NEW YORK, Jan.6, 2022 (GLOBE NEWSWIRE) – Today’s omnichannel selling environment is forcing retailers to sell reliably through their website, store and apps. In addition, they are responsible for delivering the products to stores and by direct shipment from stores or warehouses. In practice, this means that retailers need a sophisticated backend that maintains reliable inventory information by location. RFID’s Wave Inventory System is proving to be the fastest and most accurate way to keep track of assets and inventory, reducing inventory count error from 25% to just 5%.
“Innovating in the inventory space to reduce errors helps avoid costly consumer issues,” said Carl Brown, CEO of SimplyRFID. “Retailers work hard to earn the trust of customers, and the Wave inventory system can help maintain that loyalty while reducing employee workload. “
The importance of accurate inventory tracking was underscored in Gartner’s November 2021 Retail Excellence Report, which advised retailers to “develop capabilities to improve store-level inventory accuracy at the retail level. products by changing counting processes and investing in RFID technologies ”.
But achieving inventory accuracy at the individual product level is a challenge. Typically performed at three-month intervals, manual inventory counts result in 90 days of inaccurate information. Large retailers like Macy’s are reporting an estimated “slippage” of 3% to 4% per month, indicating that a retailer’s inventory is 12% below expectations. Manual counting products can also be labor intensive and time consuming, occupying employees for an entire day or more. In addition, manual counts are often inaccurate by up to 13%.
The Wave Portable RFID Reader is a quick and inexpensive way to take inventory. The Wave pulls inventory lists from SimplyRFiD Pogi for quick and accurate inventory. It records the expected inventory list, analyzes the label tracking differences from the previous scan and synchronizes all portable scanners with management reports.
SimplyRFiD Pogi integrates with the retailer’s omnichannel systems such as Blue Yonder, Shopify, Quickbooks, and New Store. A built-in feed called “In Stock” allows the retailer to quickly publish results by store location.
About Simply RFID
SimplyRFID is a software and hardware development company that manufactures radio frequency identification tracking systems. We track millions of computer servers, trash cans, drugs, military equipment, and old laptops around the world.
Image 1: Retail inventory using SimplyRFID
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Retail inventory using SimplyRFID