The shop floor is where sales can be won or lost, therefore reliable control and planning of stock to be made available for customers to buy is vital. Retail is a dynamic environment requiring constant observation; therefore accurate, near real-time stock visibility within the supply chain and within the store is an essential factor in an efficient retail operation. Faster product data availability and transaction processing will greatly improves profitability through better productivity, freeing up time for better customer service.
Out-of-stock situations mean lost sales opportunities. Stock management can be improved with better inventory management systems facilitated by item level tagging using RFID devices and readers enabling detailed product visibility from warehouse to checkout.
By incorporating such systems, market and buyer behavior fluctuations in stock can be spotted quickly and acted upon appropriately and efficiently from the top end of the supply chain.
The typical applications where TSL products can be used are:
• Store inventory
• Stock checking
• To eliminate out of stock situations
• Looking up the inventory of stock held at stores and distribution centres in the area
• Merchandise planning
• Price and promotion management
• Price look up
• Accuracy of pricing
• Supply chain
• Asset tracking and inspection
• Shop floor visibility
• Real time demand visibility
• Computer assisted ordering
• Queue busting