RFIDs can be a valuable tool for ensuring inventory accuracy and enabling store-level fulfillment, according to several recent reports. Macy’s first began RFID implementation in 2008 and saw immediate improvements.
RFIDs can be a valuable tool for ensuring inventory accuracy and enabling store-level fulfillment, according to several recent reports from IHL Group, Kurt Salmon and Tyco Retail Solutions in partnership with the Platt Retail Institute.
Based on research from an IHL Group study, out-of-stocks and overstocks account for an estimated $1.1 trillion problem in the retail industry. Because of this, retailers are cautious in leveraging all item quantities for online sales and store fulfillment options. The resulting risk to the consumer is too high, and the average loss of sales due to inventory inaccuracy is 8.7%.
Source: Macy’s leverages RFIDs to prevent inventory distortion | FierceRetail