Retailers, including Bloomingdale’s, Macy’s, Lord and Taylor as well as Elie Tahari are starting to utilize RFID technology for immediate access to inventory, especially in-stock product availability as well as speeding up annual product checks.
This provides a value-add, by working with the faster and more innovative technology; the RFID codes that communicate to a networked system to keep track of items and are therefore able to provide improved accuracy.
As the inventory levels should be more accurate, this allows an opportunity for these stores to appropriately stock the higher demand items in a shorter time-period, which should essentially provide increased sales by making the inventory readily available for sale.
Item accuracy and inventory management is essential to make sure that customers will continue frequenting the establishment. The worst thing that you could do is disappoint the customer by not stocking the item that they are interested in and forcing them to find other outlets to fulfill their order.
Dalia Strum teaches SXF 120: Blogging Smarts for Business.