With the continuous and rapid growth of online shopping, the supply chain of retailers must keep up with the demand, provide unprecedented convenience, help enterprises enhance consumer loyalty, and achieve stable sales performance. If you want to remain competitive in a market full of e-commerce giants, retailers can no longer rely on traditional or outdated supply chain processes.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 began to shift their focus and equipped with a variety of high-tech to transform their supply chain.
In order to improve inventory accuracy and avoid inventory waste, many retailers are implementing intelligent inventory management through Internet of things (IOT) technology (such as RFID). Using RFID platform can improve the inventory accuracy to 95%, and through RFID tags, the out of stock situation can be reduced by 60-80%. In this way, it is not difficult to understand why more than 70% of retailers are planning or already using RFID technology.
Retailers can improve inventory visualization through RFID technology, which can better meet inventory demand and forecast inventory. Research shows that by 2021, 75% of retailers will plan to invest in predictive analysis technology. If retailers can know which goods sell well and which goods are unsalable in time, they can better manage inventory, avoid out of stock and excess inventory, so as to ensure a pleasant shopping experience for consumers.
The 2020 market insight report points 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 study published by Avery Denison shows that New Coronavirus has not slowed the pace of digitalization of supply chain data, but has accelerated the digital process. Part of the reason is the change 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 more able to cope with various uncertainties in the future.
Although it is generally 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 they were actively maximizing the potential value in their supply chain, but more than 30% said they had not yet taken full advantage of all available opportunities. There are many reasons for this, including a lack of awareness of these opportunities. 31% said lack of consciousness was an obstacle. In addition, 35% pointed out the skill gap, while the other 35% thought the investment cost was too high.
At present, the application of RFID technology in the retail supply chain is still in a relatively low stage of development. How to achieve the maximum benefit and reduce the investment cost of RFID technology in the retail supply chain has put forward a new topic for the traditional supply chain coordination.
Honglu UHF access control is installed 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 checks this information with the electronic data of the delivery notice, and the inventory system of the supply chain will be updated in time when the goods are put into the warehouse. This process does not need manual operation, which greatly reduces the labor cost.
In warehousing, RFID technology ensures that the warehouse can accurately and quickly deliver the goods to the retail store: forklift workers receive orders through instructions, read RFID tags to confirm the location, type, time, quantity and other information of the goods to be picked up, send the picked up goods to the packaging area, and then load the pallets to the designated store.
The supply chain system based on the Internet of things technology can grasp all the information about the purchase, sale and inventory of goods, from the order, delivery date, storage time, transportation, receiving, storage, sales, settlement to reorder. It can not only guarantee the accuracy of distribution and reduce the labor cost, but also automatically predict the sales volume, draw up the purchase plan and issue orders according to the historical records of the information system, Control the inventory in a reasonable range. Honglu UHF RFID reader has high accuracy, can accurately and quickly scan containers and goods, RFID tags contain a large amount of information, and has strong anti-interference, can be used repeatedly, but also has high security and confidentiality, can be reused, saving cost and more environmental protection.
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