Counting Merchandise More Often Improves Inventory Record Accuracy
Discover the critical importance of inventory record accuracy in the retail world and how RFID revolutionizes the way retailers manage stock. Join us as we explore the challenges retailers face maintaining accurate inventory records and the detrimental impact it has on sales and customer satisfaction.
In brick and mortar stores, you see and touch the product, ensuring quality. However, in the online and omnichannel environment, shopping is based on what the retailer believes they have in stock (based on inventory records). Shockingly, in the barcode world, research has revealed that merely 35% of traditional inventory records are accurate.
This discrepancy creates issues for retailers. They may unknowingly be out of stock, which means missed sales opportunities. Or, they may be overstocked, which ties up valuable resources. These inaccuracies impact digital sales–retailers advertise and sell items they don’t actually have or fail to promote items due to faulty stock information.
Join us as we delve into the solutions RFID technology addresses for inventory record accuracy challenges. Learn how RFID enables real-time tracking and monitoring of inventory, allows retailers to make informed decisions, streamline operations, and ensure accurate stock levels. Don’t miss the profound impact of accurate inventory records in retail.