A recent report, entitled “RFID Nears a Tipping Point”, is raising expectations that this year could very well be the watershed year for RFID in retail. The report, which says it is based on surveys of 58 suppliers and 56 retailers in North Ameri
ca, asserts that RFID technology will be widely adapted by the industry very soon.
While we do not know the details of the surveys, the report is very good news for the industry, and it confirms what we are seeing in the marketplace regarding RFID.
Looking at our own business and the number of implementations scheduled this year, it is evident that RFID is gaining traction fast. We are moving in the direction of wide-spread implementation throughout the retail industry supply chain—-and we are moving rapidly.
We have no doubts that RFID will continue to evolve at a steady and accelerated pace, becoming the gold standard for retailers and the supply chain.
The logic is simple. RFID brings unprecedented accuracy and efficiencies to the counting and tracking of inventory; benefits that create a competitive advantage for early adaptors. Gaining inventory accuracy as high as 99+%, providing the visibility to know where merchandise is at any point within the retail store
or the supply chain thus, reducing shrink and increasing sales. The benefits of RFID create a compelling business case that no retailer can ignore.
RFID works. The results have been proven repeatedly in research tests, pilots and implementations around the world and throughout the supply chain. The technology has matured and the inherent side benefits, including loss intelligence for controlling theft, are being recognized and leveraged. As we enter 2012, the RFID industry has reached an excellent growth point. As evidenced by retailers like Wal-Mart, Macy’s, J.C. Penny’s and others, RFID is an important game-changer.
During the 2012 NRF Big Show in New York that ended on January 18, there was a strong presence of RFID technology and its applications for retail. The overall feeling was that RFID is being seen with increased confidence and driving more inquiries from retailers around the world. We can personally attest to that, based on the heightened interest in Truecount.
Macy’s and Bloomingdale’s have already stated they are fully committed to RFID and that their suppliers should begin preparations. Things are looking great for RFID in retail. The next steps are increased retail pilot programs, supplier adaption and increased source tagging. Stay tuned.