The current inventory crunch has revealed the downsides of just in time (JIT) supply chains, but that doesn’t mean retailers need to “fatten up” with excess inventory that may or may not sell. The solution may be RFID technology, which can enable fast communication across the entire enterprise to create a system with more slack than JIT, but without incurring unnecessary costs from overstocking inventory.
RFID also enables in-store and last mile capabilities that can enhance omnichannel operations, empower associates and lead to better customer experiences. Some of the key applications of RFID technology include:
- Hardening the supply chain against unexpected challenges by ensuring all inventory is accounted for at distribution centers and at the store to avoid stockouts;
- Enabling delivery from anywhere, to anywhere by making the last mile process more accurate and streamlined, enabling more flexible delivery staging processes;
- Creating a more efficient and positive omnichannel experience by providing the accuracy necessary to ensure that what shoppers see on the site matches what is in the store; and
- Improving in-store operations by helping associates stock more quickly and efficiently while giving managers tools to combat shrink.
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