Business value for Retail &
- 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
8.5 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.
Stock Movement & Loss
– Alerts for stock movement when items are removed, for extra security, or where items leave a retail store without having been paid for
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