In the age of Amazon, retailers need all the help they can get to compete with their online-only rivals, and RFID can help you in a major way.
Admin errors, distribution, and even theft can all lead to loss of stock in the retail sector. These everyday occurrences equate to a $1.1 trillion USD worldwide.
“It is estimated that the average UK retail business will lose as much as 2% of its stock to a range of causes”.
It is not just stock loss that is the issue. There are detrimental effects to retailers when stock can’t be found because of an admin error. With omnichannel retailing, it has never been easier to purchase an item online and then collect in-store. In fact, 72% of shoppers now click and collect but are being let down by the in-store experience.
How many of us have ordered groceries online, only to be met at the door with substitutes simply because there was not enough stock in-store? This can be down to varying factors but retailers can tackle this issue with modern, accurate and real-time solutions.
With competition being so rife in retail it is important for shops to manage their stock effectively, efficiently and with minimal loss.
KFP are working with our partners Max Gear Innovations (MGI) offering a full infrastructure and RFID technology service taking away the need for manual stock taking and stock monitoring, giving them real-time data and information on merchandising, shopper behaviour, and more accurate data about the location, movement, history, and identity of store products. The software used enables you to see where your stock is whether it be in-store in the warehouse or distribution centre or in between or with a courier for home delivery.
As a retail IT-focused business, it is important for KFP to provide the best solution for your retail challenge. Managing stock, accuracy and having real-time inventory data available is one of the biggest challenges in retail today.
If you would like to know how we can support you with this solution then contact us now on either +44 (0) 1235 539101 or email firstname.lastname@example.org to learn more about how the latest portfolio of retail solutions from can help your business succeed.