Warehouse Management Challenges
Warehouse management brings unique challenges. Stocktaking is an unreliable process that involves countless hours of manually scanning barcodes. In a warehouse with millions of items, locating a specific product can be a logistical nightmare. The sheer quantity of items that go through a warehouse daily make it easy for goods to be lost, which cuts into profits.
What if there was a way to solve all these problems? What if you could cut your stocktaking time from days to minutes while improving accuracy? What if you could easily locate any item in your warehouse, even among millions? What if you could almost eliminate lost items? How much would the time and money savings be worth to you?
The Solution: RFID
The solution to these problems is Radio Frequency Identification (RFID). RFID uses radio waves to identify hundreds of objects in seconds without needing line of sight. These tags are also durable, can be rewritten and hold much more data than barcodes.
The benefits of implementing RFID in a warehouse environment are clear to see. Firstly, RFID saves time and labour. With labour costs being 65% of most warehouses’ operating budgets, this is a crucial driver of ROI. US retailer Walmart found their 10,000 item inventory, which used to take 53 hours, now takes only 2 hours, a 96% reduction in stock counting time.
Secondly, RFID improves accuracy. Average inventory accuracy improves from an average of 65% with barcoding to an average of 95% with RFID. Improved accuracy means fewer out of stocks, fewer overstocks and fewer refunds and chargeback penalties from picking inaccuracies.
Thirdly, RFID helps you locate any item in seconds. This makes picking faster and helps prevent losses, especially with expensive assets and equipment.
In the Warehousing, Supply Chain and Logistics sector, RFID is frequently used for inventory management to improve accuracy and reduce stocktaking time and for asset management to keep track of equipment, vehicles, reusable storage and more.
Large US companies such as Walmart, Federal Express, Dell, Proctor and Gamble and General Steel have already implemented RFID in the supply chain. In the UK, Tesco, Marks & Spencer, Zara and other companies are using RFID. In a 2018 GS1 UK study, 10 retailers with combined yearly sales of €94 billion trialed RFID and all of them reported a positive ROI. Small companies can also benefit from implementing RFID as a study from Nottingham Trent University found it has the same benefits for both small and large companies.
Try RFID Today
Tec-RFID is the one company you need to implement your RFID system. We provide complete RFID solutions by supplying fixed and handheld readers, printers, tags and bespoke software services. We partner with Zebra, who has more RFID systems installed than any other manufacturer and has over 300 RFID patents. Contact us to book find out if RFID can benefit your business. Leading companies are using RFID to boost productivity. Will yours be next.
Tel: 0844 870 7873