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The rapid development of information communication and technology (ICT) has made possible the automatization of human-assisted tasks through a wide range of applications. Radio frequency identification (RFID) technology is probably the one advancement that stands out as it has made the dream of hassle-free shopping a reality. RFID tags communicates with an electronic reader to detect every item in the cart and ring up each one of them, almost instantly. The reader is connected to a vast network of systems that will send products’ information directly to the retailer and manufacturer. Consequently, the concerned bank gets notified about the amount billed, which is automatically debited from the user’s account without any delay.
In recent years, the Internet of Things (IoT) and sensor networks have contributed dramatically toward the development of RFID technology. From asset tracking to logistics to people monitoring for security and safety purposes, RFID helps ease any process that requires identification and verification of tagged objects to ensure that “things are where they are supposed to be.”
Even though RFID technology is versatile, it does pose a challenge. The multidisciplinary nature of this technology requires immense skills and thorough engineering expertise to operate efficiently, which many companies either lacks or cannot afford, but need in order to stay competitive.
This is where the leading provider of RAIN RFID solutions, Impinj, comes into the picture. The company’s platform can connect a number of everyday items such as medical supplies, apparel, automobile parts, drivers’ licenses, and food to applications such as patient safety, inventory management, item authentication, and asset tracking. It provides real-time information to businesses about the products that companies create, manage, transport, and sell to their customers. Also, the information gathered regarding the items’ location, unique identity, authenticity, or item intelligence is delivered by the platform wirelessly to the digital world—the company, bank, and end-user—for effective verification.
The Transformation Stage
Having access to real-time, item-level data is essential to the success of any inventory-based business. Over the years, companies have been using manual systems to track and maintain goods irrespective of the high rate of errors and labor costs.
Knowing what you have in-store, stock room, and in distribution center allows retailers to sell confidently and meet customer demands efficiently without the risk of canceling orders
Delivering Real-Time Insights with Accuracy
It is quite evident that global retailers have improved operations with RFID solutions as it has empowered them to meet the expectations of the online shopping generation. The technology provides accurate information about products in all the stores, distribution channels, and fulfillment centers. Impinj platform’s real-time visibility allows omnichannel retailers to sell inventories across all of their retail locations efficiently. It delivers pinpoint accuracy by seamlessly integrating with the physical store and reduces inventory hassles by easily connecting SAP Hybris Commerce to Item Intelligence and RAIN RFID data. The platform also monitors store inventory, improves visibility, and stock accuracy. “Knowing what you have in-store, stock room, and in distribution center allows retailers to sell confidently and meet customer demands efficiently without the risk of canceling orders,” says Chris Diorio, CEO, Vice-Chair, and Co-Founder of Impinj.
Diorio also mentions that many retailers find it challenging to maintain the correct inventory data. According to industry sources, the average inventory accuracy level is about 65 percent. This eventually leads to missed sales opportunities and dissatisfied consumers. To counter such predicaments, Impinj’s solution allows retailers to achieve optimal merchandise availability for their clients and provide in-store stock accuracy of over 98 percent. Additionally, Impinj’s and Nedap’s Always-On Inventory Intelligence solution eliminates pain points associated with incorrect shipments, administrative errors, and inaccurate ERP data. It removes the requirement for manual cycle counts that ultimately allows retailers to focus entirely on sales and service. Smart scheduling eliminates inefficiencies up to a great extent so that businesses can perform more efficiently. This simple-to-use, cloud-based software provides continuous monitoring and reconciliation of in-store inventory with 24/7 accurate, real-time inventory data reconciled with existing ERP systems.
As companies drive toward efficiency, they adopt IoT-enabled technologies to automate and streamline their supply chain and logistics operations. The low-cost, battery-free, wireless RAIN RFID solution offers elasticity for pressing logistics procedures.
"With our platform, organizations can gain accurate and real-time Item Intelligence about RAIN RFID tagged items that flow through the supply chain"
“Obtaining real-time visibility of goods manually is not an easy task as it is a slow, inefficient, and error-prone process, causing delays that ultimately increase costs. With our platform, organizations can gain accurate and real-time Item Intelligence about RAIN RFID tagged items that flow through the supply chain,” says Diorio.
Time and again, Impinj has proved its capabilities across multiple industries and gained a legion of devoted clients. Their customers needed a better way to have access to real-time solutions that transforms their inventory process completely, and Impinj did precisely that. In one instance, Undiz, a French lingerie retailer, used RAIN RFID and space-age pneumatic tubes to create an effective shopping experience for end-users. The company sells lingerie, swimwear, and sports apparel via 180 physical stores with an innovative digital shopping experience.
At the time, the retailer’s store maintained a stock of 800 items and sold up-to 200,000 items annually. In this case, customer fulfillment and inventory management were not easy. To make these functions more efficient and customer-centric, Undiz wanted to provide an effortless digital and in-store shopping experience to the millennials that matched the “cool factor” embodied in its brand. Impinj provided an innovative RAIN RFID-based retail management solution in order to break down the barriers between online shopping and physical stores.
Today, Undiz shoppers can use their smartphones to browse entire inventories and select items even before they get to the store. When a shopper visits the store, beacons automatically detects their selections from the Undiz app. “Soon after space-age capsules scan the products via pneumatic tubes from the store’s stock room to a kiosk, shoppers can easily choose their merchandise and simply pay on the spot without having to wait in line for a cashier,” asserts Diorio. This allowed Undiz to achieve around a 10 percent increase in sales at one store. By using RAIN RFID data, they were also able to understand its buyer’s behavior and also improve customer service. Additionally, Undiz was able to count all items in one store with nearly 100 percent accuracy within an hour. The company now maintains more inventory in stock rooms, which reduces footprint, lowers rent, and operational costs.
Heading Toward a Connected Relationship
In the digitized world, RAIN RFID offers multiple uses and benefits for retailers, including inventory accuracy, omnichannel fulfillment, enhanced customer experience, loss prevention, and analytics. “We believe RAIN as an integral part of the 24/7 connected consumers who shop online. Retailers are constantly thinking about ways so that they can continue to connect with customers and use RAIN to automate those interactions at any part of the world,” concludes Larry Arnstein, Vice President, Business Development, Impinj.