Theft and perished goods eat profit. RFID can help pinpoint theft as it occurs. One apparel retailer narrowed down and stopped systematic theft by increasing RFID inventory count cycles. Hidden and outdated products are often unsellable. RFID detects when to push items that are about to perish and finds misplaced products.
What percentage of your inventory gets depreciated?
RFID is the technology that can address internal theft. Every item leaves a trace of time and location, even in the back room.
Traditional anti-theft systems only monitor items at the point of exit. RFID monitors items in the whole store and helps to recognize which items are missing and in need of replacement.
Cash in on the unsellables
Outdated items are challenging to sell with profit. RFID ensures that the real-time stock balance is available and in the know at all times. This prevents items from becoming outdated and the risk of being stuck with unsellables decreases.
Stores often struggle with getting perishable products out on the shop floor at the right time and in the right order. With an RFID system, the products are sold while they are in prime-class condition according to the FEFO (first expired first out) principle.
Misplaced items find their way out from the store at full price when RFID helps locate to them before they get outdated or perished.
- Difficult to monitor internal shrinkage
- Out-of-stocks occur due to systematic theft
- Products placed on the shop floor based on First In First Out (FIFO) principle
- Significant reductions in internal shrinkage
- Identifying and preventing systematic theft
- Products placed on the shop floor based on First Expired First Out (FEFO) principle