Times have changed for retailing and manufacturing. Consumers expect a seamless shopping experience, with the ability to interact with brands and conveniently buy products and services easily through a variety of channels. An increasingly digitised marketplace has empowered consumers to demand a personalised experience and transparency around the provenance of a product.
In other words―consumers want to buy something when they want, where they want, how they want – and experience it in a unique way. In order to service these demands, retailers must know what they have, where they have it and how to deliver it in short lead times.
This recent shift in consumer expectations is forcing the retail landscape to adapt rapidly, scrambling to make their processes leaner and more efficient, aided by technology. Tracking item locations and keeping high-demand items on hand is critical for any retailer, and is especially complex for those with a global supply chain.
Championing the way forward for supply chain accuracy is RFID technology, which gives each item a unique digital identity that can be read quickly and easily. In a traditional supply chain, boxes and bundles can be tracked, but individual items can often get lost in the process. Integrating RFID increases visibility and traceability of assets, boxes and pallets using a unique ID throughout the entire supply chain. Specific data such as manufacturing location, shipment date and loT number associated with the individual product supports simpler and more effective recall and product tracking processes, as well as contributing to reducing waste.
RFID benefits supply chain operations by including end-to-end track and trace capabilities that dramatically reduces the likelihood of human error with up to 80 per cent improvement on shipping and packing accuracy up to 99 per cent inventory visibility, and counterfeit prevention.
RFID also accelerates supply chain productivity, increasing process efficiency by up to 20%, freeing up resources with less line-of-sight tracking, reducing labour cost, and providing more accurate data synchronization, starting right at the point of manufacture. When combined with other technologies like NFC and QR, the item level digital identity can also create a unique opportunity to interact with consumers directly and share both provenance information and deliver a personalized experience.
As the leader in the development and manufacture of RFID inlays, Avery Dennison is continuing to pioneer change by being at the forefront of the IoT and intelligent labelling revolution. We are committed to helping retailers and suppliers meet and exceed growing consumer expectations by using RFID technology to deliver more efficient, more transparent and more sustainable supply chains.
Learn more about how Avery Dennison is committed to optimising the supply chain with RFID technology
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