RFID tags have a unique inlay that stores and transmits data. They’re similar to barcode labels or price tags but have a long-range radio transmitter.
Using RFID, retailers can track inventory at the item, carton or pallet level. This real-time data negates the need for time-consuming stock takes and produces far more accurate results. For quality Ramp RFID stickers, check this out.
Cost-Effective
Using RFID labels can save businesses a lot of time in the back and front office. They can track inventory, assets and equipment as they move from warehouses to stores. It can eliminate the risk of human error when workers scan barcodes by hand or write down data manually.
This technology also helps eliminate waste in production and distribution. It gives business managers transparency in stock movement and enables them to scale production up or down based on real-time data. It can save on overhead costs, increase profitability and improve bottom-line results.
Increased Productivity
In addition, the extreme transparency offered by RFID technology eliminates many costly risks, such as theft, loss and misdistribution. Companies can also streamline inventory and warehouse operations by eliminating the need for employees to be within line of sight to locate a product.
For example, with RFID tags, a forklift carries a pallet into the warehouse, and a system of antennas automatically identifies the pallet’s contents—no barcode scanner is needed. It makes the racking process faster and ensures no pallets with goods are misplaced.
In retail stores, RFID tags can make stocktakes 25 to 30 times faster than manual counting and produce far more accurate results. For instance, with RFID, the Australian fashion brand Rebel Sport reduced its on-shelf inventory costs by 20%. THEREFORE, the ROI for introducing RFID across stores can be seen almost immediately.
Increased Customer Satisfaction
Whether it’s online or in-store, customers expect seamless experiences. A single misstep during checkout can significantly affect the company and the consumer. Fortunately, item-level RFID technology has been shown to increase inventory accuracy and reduce out-of-stocks, improving customer satisfaction.
Global retailer Walmart is advancing its RFID mandate, requiring home product manufacturers to include RFID tags on all goods shipped to stores by September 2022. According to Gartner analyst Sandeep Unni, the move is likely to prompt further adoption of the technology.
The ability to quickly find and deliver items improves employee engagement, which boosts customer satisfaction. A survey revealed that companies with highly engaged staff have 147% more revenue than those with low concentration. Adding item-level RFID technology to your supply chain enables employees to deliver a superior customer experience while reducing costs. It is the ultimate way to win business. It also improves inventory visibility, making it easier to manage omnichannel operations.
Reduced Waste
If you’ve ever watched a garbage truck haul away a pile of empty boxes or a container filled with expired produce, you know that waste is a significant problem in many cities. Tagging refuse or recycling carts with RFID chips makes it easier for city crews to identify and track the containers. It helps reduce the amount of time spent on collecting and sorting waste. For quality Ramp RFID stickers, check this out.
Grocers can also cut food waste by using RFID to track inventory. By knowing when an item is nearing expiration, grocers can more quickly mark it down and donate or dispose of excess stock.
Despite the many benefits of RFID, it’s important to remember that these tags are a part of a surveillance society. To address this, we ask manufacturers and retailers to consider a moratorium on item-level RFID tagging until there is a formal technology assessment process with consumers and meaningful consumer control. We also ask that these tags be given a “kill option” so they cannot be reactivated and used to monitor people.
RFID stickers or tags have a special inlay that an RFID reader can read to identify objects and people. The technology is similar to barcode labels or price tags, and it’s used for a variety of applications, including inventory tracking and supply chain management, access control and payment cards. It’s especially useful for items that move frequently, such as inventory in warehouses and distribution centres or equipment on a construction site or shipping container.
