Imagine having a large retail store in Norway and facing challenges with inventory inaccuracies during the goods receipt process. Efficiency and accuracy in goods handling are very important in this fast-paced retail world. Every step in the process must be meticulously managed, from when a product arrives at the store to its eventual sale or return.
Traditional methods that are reliant on manual scanning and data entry often fall short of meeting the demands of modern store operations.
How can we optimize this?
An innovative technology that promises to transform the way products are handled in retail settings. Let us explore how TRAZE’s RFID system optimizes goods handling processes, from receipt and transfer to returns, providing retailers with a customer-centric, efficient, and reliable solution.
What is goods handling in retail?
Goods handling in retail contains all the processes involved in the movement, management, and storage of all of the products within the supply chain. This includes goods receipts, store-to-store transfers, and returns to suppliers. Efficient goods handling is required to maintain accuracy in inventory, reduce costs, and enhance the overall customer experience.
In traditional retail settings, goods handling often relies on manual methods such as scanning barcodes and entering data by hand.
Challenges?
- Labor-intensive: Requiring significant human resources to scan each item individually can be slow and inefficient.
- Error-prone: Human error in manual data entry and barcode scanning can lead to inaccuracies in inventory records, resulting in incorrect stock levels.
- Time-consuming: Traditional methods make the process time-consuming, particularly during peak periods or when handling large deliveries.
These processes can lead to issues such as misplaced goods, inaccurate inventory counts, and inefficiencies throughout the supply chain.
As a result?
Retailers are turning to more advanced technologies to improve their goods handling processes.
Traze's Radio Frequency Identification (RFID) solution
One such technology is RFID. RFID in retail involves the use of RFID tags and readers to automate and optimize the tracking and management of inventory.
The RFID reader and RFID tag can communicate simultaneously and then store detailed information about individual products that are reliable for the product's location and movement.
With such advanced technology, Traze has developed an easy-to-use interface that utilizes the effectiveness and efficiency of RFID in retail goods management.
Imagine running an in-demand retail store in the near future where advanced RFID technology is seamlessly integrated into every aspect of your retail operations. As soon as new inventory arrives, products are instantly scanned and logged into the store’s centralized system, updating stock levels in real-time for better inventory control.
This immediate visibility ensures that every item is accounted for, reducing the chances of discrepancies and out-of-stock situations.
Goods receipt process
The goods receipt process is the initial step, where merchandise is received from suppliers. Traditional methods of receipt of goods usually rely on manual scanning and data entry.
With TRAZE’s own goods receipt module, RFID tags are attached to products, and the RFID reader captures the information stored on these print tags simultaneously as products enter the store. This system allows for quick and accurate inventory tracking, ensuring that raw materials and finished goods are correctly recorded without needing to handle each product individually.
Gains?
- Time reduction: The time required to process incoming shipments will be reduced, enabling faster turnover and improved workflow.
- Increased accuracy: Inventory accuracy will improve, reducing discrepancies and ensuring that stock levels are always up-to-date.
- Labor cost savings: Retailers were able to reallocate staff from manual scanning tasks to more value-added activities, resulting in significant labor cost savings
Store-to-Store Goods Transfer
Transferring goods between stores is another essential aspect of inventory management. Traditional transfer processes can be bulky, inaccurate, and inefficient.
Does it ensure optimal stock levels across all store locations?
TRAZE's integration with the RFID technology simplifies store-to-store goods transfers by providing real-time tracking of each item's location. RFID readers installed at strategic points within the stores capture RFID data, ensuring each store gets an overview of the correct number received and the number written.
This improved transfer process allows faster replenishment of products across all stores, enhancing overall supply chain management.
Return to the Supplier Process
Handling returns to suppliers is often a difficult and time-consuming task for many retailers.
TRAZE’s RFID approach optimizes this process by providing accurate tracking of returned items. RFID tags attached to merchandise store detailed information, including the item's serial number and reason for return.
RFID readers capture and synchronize this data across touchpoints via the TRAZE app, allowing for efficient processing and transport back to the supplier.
The solution enhances communication and coordination with suppliers because it provides accurate inventory control and up-to-date information about returned goods. Suppliers can access detailed data about each return, facilitating better planning and processing on their end.
This improved coordination helps ensure that returns are processed seamlessly and that any issues are promptly addressed.
Mediaset is set to transform the future...
The adoption of new advanced technology like RFID in retail is becoming increasingly important. The future of goods handling in retail lies in the continued integration of RFID systems to optimize every aspect of the supply chain.
In partnership with TRAZE, Mediaset is committed to helping retailers and businesses maximize RFID technology to its highest potential to streamline retail operations. The security feature is significantly enhanced as well. High-value items are equipped with tags that trigger alarms if they are moved in unauthorized ways, effectively reducing theft and loss.
The potential for TRAZE's RFID system to transform retail operations is massive. Future applications may include smart shelves that automatically track and reorder inventory, advanced data analytics that provide deeper insights into consumer behavior, and even more personalized shopping experiences powered by Artificial Intelligence and RFID integration.
We enable retailers to navigate the challenges of a dynamic market and deliver exceptional value to their customers. As the retail industry continues to evolve, those who leverage the power of RFID technology will be well-positioned for success.
