TECH BUYER Apr 2019 - IDC PeerScape - Doc # US42404818

IDC PeerScape: Best Practices for RFID-Enabled Inventory Accuracy Programs

By: Leslie HandVice President, IDC Retail Insights

Abstract

This IDC study exposes the top 4 challenges of RFID-enabled inventory processes and how they can be overcome. RFID-enabled inventory visibility impacts inventory availability and sales directly, but also indirectly, since when consumers suffer inventory availably disappointments, trust in the brand erodes. So why haven't more apparel retailers deployed these processes? A long list of reasons contributes to delays in getting RFID-enabled inventory visibility programs started and/or extended enterprisewide.

According to Leslie Hand, vice president, IDC Retail Insights, "By putting RFID-enabled inventory visibility programs on the back burner year after year, retailers are actually making it harder to meet enterprise growth targets. To keep customers coming back time and time again, the retailer must master product marketing/selling and inventory visibility/fulfillment. Performing these two fundamental things well builds and maintains long-term relationships and engenders new relationships. Unfortunately, the retailers that are failing at these two things are the retailers that are struggling with meeting business performance objectives.

The greatest failing in the physical store today among apparel and department store retailers is the inability to produce the color/style/size the consumer wants when they are present in a store. It is a failing that is difficult to measure, frankly, because many customers have already abandoned shopping in stores that disappoint. With greater levels of inventory accuracy and focused assortments, retailers will be able to confidently stock goods that make consumers feel good in shopping trips to physical stores."


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