Inventory Management Software with Real-Time Visibility
In the era of omnichannel fulfilment, it has never been more important to have an accurate and up-to-date inventory management software system. Without an up-to-date inventory management system, warehouses will end up with duplicate items and limited space. Small errors can escalate into bigger problems. Picking errors result in sending the wrong products and potentially costly chargeback penalties. Stocktaking with paper or barcoding is also a time-consuming task that often leads to inaccurate results.
Using an RFID inventory management solution to manage inventory provides faster and more accurate results of stocktaking. You can use this information to reduce ‘out of stocks’ items, meaning more sales down the supply chain and reduced costs from carrying too much inventory.
According to an Auburn University study, 69% of orders contain an error from somewhere in the supply chain and, they found that checking the orders with an RFID inventory management software increased accuracy by up to 99%. Not only is RFID inventory management stocktaking extremely accurate, but it also takes a fraction of the time.
RFID inventory management is a worthwhile investment for brands to get up-to-date knowledge of their inventory and fulfil orders accurately, which will lead to more sales and profit.
Benefits of RFID in Inventory Management
Reduce warehouse labour costs
Reduce cycle count time
Increase inventory accuracy to 95% or more
Reduce picking errors and chargeback costs
Reduce inventory carrying costs
Reduce out of stocks
Case Studies
Major retailers have found big benefits from implementing RFID inventory management systems throughout their supply chain and utilising an efficient way to track assets with an inventory management software. Learn more about the benefits of RFID systems in inventory management and how they can also improve your business.
Walmart
Macy's
Increased Inventory Accuracy
95-97%
What's next?
Now that you have seen the benefits of RFID systems in inventory management, what it can do for your business and its practical applications, click to learn more about the hardware available, starting with handheld readers.
STOCKTAKING MADE SIMPLER WITH THE TEC-RFID ASSET MANAGEMENT APP
Stocktaking is made simple with the TEC-RFID Asset Management app, increasing not only the speed of your stocktake, but the accuracy too.
