RFID making headway in retail industry
The retail industry is defined by inventory management. Businesses must know where items are located, how they can efficiently supply stock where demand is greatest and what to do to make sure these goods are secure to avoid theft. In recent years, radio frequency identification tags have emerged to help brands accomplish these feats.
A recent Vertical Systems Reseller report detailed the potential of RFID tags in the retail sector.
Francisco Melo, vice president of global RFID at Avery Dennison RBIS, indicated the technology has traditionally been used to eliminate fraud and error.
“Those are minor compared with what happens if you improve inventory accuracy from 70 percent to 95 percent and up. Item-level really drives value all the way to the consumer,” Melo said, as quoted by the news provider.
Retailers that want to maximize their use of RFID tags should consider upgrading their point-of-sale systems. Cloud-based mobile retail POS solutions facilitate data accessibility on an organization-wide scale. Cloud suites are available through the Internet, enabling employees to use Internet-connected devices to always view critical information, including order histories, inventory availability and customer loyalty rewards to make informed decisions.
Such capabilities are essential for supporting omni-channel operations, which have become critical for brands to succeed in competitive markets. Customers today are buying goods in person, through e-commerce websites and via devices such as tablets and smartphones. Companies not on their game will struggle to maintain healthy consumer relationships across all sales pipelines.
Jamie Kress, store performance director at Tyco Retail Solutions, asserted RFID tools are the only solution available to achieve almost 99 percent accuracy for omni-channel inventory management, Vertical Systems Reseller reported.
Cloud-based mobile retail POS software paired with RFID tags can help brands thrive in this new-age marketplace.
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