TECH & AI
She says : “ Accurate , real-time data about inventory in a retail store can then be made available to online shoppers . Retailers will reap the cost-benefit by shipping from the location nearest to the customer , decreasing the need for excess warehouse space , increasing inventory turnover , and avoiding markdowns .”
Meyer says that sportswear giant Nike tracks “ more than 1 billion inventory units at 99.99 % readability across all stores ”, and goes on to quote Nike ’ s CEO , John Donahoe , who has called RFID “ the most precise tool to meet customer-specific needs at the exact right moment ”.
Moving on to food retail , Meyer adds that it ’ s RFID that allows for food to be tracked from field to store , for a fully visible , traceable supply chain providing customers information about the provenance of their food and producers traceability in the event of a product recall .
As well as helping satisfy the online and in-store needs of individual consumers , RFID is also helping retailers with more accurate demand forecasting .
Demand forecasting ‘ easier with RFID systems ’ “ RFID is 25 times faster than manual barcode scanning and is 99 % accurate ,” says Meyer . “ This level of inventory accuracy and insight allows retailers to sell down to the very last item , better managing loss and more accurately forecasting demand .”
On this front , Meyer offers the example of fashion retailer Zara , which has RFID integrated into its stores .
“ RFID is an integral part of the company ’ s technology strategy ,” she says . “ It has changed how it operates its stores . Before using RFID , ZARA employees undertook inventory checks once every six months by scanning each item ’ s barcode , which
“DELTA AIRLINES USES RFID TO TRACK PASSENGER BAGS FROM CHECK-IN TO PICK-UP ”
GAYLENE MEYER VP GLOBAL MARKETING & COMMUNICATION , IMPINJ
124 June 2022