Presently, most retailers take a complete inventory count of everything within their store once or twice annually, and also perform periodic cycle counts. Inventory accuracy is typically around 65 percent, which means there are items on the floor that a retailer does not know are there, and items missing that the store thinks are there. This leads to out-of-stocks and lost sales. Moreover, replenishment is often carried out in a haphazard way. Items are sold and a replenishment list is generated, but when staff members are helping customers, they don't have time to replenish. So when the store is at its busiest and potential sales are highest, goods are often not being replenished, with no way to confirm that they have been. If workers indicate on their handheld terminals that they have picked items and brought them to the floor, the system will assume those goods are available to customers, even when they are not.
Should I Employ RFID to Manage Inventory at My Retail Shops?f
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