July 25, 2024 — Recent data show how dramatically RFID improves efficiency in the retail supply chain. Several sources have released exciting updates on the RFID market. These findings cover the global supply chain to give exceptional insight into the retail market as a whole. According to a report by Statista, the retail industry discards $163 billion worth of inventory annually, "due to expiry and overproduction." Worse still, retail generates over 90 million tons of waste every year, a considerable impact to the environment.
A report released by Raconteur, The Future of Supply Chain & Procurement, highlights the quantifiable benefits businesses have realized by using RFID in their supply chain. Substantial cost savings have been achieved by improving inventory accuracy, reducing out-of-stocks, and enhancing overall supply chain transparency. After implementing RFID, Auburn University noted that retailers have increased inventory accuracy from 65% to an unprecedented 99%.
Curiously missing from these reports is a crucial component: software. Trilliott answers the call with its novel SmartSITE Digital Supply Chain™ and Digital Warehouse™ apps, components of Trilliott's SmartSITE SaaS platform that automates all major RFID use cases to provide real-time visibility and analytics for the entire retail product lifecycle.
"Operational and meta data live in the cloud, and are linked with edge RFID workflows enabling businesses to efficiently track and manage inventory from inception of the RFID label, to consumer activities like registering warranties and downloading product manuals," states Booth Kalmbach, Trilliott CEO.
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Trilliott SmartSITE™ is an RFID-first warehouse and supply chain management service for businesses to digitize high-value, high-demand inventory and assets, improve accuracy and control, secure and analyze transactions, and manage asset lifecycle.
Media Contact:
Franklin Kalmbach
Product Manager
Trilliott, Inc.
+1-919-832-8642
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