Stock data anomalies can have a negative financial impact on your retail firm in several ways. Because replenishments are triggered by stock levels in the system—even by the greatest automated inventory management systems—new stock will arrive either too soon or too late if the counts do not match the actual numbers on hand.
In this article, we’ll examine the RFID technology reasons why multi-channel businesses need to monitor their inventory more closely, the problems caused by imprecise stock data, and the surprising time and cost savings that wireless RFID reader solutions may provide.

Retailers Pay More for Manual Stock Counting

A thorough stock count at a warehouse or retail location requires a lot of labor, which adds to personnel expenses and downtime for the business. Moreover, these expenses are incurred each time a count is conducted; hence, the higher the level of precision needed, the higher the cost of stock counting.

Finally, inaccurate stock data may lead to a loss of a sale as well as a tarnished perception of your brand if customers verify in-store stock levels online before arriving.

Retailers Use RFID Technology to Save Time and Money

Retail companies may use RFID (radio frequency identification), a wireless technology, to swiftly and efficiently identify and monitor goods. RFID tags are used to mark inventory. These tags may be read by portable scanners to provide immediate, real-time inventory tracking.

Stock-Take Completed In Minutes

With RFID RIOT RFID Rather than taking hours (or more), a full stock-take may finish in minutes. This implies that you may take stock every day instead of every three months or even once a year. Additionally, since there won’t be a need for extra workers or unneeded downtime, expenses will be minimized and your investment will be recovered soon.

RFID Provides Accurate Inventory Data

Accurate and current on-hand stock positions facilitate seamless multi-channel retail operations by averting lost sales opportunities and enabling more effective purchasing and replenishment choices. It is possible to spot and resolve store losses and inconsistencies. Such as those resulting from theft, damage, inaccurate shipments, or mistakes made during check-out—more rapidly.

Easily Find Stock Using RFID

The portable scanner enables for different zones inside the business. Including the shop floor, window, back office, or storage, as well as multiple locations. It can also display the location of goods instantaneously. Staff members may locate necessary things more easily. Thus, thanks to an interactive search feature that beeps louder as it approaches the object.

RFID Re-Tagging of Your Stock

Although this component seems intimidating, the time investment will pay off in no time at all once you hit play. It can quickly determine what inventory you have on hand. Handle transfers and deliveries with a simple wave of the wand. You may use the scanner to see what’s inside without opening the package.

Conclusion

Although RFID technology has been around for a while, businesses may now more affordably use it. This can swiftly and completely integrate RFID technology with electronic ear tags. Your most valuable asset is your retail stock, and this makes sure you always know precisely how much you have.