· SOLUTIONS ·
It helps retailers to increase sales, reduce costs and optimize their supply chain, warehouse and store management processes.
Increase sales between 2% and 10%.
Increased online sales for stock reliability.
Increase in inventory accuracy to figures to 100%.
Increase the efficiency of the entire supply chain.
Reduction of 40% in the times of merchandise reception in the DC and in store.
Reduce shrink and losses in store and warehouse.
How does Bionix work?
In the supplier
In the shop
In the shop online
According to measuring the impact of RFID in retailing made by University of Leicester there are many benefits there are many benefits thanks the use of RFID technology in different retail sectors. We decide to show you the ones most important.
- Driving Sales: The primary goal of investing in RFID was to deliver improvements in inventory visibility and accuracy, which in turn would grow sales.
- Recognising the Omni Channel Imperative: This technology was viewed as a key driver in developing the capacity to deliver a profitable omni-channel consumer experience – in effect the organisational ‘glue’ that will hold together much of the architecture of 21st Century retailing.
Improved Inventory Accuracy: Companies typically had an improvement from 65%-75% to 93%-99%.
- Measuring Impact: Ultimately, RFID is an intervention used to enable the business to be more successful in meeting its core objectives of being a sustainably profitable retailer. In and of itself an RFID system is little more than a combination of technologies that provide the user with actionable data. Most case study companies had relatively few KPIs they wished to achieve, with an improvement in sales being the most prominent. But it is important to understand how any chosen KPI will be delivered, including identifying the organisational drivers/mechanisms that will enable them to be achieved and how they will be measured.
- Loss Prevention and RFID: Few of the companies regarded their RFID system as an effective tool to actively reduce stock loss, particularly malicious forms of loss such as shoplifting. Primarily this was because the tags being used (swing tags and stickers) were very easy to remove and current exit readers were viewed as being relatively unreliable. However, some were using RFID data to better understand which products would benefit from additional security as well as helping in the evaluation of store trials of stock loss interventions. For one retailer, an indirect benefit of store staff now having more time to be on the shop floor (because RFID had reduced the time other tasks had taken) was that they could increasingly act as a visible deterrent to prospective shop thieves.