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In the era of digital wave, the use of bar code RFID system can improve inventory accuracy to 95%

Release Time:2016-08-18

In the era of digital wave, adopting effective technology is crucial to the success of retailers. Today, many retailers face challenges in visualizing their in-store inventory. As retailers continue to open more physical stores, further expand overseas markets, and use online platforms to diversify their business, the challenge of in-store inventory visualization is gradually intensifying; retailers' demand for real-time supply chain visualization has become more urgent.

　　

 

Overstock, out-of-stock and wear and tear can cost retailers around the world $1.1 trillion. McKinsey & Company estimates that retailers can save 10% of their inventory costs simply by reducing the occurrence of overstock and out-of-stock situations.

Technological advances in areas such as machine vision, RFID, and data analytics allow retail employees and customers to remotely view retail inventory and track product shipments, improving business visibility and ensuring the accuracy of data fed back into the system. Currently, inventory accuracy reported through retailer inventory management software is only 65 percent.

In contrast, the use of barcode RFID systems can improve inventory accuracy to 95%. The application of item-level RFID has been shown to reduce the incidence of stock-out situations by 80%. Accordingly, Zebra's research also shows that 70% of retailers have plans to adopt or are adopting item-level RFID systems to improve the visibility of their supply chain and save more inventory-related costs. For example, according to the feedback of clothing retailers, by upgrading the commodity counting method from manual counting to RFID automatic counting, the workload can be reduced by 75%. This also allows the store to more effectively allocate the staff's working time, so that they can be responsible for more important work tasks.

Retailers can take inventory visualization to a higher level by further automating the supply chain. According to Zebra Technology's research, by 2021, 87% of retailers will be able to receive active inventory out-of-stock alerts from the system. 78% of retailers will deploy product positioning equipment; 76% of retailers will conduct video monitoring of inventory.

For the retail industry, an exciting new era is coming. Please click here to http://www.xingyongli.com/case/newsCategoryId=13.html,了解条码系统技术管理解决方案的更多信息 。