RFID minimizes risk in retail sector

By: Teamwork Retail

Companies, regardless of industry, are always trying to minimize risk in the workplace. For retailers, this strategy involves inventory management and visibility, which has become challenging as businesses incorporate more channels into their sales offerings.

In an interview with Integrated Solutions for Retailers, Kurt Mensch, principal product strategist at Honeywell Scanning & Mobility, explained companies require new technology as they move toward omni-channel retailing. This is especially true since extending themselves can cause additional risks, which may be minimized through the use of radio frequency identification tools.

“RFID is being used throughout the supply chain to provide visibility into the movement of goods from manufacturer to retailer. The technology has helped improve the efficiency and visibility into not only the last mile of delivery from warehouses and distribution centers to the stores, but also the last ‘few feet’ at the point of the consumer,” Mensch told the news source.

Mensch added that businesses able to understand their inventory at every step will be better off from a profitability standpoint. Companies using these solutions can more accurately determine their physical space requirements to make more informed and quicker decisions.

Updating point-of-sale systems is another way retailers can achieve greater efficiency throughout the business. Cloud-based omni-channel POS solutions enhance data accessibility, allowing employees using PCs, tablets and smartphones to view information in real time and stay on top of consumer purchases as they happen.

This level of insight, paired with item tracking from RFID tags, allows staff members to check inventory levels, customer rewards information and any other data essential to offering personalized service to shoppers, regardless of whether they prefer to buy items from brick-and-mortar stores, e-commerce sites or mobile devices. This support is essential to strengthening the brand/customer relationship.

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