Business value for the ‘Off-Trade’
- Maintain service levels but with reduced inventory levels
- Increase on-shelf availability and reduce stock outs
- Increase backroom to front-of-store inventory accuracy and replenishment
- Reduce time and labour costs with automated inventory
- Reduce shrinkage
4 billion+ RFID tags used per year globally for item level identification by retailers for clothing & apparel on a business case of 5% increase in retail sales AND reducing inventory by 10%
BUT not – until CapTag was developed – on any product where liquid is involved.
The unique functionality of CapTag® family of RFID labels enables real-time instant inventory visibility which is needed to satisfy consumer demand and automate replenishment for consistency in stores and across digital platforms.
The use of item-level RFID raises inventory accuracy.
In May 2016, Kurt Salmon surveyed 60 soft lines retailers and wholesalers with revenues of at least $500 million, following a survey of a similar group of retailers in 2014.
One standout among ROI measures: inventory accuracy. Inventory accuracy is the most widely used metric—93% of retailers surveyed measure it related to RFID—with the largest improvements due to RFID—an average of 25.4%. Even more interesting: Retailers reported that lack of inventory accuracy accounts for a loss of 8.7% of total sales, on average.
RFID continues to be a critical tool for both omnichannel and customer engagement initiatives that are central to a retailer’s future success.
The CapTag® label family delivers benefits in:
Despatch & Receipt
–An instant inspection tool within the supply chain to automate the process of checking the number, & identity, authenticity of items being dispatched & received without the need to handle any individual item.
–Accurate stock counting when items are inside cases, on conveyors or shelves, or back of store, with alerts for stock movement when items are removed for extra security
Hunt & Find
–The ability to hunt & find individual items accurately and quickly
-with smart-CapTag providing both item level inventory control for efficient omnichannel delivery and consumer engagement through their smartphone