Radio Frequency Identification 4 Retailers 2004
Venue: Marriott Hotel
|Event Date/Time: Oct 05, 2004||End Date/Time: Oct 05, 2004|
|Registration Date: Oct 04, 2004|
With pilots beginning to prove that RFID can dramatically improve supply chain efficiencies, reduce out-of-stocks and thwart shoplifters; this technology will change stores forever.
RFID, its application, standardisation, and innovation are constantly changing. Its adoption is still relatively new and hence there are many features of the technology that are not well understood by the general retail populace; But with standards commonality nearing achievement, whereby RFID equipment from different manufacturers can be used interchangeably, the market is now ready to grow exponentially.
Retailers should not wait to implement RFID; conversely it should not consider it as simply a bar code replacement. Retailers that do that are arguably missing the point and will subsequently miss the revolution. RFID is so much more than simple barcodes; organisations need to consider restructuring the way they work to take advantage of the value that this new technology enables.
Retailers spend a lot of time trying to gather data:
What is the inventory level?
What is our backlog?
Where is the shipment?
When they finally get this information it’s from the past. RFID will provide this at any given moment, telling retailers exactly what their inventory levels are and where the shipment is.
Combining RFID tags and other sensing devices with web services and wireless communications will deliver a spectacular array of information that can be sliced any way a company needs it. Objects will be able to provide information about themselves. Shelves will be able to send wireless instant messages to store clerks when they need to be replenished.
Hardware in the supply chain and logistics field will alert maintenance that they will soon need to be replaced. Sensors in food packaging will warn retailers that meat has been contaminated. These scenarios may sound futuristic, but with the reality of RFID all of this is possible.