The possibilities of RFID tracking raise a new set of challenges for businesses: how different would things be if they sold ten times the number of items they sold today? With RFID, it’s possible.
Across a number of industries, RFID tracking technology is transforming inventory management. Companies are achieving levels of efficiency never before possible, with organizations left to worry about how to handle inventory turnover rates of up to ten times greater prior to introducing RFID. RFID helps make the most of where a business sells, and the type of product sold; inventory turnover is all about efficiency, which results in higher profits. SimplyRFID is helping introduce businesses to how they can discover new ways maximize profits with RFID technology:
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Managing Auto Inventory with RFID: Most auto dealerships share similar challenges: massive lots, hundreds to thousands of cars in inventory, test drives, and keeping track of them all. Like any other inventory, cars can be just as easily misplaced; it’s essential for auto dealerships to not only maintain accurate inventory counts, but do it efficiently.
A low-cost RFID hang tag in the windshield can save potentially thousands of man hours a year. Easily readable from over ten feet away, an associate can inventory 1,000 cars — what can typically take up to eight hours — in just 20 minutes.
RFID in Retail: Whether a company is a retailer, or supplier to a retailer, integrating RFID solutions into the process can help them grow their profits through increased sales, and both efficiencies and cost-savings.
For retailers, RFID technology ensures that every product is available in the right size, making the most of every square foot in a retail space. Stores utilizing RFID outperform stores that don’t; if an item isn’t in stock, a customer can’t buy it!
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Suppliers dealing with quantities scale can see the huge cost-savings over larger periods of time. The accuracy provided by RFID makes it possible to ship large volumes of product with a high degree of accuracy. Ensuring shipments of hundreds of thousands of items is accurate requires an automated solution.
RFID in the Wine Cellar: Removing a bottle from the rack, scanning its barcode and returning it seems simple enough, but when a business needs to inventory thousands of bottles, it can be time-consuming; moving wine during inventory can affect the aging process and hinder the final product. When it comes to sorting new vintages, finding a misplaced bottle, or locating a very specific wine among thousands, RFID makes it effortless. When the wines are tagged, the data is easily searchable on the handheld Wave device. Keep track of the entire bottle count by SKU, variety and year, or locate something more precise by region, brand or bottler.
Take a look at the RFID Cookbook for more specific examples and ideas on how businesses can increase profits with RFID Tracking.
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