What is RFID???
RFID stands for Radio Frequency Identification, and is technology which allows for the wireless identification of physical items. It allows for near real-time inventory data collection, only recently feasible. This new real-time inventory insight will impact every element of your business. RFID Allows:
– Ability to count 100’s of items per-second
– Read accuracy of over 99%
– The ability to count products without seeing them. This means it is not required to have line-of-sight to the tag, as in the case of Barcodes.
– This technology can be used to guide to a user to a desired item, via audio and visual cues
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, and near perfect accuracy, how would it influence your buying and selling decisions?
- Have there been instances where a salesperson is unable to find an item “in-stock”, 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 Master inventory, responsible for updating all others?
simply changing the game
Our customers have reported increases of “30-40% in revenue… (due to) real-time inventory visibility”. This up-to-the-minute data provides analytics and insight, that can dramatically affect your inventory decisions.
We bring these benefits of RFID to your company:
- Complete supply chain traceability
- 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.
- Todays’ Omni-Channel sales landscape, with many moving parts and partnerships, calls for better inventory accuracy.
- Increased sales
Question: My company currently tags our product with barcodes … How do they differ from RFID tags, and how do I add RFID to our current tags and software?
Barcodes continue to be widely used after years of use. They 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 we have listed a comparison list between Barcode identification 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.
simple.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 RF read-range. RFID provides the unique benefit of not needing “line-of-sight.”
simple.RFID provides a serialized sensor for each item in your inventory. This means items are tracked on an “each” level. The system can essentially run automated once it is is set-up.
Tags can be read, written to, and re-written/modified.
Discreet and able to be embedded into packaging to provide an extremely reliable enclosure.
Serialized data allows for item-level trace-ability across your entire supply chain, allowing for tracking of each unique tag in inventory populations of millions at every point.
Since banks accept RFID as a valid form of inventory accounting, customers are able to validate inventory to accredited institutions such as banks to leverage capital.
Tags can be searched for via audio and visual cues from your smart-device and hand-reader allowing you to find a “needle in a haystack.”