RFID in retail: are you making the most of them?
More and more retailers are discovering the advantages of Radio Frequency Identification RFID retail solutions. RFID tags in retail clothing items give you real-time insights into stock levels and you can instantly share this information with the warehouse. This increases the accuracy of your inventory counts compared to doing it by hand. Using RFID in retail supply chain processes also makes omnichannel replenishment much easier to manage. In short: logistical processes become much more efficient and less error prone. But how do you make the most of this improved accuracy?
Higher profits through higher stock reliability
RFID tags in retail clothing improves inventory counts, but making sure the right stock is replenished is another issue altogether. Because even if your inventory counts are as accurate as possible, if your stock is lying in the wrong spot, you can’t make any money off it. Many retailers use standard size curves and 1 to 1 replenishment. If a certain item in size S is sold, the same article is replenished. But are you achieving your full sales potential by doing this? What if you sent not 1 but 2 items in size S to this store? You might sell both of them! Read more in our blog ‘Do you have your stock in the right place?’ .
Achieve your full sales potential with dynamic replenishment
Smart Supply is stock optimisation software that offers dynamic replenishment. After the first allocation, the software uses an algorithm to determine the highest sales potential per SKU (Stock Keeping Unit) for each sales location. Items are sent to the stores where the demand for them is the highest at that moment. Our market approach is based on the principle that ‘the consumer is the heartbeat of the supply chain’. Stock is replenished based on the actual demand from the consumer. Redistributing stock, saying ‘no’ to customers and excess inventory are a thing of the past. Imagine what this could mean for your turnover and operational costs! Smart Supply helps you get the most out of RFID in retail supply chain processes.
Interested in RFID retail solutions, Smart Supply or a combination of both that can produce better results? Get in touch with us to find out more