Investments in RFID inventory tracking enables retailers to offer a flexible e-commerce fulfilment model and allows them to proactively manage inventory. And with consumers resetting the expectations of fulfilment to fast and convenient, the COVID-19 pandemic marked a dramatic acceleration of the importance of supply chain visibility. Because of this, businesses cannot make fulfilment promises to their customers without an accurate view of their inventory. In the meantime, consumers are also becoming increasingly aware of the far-reaching implications of how they shop, consume and dispose everyday items.
In response to these shifts in consumer behaviour, retailers and brands now need to break down their inventory silos and create a single view of stock across their entire supply chain. The best way to do this is by tracking every unique item’s movement throughout the supply chain and collecting data in a cloud-based inventory repository. Whether it’s in-store, a distribution centre or through loss prevention efforts. This enables businesses to keep track of every single item using RFID technology, from the moment it leaves the production factory to the exact moment the item is shipped, sold or returned.