Inventory inaccuracies can present an immense challenge to retailers. Truecount is combatting those challenges with a new In-Line Tagging RFID solution. Built to provide insight into inventory movement and processes, the Truecount solution leverages integrated radio frequency identification (RFID) tags that can be fixed at a specific location or on a mobile handheld. Once the tag is in place, the retailer can begin tracking and tracing the item as it moves from point to point, capturing data on any item that is missing, lost, stolen or mis-shipped.
The solution is designed to help retailers streamline business processes and ensure inventory accuracy of up to 99+%, by dropping out-of-stock rates. Using the solution, American Apparel has reported sales lifts from 7% to 14% in many RFID-enabled stores.
Founded in June 2010, Truecount released its first beta product in December 2010 and officially launched its RFID solution in January 2011. Truecount is headquartered in Dover, NH and maintains satellite offices in Dorset, VT and Toronto, Ontario.
Truecount CEO Zander Livingston has worked as an R&D Strategist and Project Manager within the retail industry since 2005. Most recently, he served as the Director of RFID at American Apparel. Truecount COO Jordan Lampert has more than 10 years of experience in operations, development and strategy encompassing automotive retail. In 1999, he co-founded a SaaS company, providing CRM and interactive marketing solutions to auto dealerships across North America.
Today’s shoppers are advancing ahead of retailers in the use of data and devices that facilitate mobile shopping. A March 2011 Oracle survey indicated that 48% of shoppers utilize mobile devices to research and browse retail inventory, a 37% increase since January 2011. According to Truecount, retailers will continue to increase their use of RFID tags in order to streamline returns, dynamic pricing, personalization and self-checkout.
An RFID tag is applied to each item in a retail store, or to a specific product of interest, such as the retailer’s most valuable inventory or highest-priced items, at any of the key points in the supply chain, including the manufacturing source.
The Truecount platform uses Microsoft .NET. Minimal hardware is required (i.e. a server, thin-client workstations, RFID tags, RFID readers and antennas) for traditional deployments; and through the use of web-based technology, servers can be hosted locally (on-premise or in a data center) or in the cloud.
Truecount is working with a variety of Tier 1, Tier 2 and Tier 3 retailers with launches planned for Q3 and Q4 2011, and into 2012. By recent estimates, distortion costs retailers worldwide almost $800 billion each year. Truecount item-level RFID is aimed at helping eliminate inventory distortion for retailers by providing inventory accurate tracking counting.