What is Inventory management technology?
RFID Technology
Inventory management technology is a software system for tracking inventory levels, orders, sales and deliveries. The data is captured by a device that stores the information in a database which is then transferred through a communications interface to a host, where the data can be stored and analysed. Although there are many industries that can benefit from using Inventory management technology, we at RIOT Insight provide solutions for retail stores, giving our clients state-of-the-art technology for inventory control, salesfloor replenishment, real-time visualization of store stock taking and scan information, and RFID EPC tag voiding.
Inventory management technology is required to precede the regular and planned course of production and stock of materials to reduce their carrying costs by automatically collecting data, conducting calculations, and creating records. This not only results in time savings, cost savings, but also increases business efficiency. RFID software can help distributors, wholesalers, manufacturers and retailers optimize their warehouses.
Inventory management technology features:
Asset management.
Inventory forecasting.
Quality management.
Price forecasting, demand forecasting.
Item tracking.
Stock taking and stock reorder alerts.
Returns and defective goods
RFID and barcode technology are used in similar ways to track items, but radio-frequency identification tags do not require a direct line of sight to be read, RFID data can be updated in real-time, and barcode data is read-only and cannot be changed.
RETAIL MANAGEMENT SYSTEM
A retail management system (RMS) is a platform that combines several useful tools to aid in running a retail store, such as inventory management and point of sale (POS). As a retail business, you can’t afford to lose stock or write-off unsold goods.
RFID SOFTWARE
Radio-frequency identification, or RFID, is a form of wireless technology that is encoded in smart tags and captured by a reader through radio waves. An RFID system consist of: 1. scanning antenna, 2. transceiver and 3. transponder. RFID is the most advanced technology for retail stores to use. Inventory check-in, inventory counts, salesfloor replenishment, and product location can all be done in minutes by using RFID technology.
RFID APPLICATIONS
The simultaneous scanning of products with an RFID reader also drastically lowers the time spent on inventories which brings a rise in productivity and less manual work for your staff. With RFID technology your staff can then concentrate on sales and customer service, instead of stock taking.
INVENTORY MANAGEMENT TECHNOLOGY
Inventory management technology is required to precede the regular and planned course of production and stock of materials to reduce their carrying costs by automatically collecting data, conducting calculations, and creating records. This not only results in time savings, cost savings, but also increases business efficiency.
RFID SOLUTIONS
RFID solutions gives the retailer detailed information on inventory levels, as well as detailed information of stock quantities, models, colours and sizes. RFID solutions are used for the following: stock taking, manage inventory, RFID scan encoding, product locator and salesfloor replenishment, RFID EPC tag voiding.
RFID INVENTORY MANAGEMENT
RFID stock control or RFID Inventory management is the process of managing products in a retail store by using RDIF tags, readers and software (also known as an RFID system). A proper RFID inventory management system is required to precede the regular and planned course of production and stock of materials.
RFID READER SOFTWARE
RFID is a modern alternative to barcode scanning and combined with RFID reader software provides the retail owner with accurate and up-to-date data and statistics. Retailers can use the RFID reader software to: manage inventory, RFID scan encoding, RFID EPC tag voiding, product locator, stock taking and salesfloor replenishment.
RFID INVENTORY CONTROL
Maintain accurate stock counts, reduce errors, and avoid time consuming manual entry of items with our RFID inventory control software. RIOT real-time inventory reports allow you to compile and analyse essential data, like transactions, inventory levels, or individual customer purchase order history.
