In today’s fast paced retail environment, to remain competitive and profitable it is important that retailers and brand owners have a high level of real time visibility of inventory throughout the supply chain and including the retail shelf itself. Accurately tracking products from the manufacturer and through the DC’s in combination with a good alignment with backroom replenishment processes are critical in addressing and improving operational concerns such as inventory related costs associated with cycle stock and safety stock levels.
To be successful in managing inbound and outbound operations as well as in stock and out of stock inventory, retailers must have a way to streamline their processes that will enable them to improve operations and efficiencies on all levels with the end result of increased sales and revenue. Major retailers are looking at multiple areas in their supply chain and at store levels that the integration of RFID into these operations could provide opportunities to make significant gains in speed and accuracy as well as multi-channel inventory management.
Intermec’s RFID enabled printers, INtegrated RFID labels, and rugged RFID mobile computers enable end to end visibility of movement throughout the retail supply chain. From pallet and case labeling to item labeling at the manufacturer level or through the DC’s, Intermec’s RFID label products provide benefits resulting in increased accuracy and consistency of order shipments and reduction of misplaced items and inventory shrink. Through the use of RFID and EPC codes (electronic product codes) for item level tracking, information specific to the item gives detailed visibility as to when the item was produced, how it got from the production line to the DC and ultimately to the retail location.
Accuracy is critical to ensure the right SKU is available to meet consumer demands. The ability to walk through product displays and immediately conduct inventory counts in reduced time lowers labor hours. Non line of sight data collection that RFID provides empowers retail managers to accurately identify SKU data for precise features to prompt the redirection of product to the right location in the minimal amount of time.
RFID enables improved management and reduction of out of stock situations which ultimately enhances the customer experience and promotes repeat business and customer loyalty through higher product availability. In addition, the use of RFID labels in the supply chain can significantly reduce the amount of counterfeit products in the marketplace by providing the capability to authenticate items as they move from the manufacturer to the retailer.
RFID management of assets like returnable totes or containers also results in greater loss prevention and increased profitability. Through the use of Intermec’s High Performance RFID tote tracking label solution customers have realized a significant reduction in container replacement costs.
To learn more about about RFID solutions tailored to your retail industry needs, visit https://www.gammasolutions.co.nz/retail-consumer-goods/.