The progress in implementing new technology of Radio Frequency Identification Devices (RFID) especially in apparel industry is being studied by various sources.
The benefits of RFID technology is immense. It can calculate total cost of merchandise in the cart automatically reducing operating costs, speedup checkout process, reduce errors at cash register, reduces theft and increases customer satisfaction.
RFID helps retailers with better visibility into store operations, receive backroom stock information, stock-outs and whereabouts of inventory in the store.
RFID detectors help retailers to verify inventories multiple times daily, with in minutes requiring no human intervention once they are set up the first time.
RFID tags provide extra security for goods, lower costs of moving goods, ensure right merchandise gets shipped to the right store at the correct time, reduces labour force, helps in asset tracking, reduces inventory and track and trace facility.
Smart shelves with liquid crystal displays (LCDs) ensure pricing speed and accuracy, cutting re-pricing time considerably. It provides retailers with enormous competitive and labour savings advantages.
RFID cannot be considered as an ordinary tracking and tracing device only, but as a solution for demand and supply-chain process improvement technique.
Technology firms and consumer product companies have come up with a complex numbering system to identify RFID-tagged items in stores, which help in innovation of EPC (electronic product code) and GTIN (global trade item number).
RFID technology can check into private domain of consumers, hence technology groups and retailers should look to shield consumer privacy.
Besides cost-benefits analysis in case of RFID technology, it predicts business trends that is difficult to address from the present day available technology.
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