Power to enhance your supply chain management by RFID

Power to enhance your supply chain management by RFID

RFID revolution is underway, it is occurring somewhat out of public sight in warehouses, distribution centers, and other stages of the supply chain. RFID's impact on the flow of goods through distribution channels has implications not just for manufacturers, suppliers, and retailers, but also for consumers.Many reported that as a result of more efficient distribution practices generated by RFID use, consumers may find what they want on the store shelves, when they want it, and perhaps at lower prices. Retail industry suffers losses between $180 and $300 billion annually because of poor supply chain visibility the inability to track the location of products as they make their way from manufacturer to retailer. As a result, retailers are not always able to keep high-demand goods in stock, or they may have inventory that they can't move.

RFID may help prevent these lapses by improving visibility at multiple stages of the supply chain. RFID readers can gather information about the location of tagged goods as they make their way from the manufacturer, to a warehouse or series of distribution centers, and to the final destination, their store.Also, as one workshop participant explained, RFID enhances the accuracy of information currently obtained through bar code scanning, which is more vulnerable to human error.Access to more and more accurate information about where products are in the distribution chain enables retailers to keep what they need in stock and what they do not need off the shelf. RFID imposes on the supply chain by, for example, reducing "shrinkage," or theft.

RFID may lower costs by keeping shipping volumes leaner and more accurate.Other RFID tags can be read much faster than bar codes, citing tests indicating that RFID's scanning capability can result in goods moving through the supply chain ten times faster than they do when bar codes are used. RFID will facilitate quicker, more accurate recalls by enabling the tracking of a product's origin and its location in the distribution chain. Further, RFID will enhance product freshness by monitoring expiration dates of consumer goods, so retailers know when not to offer items for sale.

By

Sachin Singh

sachin.singh@agnicient.com

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