While RFID’s benefits to inventory management are well known, it is easy to overlook the bigger role RFID will play as a lynchpin for the hyper-connected world of the Internet of Things and the data it generates. In 2014, estimates for connected devices ranged as high as 16 billion. But in the realm of passive RFID, the number of ‘dumb’ objects (i.e., those where it is unnecessary, uneconomical or impractical to have an active transmitter) is likely an order of magnitude (or two) higher, making the need for the proliferation of passive RFID standards glaringly apparent. A world where 99% of everything is invisible to the web by virtue of not having an active transmitter is as incomplete and disconnected as a pre-Columbus world map.
SML RFID made a big splash at RFID Journal LIVE! 2015 in San Diego, as we shared our complete retail RFID solutions enabled by SML RFID tags, Clarity™ software and full retail service integration. We want to thank the large number of retailers and brand owners that visited our booth and shared how RFID is a real value creation tool for them, as well as those who attended the expert view presentation “How RFID Solutions Drive New Business Benefits” by Dean Frew, president of SML RFID. (more…)
As we get ready for RFID Journal LIVE! 2015 in San Diego, we at SML are exuberant about the state of the market and the value that customers are realizing by using our RFID technology to create solid business cases throughout their enterprise. As we look forward into the next few years, there are several tenets that are givens: 1) solutions will need to be enterprise class, 2) only simplified solutions will be adopted and implemented effectively, and 3) the return on investment (ROI) will have to be solid.
The days are gone of “playing around” with RFID – it is no longer an experimental technology. RFID is a serious business tool for retailers and brand owners to create shareholder value. And RFID Journal LIVE! is the premier show for getting to meet with the key companies behind that value creation. (more…)
Retail shrink, including shoplifting, employee fraud and administrative errors, cost the global industry more than $128 billion last year, according to the latest Global Retail Theft Barometer. That is a staggering figure!
How much did shrink cost your business?
One way to help manage shrink and protect your business is to get a better handle on inventory. Here are some of our favorite tools for maintaining continuous visibility and greater accuracy in retail inventory management. (more…)
As more industries have adopted RFID, businesses of all kinds have discovered new ways to make the best use of this valuable technology. Here are some of the primary reasons why we here at SML RFID, along with retailers worldwide, love RFID technology. And if you want to be successful in business, you should embrace this technology as soon as possible as well. (more…)
“It ain’t what they call you, it’s what you answer to.” –W.C. Fields
When Dean Frew started his company in 2002, he knew he was onto something big. The ability of RFID to count vast amounts of product rapidly and with unprecedented accuracy had the potential to revolutionize the way hospitals operated, heavy vehicles and machinery were manufactured, valuable items were accounted for, and businesses were run. He had the product, the vision, and the know-how to make it happen. He just needed a name.
Dean pored through name after name, only to find that they were taken (this was the beginning of the era of domain name squatting, after all). He knew he needed something that evoked sleek technology suitable for the large enterprise, and due to a combination of the name and domain actually being available and its spelling and pronunciation evoking enterprise aspirations, Xterprise was born – the ‘X’ representing the unknown-at-the-time, seemingly limitless transformation RFID would bring to industry. (more…)
At the National Retail Federation (NRF) Big Show this year, it was apparent that the entire industry is serious about omnichannel retailing and the opportunities that it offers. Exhibitors were tailoring much of their marketing and messaging toward omnichannel applications, such as online orders delivered to the store, and smart dressing rooms or video product displays enabled by RFID technology.
The customer experience is a big reason why omnichannel retail is so popular. As noted in a recent Apparel Magazine, Cross-Channel Report, the expectations of today’s connected consumer are driving the need for an omnichannel, customer-centric business model. Many consumers take advantage of online coupons, leverage their own shopping data to get better deals and practice showrooming, or look at merchandise in-store and then buy it online. (more…)
Let’s face it – there are many challenges in the retail industry. But of all the difficulties that those in the industry have to deal with, the biggest retail problem is visibility and accuracy.
Think about it: if you don’t know exactly what inventory you have on hand and where it is located, then problems of shortages, surplus, shrink, customer service and missed sales all can occur. In fact, a typical retailer’s inventory is at best just 65-70 percent accurate at the SKU level. Every day, consumers walk out of stores empty-handed because they can’t find the item they want. (more…)
Of all the industries using Radio Frequency Identification (RFID) technology, apparel retail has the most to gain. This is because the benefits of RFID lend themselves so well to both the business practices and high SKU complexity of the typical apparel retailer. Here are 10 quick tips about RFID stock management in apparel that drive greater cost savings and efficiency. (more…)