RFID stickers are an easy and inexpensive way to track inventory, prevent shoplifting and increase revenue. They’re also a great way to attract new customers and promote your business.
Unlike barcodes, which can be duplicated easily and have no data encryption, RFID labels offer data encryption and physical shielding, making them more secure. They also work in environments that barcodes can’t.
Inventory Accuracy
RFID stickers provide real-time inventory accuracy, a critical KPI for retail businesses. It can increase the speed of delivering goods to customers and help decrease costs by reducing inventory holding times.
Another way that RFID improves inventory accuracy is by helping manufacturers maintain high-quality standards during the manufacturing process. It allows for faster production rates, which can lead to increased revenue.
It’s also an excellent way for retailers to offer buy-online, pick-up in-store (BOPIS) services, which is a customer service that can increase sales and boost foot traffic in-store. With RFID, retailers can ensure they always have the correct inventory for BOPIS customers.
RFID can also be used for internal fraud. It can include sweethearting, a practice where store employees give free or discounted items to friends or other conspirators. It’s a common problem in retail.
Inventory Tracking
RFID stickers are a great way to track inventory in your warehouse. They can help you keep track of stock in real-time and reduce the number of workers needed to count items. They can also help you track inventory in hard-to-reach places and prevent theft.
A common challenge for many warehouses is keeping track of products and assets. It cannot be easy, especially in extensive facilities employing hundreds of people.
When a shipment arrives at your warehouse, each product will have an RFID tag with important information. It is then transmitted to a reader installed within the warehouse to pick up this data and relay it to your central warehouse management system.
You can then use this information to perform advanced inventory transactions and real-time asset counts. It will save you a lot of time and effort.
Another great benefit of RFID is that it can track critical warehouse equipment. It can help your employees know where their equipment is at all times and can help them find it if it is stolen or damaged.
The tags can also track and monitor the movement of expensive tools, forklifts and other material-handling equipment. It can help you avoid losing equipment and give you insight into how frequently employees use the items they have to carry.
If your employees often travel to other warehouses or offices, you can use an RFID tag to track their locations. It will help prevent them from using your expensive items for personal gain and provide you with valuable information about how your team uses the equipment.
Regardless of your business, there are many benefits to RFID inventory tracking systems that make them well worth the investment. First, they can help you manage inventory more effectively and efficiently, increasing your company’s profits.
Deterring Shoplifting
RFID is the latest innovation helping retailers deter shoplifting, a significant cause of retail loss. Using small radio frequency identification tags, stores can track inventory when it goes missing. It allows store managers to determine if an item has been stolen, lost in the supply chain or if it was returned for a refund.
While the technology effectively reduces losses, consumer groups argue it has a privacy risk because it could allow retailers to track anonymous shopper behaviour without their consent. Among other concerns, this would enable retailers to sell that information to third-party sellers or create targeted ads based on shopper behaviour.
The technology is used to tag merchandise articles, such as clothing and footwear, in retail stores to protect them from theft. The tags are attached to the articles, and one or more electronic readers are positioned at exits from the sales outlet.
When a customer removes an article of merchandise from the sales outlet without paying, an alarm sounds at the reader. It allows sales or security personnel to detect and apprehend the shoplifter before they leave with the merchandise.
Increasing Revenue
With a growing demand for omnichannel retail and an ever-increasing focus on improving the customer experience, retailers are turning to RFID technology to make their stores more efficient. RFID is an innovative, data-driven technology that allows for real-time inventory tracking, accurate product location and deterring theft.