Everyone has heard about RFID or radio frequency
identification – a technology used for identifying and tracking inventory and
assets. The modern-day footwear and apparel industries are investing in RFID
because it can keep thefts at bay, increase sales, and positively contribute to
customer experience. To know more, please check out the given discussion right
now.
Smart Inventory Renovates Retail
The
experts offering RFID
solutions for warehouse said they make sure to help
the retailers manage their product catalog without any hassle. The resultant
ROI (return on investment) from using RFID is speeding up the migration of the
brand-owners and retailers to a transformational modification inside the
industry. When one notices the change within the RFID markets, they agree it is
a completely
With
more than 300,000 stores and about 40 billion sales every year, the footwear
and apparel industry initially used to deal with inventory through a barcode
system. However, owing to the phenomenal evolution of customer purchase
patterns, unprecedented changes are occurring – ones that only RFID can handle.
Major examples include omnichannel models, step function improvement, immense
competition, etc.
With
a large number of RFID tags already available and with thousands of top retail
establishments using it on a daily basis, you do not have to anymore wonder
whether the technology will work or not. Now it is time to customise it as per
varying requirements and expectations.
Benefits
The RFID solutions for inventory management allow the retailers to know exactly what they possess; thus, they are capable of delivering what the customers want within a stipulated period. This is primarily accomplished because the retailers have thorough knowledge about their current stock.
The inventory accuracy and decreased out-of-stock problems translate into amazing enterprise operations developments:
· The sales escalate in the stores by 7%.
· The reduction in the inventory is between 6% and 11% inside the supply chain.
· The cancellations are reduced by 50%.
· There is no more need for manual counts.
The retailers using RFID enjoy tangible ROIs, which pave the way for plenty of other benefits in their enterprise.
Challenges
The
footwear and apparel industries using RFID also have to face a few challenges.
But these can be eliminated if a retailer agrees to leverage his/her
experience, exclusive strategies, and the global footprint.
The challenges that must be addressed at the moment are as follows:
· How to determine the right kind of RFID?
· How to determine the usage?
· How to build item-level cases?
· How the solutions scale down the road?
· What is the most cost-efficient and non-disruptive way to receive encoded RFIDs?
· What does the integration of RFID with the existing systems look like?
In this amazing new era, the consumers want an experience that will help them purchase products wherever and whenever they want. And they wish to do all this knowing that the sale procedure will suit their needs without hassle. Well, to get RFID for your footwear and apparel store, please rely on an authentic provider who assures quality as well as affordability.
