According to data from the National Bureau of Statistics of China, the total retail sales of consumer goods in China in 2021 will reach 44,082.3 billion yuan, an increase of 12.5% over the previous year; supermarkets, convenience stores, department stores and other retail formats have achieved recovery growth. In addition, the online retail sales of domestic physical goods increased by 12.0% year-on-year last year, accounting for 24.5% of the total retail sales of social consumer goods. That may be good news for economists, but many retailers have been ill-prepared for a surge in demand amid the pandemic, making it harder to cope with the growing popularity of online shopping and mobile spending.
According to Zebra's 2021 Consumer Research Report - Volume II, nearly three-quarters of retail executives are under pressure to reduce spending on online orders, while many are trying to prevent stock-outs. They know that in order to maintain their brand reputation, maintain their customer base and maintain profit margins in times of rapid growth, they must do more to regain control of inventory management. If retailers are unable to provide consumers with the desired products when they need them, in the way they expect, consumers can turn around and leave the store or close the online ordering page.
The recent boom in expanding the scale of RFID
A variety of different technologies, such as barcodes, radio frequency identification (RFID), intelligent automation, and prescriptive analytics, can be used to improve visibility into inventory location and performance. Among them, the widely used barcode is a common solution. The barcode can be scanned at every touch point of the retail order fulfillment link such as factories, warehouses, distribution centers, stores, consumer doorsteps, and pick-up containers, so as to report or verify item status. In addition, barcodes can be used to support a variety of business functions such as picking, packing, shipping, receiving, price checking, replenishment, cycle counting, and point-of-sale (POS).
Retailers do not need to make significant technology investments to utilize barcodes as a tracking and tracing mechanism. Built-in scanners are now a common feature of enterprise-class mobile computers and are commonly used in retail and warehouse operations. This feature enables store associates to easily scan barcodes to check prices, confirm that the correct item has been picked up for consumers or to report current shelf inventory. However, barcode scanning is no longer a relatively efficient way to manage inventory, especially when stores and warehouses are understaffed or sell faster than replenishment, which is now an almost daily occurrence.
If the barcode is on the bottom or back of the package, the clerk will need to pick up the item and scan it. With multiple rows of items stacked on shelves, clerks would need to move each item around for accurate counts, and items in the back might be missed. Bar codes alone are too laborious to track inventory on shelves and in warehouses, given that most retailers have hundreds of thousands of items in stock. Today, RFID tags are as common as barcodes, as many manufacturers tag items at the source. That's why retailers of all sizes are showing renewed interest in RFID technology.
Retailers can configure RFID systems in a number of ways to automatically read thousands of tagged items as items move from one link in the supply chain to the next, or as store associates move from one item area to the next in the store. thing. Unlike barcode scanners, both stationary and handheld RFID readers do not need to face the label on the package, but only need to be close to the labeled item to collect real-time data and share it with interested parties.
While RFID may have historically been complex and costly for most retailers, the combination of new cloud-based software and RFID handles has made this advanced tracking technology available to retailers. Even small retailers who are still using pen and paper to record inventory movements can read the data when they digitize their processes, equip their employees with the right mobile computers, and create a simple application that sends RFID data to the cloud. Take and make the most of RFID tags now.
How RFID Handles Help Retailers Avoid Inventory Slips
It is not always reasonable to install stationary RFID readers in retail stores to monitor shelf inventory. In many cases, hand-held RFID readers are often sufficient, as store associates can quickly look around the store for tag data. Most store associates are more averse to carrying two devices with them all day, and the IT team is not happy to add more devices to the management list. The RFID handle is an excellent and simple solution that automatically reads thousands of RFID tags with just a pull of the trigger, in addition to acting as a barcode scanner.
Technically, they're ready-to-connect accessories that instantly convert an employee's mobile device into an RFID reader without the need for cables or specialized training on its use. With the RFID handle attached to the mobile computer, the employee simply points the device in the general direction of the inventory to be counted and pulls the "scan" trigger. Taking Zebra's RFID products as an example, the data of more than 1,300 tags per second will be immediately transmitted to the device and the inventory management system synchronized with it. If calculated at this speed, within 15 minutes, the store, Over one million different items in warehouses and warehouses can be accurately counted. Without RFID, counting or locating so much inventory could take hours or days, and the results would be less reliable. Inventory of items is always changing dynamically.
Equipping employees with RFID handles for more frequent inventory counts can also help retailers and supply chains grow in the long run. Purchasing teams are alerted when stocks are running low, allowing them to place additional orders before inventory is completely depleted. Sales executives can see when inventory is selling faster than expected and when it is becoming stagnant to adjust shelf placement, price promotions, and replenishment rates. Instead of minutes or hours, store associates can confirm the number of shelves and locate back inventory in seconds. At the same time, the inventory system will be instant and accurate, so consumers can log into a computer or mobile device to see if their favorite item is still in stock before heading to the store. If a product is out of stock at a store a consumer frequents, but is available at another store just a few kilometers away, they know which store to go to.
Connect the dots via the cloud
Like other hardware-dependent solutions, RFID readers only play a part in improving operations. Retailers also need to ensure that tag data can be delivered to the right people and systems and analyzed in the specific context of each application. In the past, this required expensive on-premises infrastructure, making RFID out of reach for low-budget retailers. Today, retailers can take advantage of RFID technology with just two low-cost components, a reader (or handle) and the cloud. A new application programming interface (API) enables RFID readers with native cloud access to aggregate and analyze tag read events in a centralized manner. Historical event data can be retrieved and analyzed on demand to monitor key performance indicators (KPIs). This cloud-based mobile RFID solution can also be set up to alert employees when a SKU is in the wrong location or out of stock, so they can take immediate action.
Incremental, small changes can make a big difference
As e-commerce orders grow and consumers return to shopping in brick-and-mortar stores, retailers need to manage more inventory across multiple channels. This seems to feel like a big shift is needed to keep pace. However, simple solutions such as RFID handles are just proof that retailers can improve inventory visibility, employee productivity, and customer satisfaction without making a major investment, simply by adding the right components to employees' mobile computers. achievable.
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