Inventory integrity is a cornerstone to making accurate business decisions, keeping customers happy and production processes humming. Not knowing the correct amount of inventory on-hand can be costly in terms of lost sales, lost inventory, storage costs, excess safety stock orders, production downtime or miscalculating the liquidity of a company. Inaccurate inventory counts can also lead to the mismanagement of products with expiration dates (except fresh foods, pharmaceuticals, and medical supplies) as well as lower product quality as old products become obsolete, or worse, don’t perform to requirements.
An Electronic Product Code (EPC)-enabled Radio Frequency Identification (RFID) solution uniquely identifies and enables accurate tracking of inventory as it moves through the supply chain and within facilities (at the manufacturer, retail stores, distribution centers, depots, etc.) to ensure companies know not only how much of an item there is, but where it is. This new visibility into their stock enables companies to trust their demand signals – ensuring their customers have the products they need and the basis for more informed business decisions.
An EPC-enabled RFID solution:
- Eliminates manual counts and raises inventory accuracy up to 99%
- Reduces human error in order processing and accurately and swiftly validates product quantity and characteristics against sales orders
- Provides accurate and timely views of inventory levels – ensuring the right product is available at the right place and time
For more information about how an EPC-enabled RFID solution can better control and manage your inventory, please call +1 937.291.3300 or email EPCinfo@gs1us.org