RFID technology helps retail supply chain to achieve "revolutionary" digital transformation

　　As online shopping continues to grow rapidly, retailers’ supply chains must also keep up with demand, provide unprecedented convenience, and help companies increase consumer loyalty in order to achieve solid sales. If you want to remain competitive in a market full of e-commerce giants, retailers can no longer rely on traditional or outdated supply chain processes. Therefore, many retailers have begun to shift their focus and equip them with various high-tech to transform their supply chains.

　　In order to improve inventory accuracy and avoid inventory waste, many retailers are implementing smart inventory management through Internet of Things (IoT) technology (such as RFID). Using the RFID platform can increase the inventory accuracy to 95%, and through RFID electronic tags, the shortage of goods can be reduced by 60-80%. In this way, it is not difficult to understand why more than 70% of retailers are planning or have used RFID technology.

　　Retailers use RFID technology to improve the visibility of inventory, which can better meet inventory needs and make inventory forecasts. Research shows that by 2021, 75% of retailers will plan to invest in predictive analysis technology. If retailers can keep abreast of which products are selling well and which products are unsalable, they can better manage inventory and avoid out-of-stocks and excess inventory, thus ensuring a pleasant shopping experience for consumers.

　　The 2020 market insight report pointed out that the retail industry is undergoing a "revolutionary" digital transformation, the supply chain will become more and more transparent, and data will be shared across industries to ensure flexibility and sustainability. A new research report released by Avery Denison shows that the new coronavirus has not slowed down the digitization of supply chain data, but has accelerated the digitization process. Part of the reason is changes in consumer demand. The supply chain is expected to provide greater transparency and flexibility. Companies that have digitized the supply chain and can automatically track individual commodities in the supply chain are better able to deal with various uncertainties in the future.

　　Although it is widely believed that IOT technology will provide the necessary digital transformation in a changing economy, there are still obstacles ahead. For example, 67% of respondents said that they are actively maximizing the potential value in their supply chain, but more than 30% of respondents said that they have not yet fully utilized all available opportunities. There are many reasons for this situation, including a lack of awareness of these opportunities. 31% said that lack of awareness is a barrier. In addition, 35% of people pointed out the skills gap, and the other 35% thought that the investment cost was too high.

　　At present, in all links of the retail supply chain, the application of RFID technology is still at a relatively low stage of development. How to achieve the maximum benefit of RFID technology in the retail supply chain and reduce investment costs poses new issues for traditional supply chain coordination .

　　Install an UHF RFID channel access control system at the entrance and exit of the warehouse. When the goods pass through the warehouse door, the data on the container label can be automatically identified, collected, and uploaded to the system. The system correlates this information with the electronic data of the delivery notice. Check, the inventory system of the supply chain will also be updated in time when the goods are put into storage. This process does not require manual operation, which greatly reduces labor costs.

　　When warehousing, RFID technology ensures that the warehouse can deliver the goods to the retail store accurately and quickly: forklift workers receive orders through instructions and read RFID electronic tags to confirm the location, type, time, quantity and other information of the goods pickup , The picked goods are sent to the packaging area, and then loaded on pallets and transported to the designated store. From product ordering, delivery date, storage time, transportation, receiving, warehousing, sales, settlement to reordering, it not only guarantees the accuracy of distribution and reduces labor costs, but also automatically predicts sales volume and drafts based on the historical records of the information system Purchasing plans, placing orders, and controlling inventory levels within a reasonable range.

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