What is RFID?
RFID stands for Radio Frequency Identification, and is technology which allows for the wireless identification of physical items. Learn more. . .
So why do I need RFID for my business?
Ask yourself the following questions:
- When you receive Purchase Orders, are you certain that you have received 100% of your ordered items?
- Are you able to track production issues back to the factory which produced the item?
- How frequently do you perform physical audits for your complete inventory? Do your physical audits correspond with the inventory numbers in your software?
- If you were able to see your inventory in near real-time, with near perfect accuracy, how would it influence your buying and selling decisions?
- Have there been instances when you were unable to find an “in-stock” item, while a customer is in store waiting to make the purchase?…only later to locate the item after the customer has left?
- When shipping orders is each order being verified for accuracy? How is this QC (Quality Control) process being done? Is there any record of changes? Are you confident that the orders are being verified accurately before shipping?
- Do you sell your product on multiple platforms simultaneously? How do you update your inventory in these systems?
simply changing the game
Our customers have reported increases of “30-40% in revenue” thanks to RFID’s real-time inventory visibility. This up-to-the-minute data provides insight that can dramatically affect your decisions.
What are the benefits of using RFID for your company?
- Complete supply chain trace-ability.
- Increased Sales and higher margins (Retail businesses using RFID typically experience a 4%-20% increase in sales per location).
- Reduced stock allowing for greater working capital (Estimates show Vendors can hold 10-20% less stock on-hand to meet the same demands).
- Maximize Space Efficiency (Reducing the number of SKUs per square foot by 10%-50% deploying thinner stocks and replenishing more frequently).
- Decreased inventory shrink (order discrepancies, theft, etc.).
- Reduced Auditing Costs/General Labor Costs. (Yearly auditing costs per location range from $3,000-$30,000).
- Accurate real-time data allows for better forecasting and analysis.
- Today’s Omni-Channel sales landscape with its many moving parts calls for greater inventory accuracy.
My company currently tags our product with barcodes. How do barcodes differ from RFID tags? And how do I add RFID to my current process?
Barcodes continue to be widely used and serve a critical role in auto-ID and automation by allowing for rapid collection of data, for example at a grocery store check-out. RFID is not a replacement to Barcode, rather it is a complement. Below is a comparison between Barcode and RFID.
Barcodes must be read manually, one at a time.
Barcode scanners must physically “see” each label to read that barcode. Additionally, the tag must be aligned correctly with the reader.
Barcode auditing is time consuming—this process of utilizing barcode scanners for auditing inventories is very slow and cumbersome. This is a time and labor-heavy task since each tag must be located, and read. There is an inherent risk associated with accuracy as well. A tag can be scanned twice, or missed completely and the software will not know the difference.
Barcodes read products at the SKU level. This means that it does not have the ability to differentiate between two of the exact same product.
Barcode readers can’t edit a tag. Requires printing a new label and replacing the old one.
Barcodes are unable to be read if image is damaged or printed poorly.
Barcodes are much easier to reproduce or counterfeit.
RFID reads tags fast! 100’s per second can be read simultaneously.
There is no need to know the direction of the products inside the boxes–only that the item is in read-range. RFID provides the unique benefit of not needing “line-of-sight.”
RFID tags are serialized. This means items are tracked on an “each” level. This allows for many processes to be essentially automated once they are set-up.
Tags can be read, written to, and re-written/modified. The tags are discreet and able to be embedded into packaging to provide a reliable enclosure.
Due to RFID’s accuracy, banks accept RFID audits as a valid form of inventory accounting.
Tags can be searched and located via audio and visual cues allowing you to find a “needle in a haystack.”