RFID adoption soaring across the retail sector, market study suggests
The adoption of RFID-based access control and inventory monitoring/management solutions is growing at a steady pace across the retail sector, a new ChainLink Research report, sponsored by Tyco Retail Solutions, has revealed.
According to this market research paper, the 120 retailers from the Americas and Europe that were interviewed as part of the survey cited as the three top reasons behind their decision to implement RFID-based solutions the opportunity to improve inventory accuracy, reducing out of stocks (OOS) and increasing on-floor availability.
By adopting inventory management solutions using RFID technology, stores’ inventory counts become 25 times faster than in the case of traditional, manual bar-code scanning.
Additionally, cycle counting improves inventory accuracy, typically by 20 to 30 percent, allowing retailers to achieve 99 percent inventory accuracy. This, in turn, enables replenishment alerts to be reliably generated, thereby increasing on-floor availability and decreasing out-of-stocks, typically by 15 to 30 percent.
“Software applications that can be integrated into retailer IT systems and that are user-friendly at the store level are now available. There are many more experienced implementers who understand the pitfalls and how to avoid them. RFID providers have evolved to more of a complete solution approach, rather than requiring such heavy-lifting component-by-component integration, engineering, and customization” the report’s authors say.
Tensor plc supplies a variety of RFID-based solutions for time and attendance monitoring and access control.
Fast, accurate and easy-to-use system to record employees’ hours of working and site attendance. Suitable for organisations employing just a few people, right up to large multinational, multisided businesses – Our Time and Attendance software handles all your Time & Attendance needs in one Integrated Security Management System.
Tensor’s contactless Smart Cards, Key Fobs, or Fingerprint Biometrics provide the fastest and safest method of recording attendance.
If you’d like to find out more about the range of RFID solutions supplied by Tensor, just contact us or Book a Demo, our representatives will be more than happy to answer any questions and queries you might have.
