retailer looking to deliver greater efficiency to buyers (55%), get better visibility of inventory (33%) and increase the benefits of operation (30%).
Inadequate visibility into inventory makes it harder for retailers to successfully implement unified trade initiatives, due to the inability to cost-effectively meet the demands of customers to "buy anywhere and receive the product anywhere".
The key to achieving efficiency is to have a total and visibility in real time of all the store items and this is possible with RFID technology. Adopt this technology and perform regular counting processes helps retailers to prevent the diversion of inventory, increasing accuracy up to a 99% and keeping it in a 95-99%. With a greater inventory accuracy, the number of buyers who found the desired product increases, being able to grow sales among a 5% and 25%.
"RFID technology-based solutions allow retailers to offer exactly items in stock in real time and get to meet the client's expectations while sales increase", says Brent Brown, Vice President and general manager of intelligence of inventory and IoT of Tyco Retail Solutions.
Benefits of RFID
With RFID technology, the information obtained from the articles is consistent with the inventory.
Recently, Platt Retail Institute He published a report on the quantifiable benefits of the RFID based on an investigation carried out with Macy's and its RFID program.
Macy's has been a pioneer in deploying products with RFID technology and has spent years using Tyco Retail inventory solution.
The study revealed what had happened to have a deviation of inventory of the 4-5% monthly. before implementing RFID technology and perform monthly counts, to a 2-4,5%.
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