News posted on: 2019/11/1 2:23:10 - by Anna - RFIDtagworld XMINNOV RFID Tag Manufacturer
How RFID technology can help Australian retailers increase online sales
In October 2019, the swimwear retailer BAKU in Sydney, Australia, is using mature and effective RFID technology to achieve more efficient inventory management – especially online inventory.
BAKU Swimwear is a well-known brand with 19 stores in Australia and more than 450 agents worldwide, but BAKU has flaws in inventory management.
BAKU director Dax Bykerk said: "Inventory and its management is a big problem in this industry. We need to know more clearly and accurately the stocks we have and the location of our inventory."
In order to solve the inventory management problem, BAKU introduced the RFID technology of RAMP. RAMP is an Australian company that develops and applies RFID solutions. The company provides BAKU with an inventory management system that enables complete inventory visualization from manufacturing to warehouse to retail.
Most importantly, RFID technology helped BAKU achieve their omni-channel strategy. It is expected that BAKU's online sales will double in the next 18 months.
Comprehensive inventory visibility and accurate inventory locations are key to omni-channel retail success. Real-time data ensures that all sales channels meet customer needs.
In the retail industry, if you can't see the inventory, you can't sell it.
The RAMP RFID system provides retailers with complete visibility into their valuable inventory. Ramp's director, Kevin Cohen, said: "The right product will be delivered to the right place at the right time, so omni-channel sales will become a reality."
RFID is driving revolutionary changes in inventory management in the retail supply chain. Retailers can perform a larger number of inventory counts in less time and achieve an accuracy rate of over 99%. RFID solutions can be combined with new or existing POS systems to optimize inventory and purchase replenishment to maximize sales revenue.
For retailers, RFID is an ideal choice because they all want to spend less time on inventory management and more time on sales channels.
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