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Best Practices in Retail: RFID - A Key Driver of Innovation

Best Practices in Retail: RFID - A Key Driver of Innovation

  • January 2017
  • 11 pages
  • ID: 5013084
  • Format: PDF
  • By GlobalData

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Best Practices in Retail: RFID - A Key Driver of Innovation

Summary
"Best Practices in Retail: RFID", report discusses how different retailers can benefit from applying RFID technology, with advice provided for IT vendors. RFID is an automated identification technology that uses radio waves to identify tagged objects. It enables large amounts of information to be stored on chips that can be read at a distance without requiring line-of-sight scanning or direct contact. Helping retailers and IT vendors to determine the optimal use of RFID technology, this report analyzes several best practice approaches from different retailers.

RFID does not only help retailers to achieve better inventory management and prevent theft, but also forms a key component of their omnichannel strategies. The adoption of RFID technology has increased significantly in retail, and retailers from various backgrounds have deployed RFID based solutions or plan to do so, either by relying solely on RFID or by combining it with other technologies.

Scope
- Retailers use RFID tags that can be integrated into pallets, cases, cartons and larger products for managing warehouse operations, logistics and asset tracking
- Some forward-thinking retailers, packaging firms and branded product suppliers utilize RFID technology to help them bring the digital experience to physical stores as part of their omnichannel initiatives
- RFID enables retailers to gain better insight about customers’ buying behavior and can identify items that have been picked up from shelves but have not been purchased at the point-of-sale.

Reasons to buy
- Get a detailed understanding of the usage and importance of RFID in retail. This report can help you pitch solutions to retailers that include RFID technology and to gain insight into retailers’ priorities and challenges.

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