Smart technology is becoming more and more popular in retail stores as it provides owners with secure, trustworthy, and easily manageable solutions to problems they are experiencing on a daily basis. Some of these problems include stock and revenue loss due to expiry dates, shrinkage, inaccurate inventory management, and more.
In this article, we will discuss how RFID-enabled smart fridges can be utilised within the retail industry.
What Is an RFID Refrigerator?
An RFID refrigerator is a refrigerator that has been fitted with RFID technology in order to function as a smart fridge. Some of the RFID equipment that is installed includes readers, antennas, and multiplexers. The products that are stored in the fridge are also individually tagged to ensure the effective gathering and management of information.
The Benefits of an RFID Fridge for Retailers
The introduction of RFID into fridges has yielded various benefits that are helping retailers run their businesses more effectively.
A Smart Fridge Can Manage Expiry Dates
Perishable items reaching their expiry date before being sold is one of the largest causes of revenue loss within stores. RFID-enabled smart fridges offer a solution to this loss. Each item within a smart fridge is fitted with an RFID tag that contains the expiry date of a certain product. This ensures that a store owner will be able to drastically reduce the amount of stock lost due to food reaching its expiry date, as store owners are not able to sell products after they have reached or surpassed their expiry date. Therefore, products fitted with RFID tags allow a store owner to easily and quickly identify which items are nearing their expiry date. They are then able to place those items on sale to entice shoppers to purchase those specific items.
RFID Refrigerators For Inventory Management
As every individual item is fitted with an RFID tag, the store owner or manager is able to track every individual item’s location. Information on stock levels in the fridge is also provided in real-time. This allows for store owners and managers to ensure that all fridges are sufficiently stocked at all times. It also ensures that you are always aware of when to order new stock. The long-term metrics will be able to provide information on the amount of stock required, ensuring that one never orders too much or too little of a specific item.
How a Smart Fridge Can Prevent Shrinkage
As fridges are stocked with perishable items such as milk, meat, fruits, and vegetables it is important to ensure that one keeps these items at the perfect temperatures. RFID smart fridges can be fitted with temperature control mechanisms ensuring that an item stays fresh for as long as possible and stock isn’t lost to freezing, wilting, or rotting. As each item is individually tagged, it will also drastically reduce the chances of theft.
Increase Your Staff Efficiency With an RFID Fridge
As the RFID fridge will constantly be updating you on stock levels in the fridge, staff will be able to restock when necessary. This will save time for staff members as they will not have to manually check stock levels throughout the day. Therefore, staff will be able to focus more intently on other tasks and provide greater customer service.
All of these benefits save the store owner money, while increasing sales due to available produce, the prevention of goods expiring, and a higher level of customer satisfaction.
Milestone is a company that specialises in the sourcing and installation of RFID solutions in retail stores and various other industries. Contact our team to find out more about how you can implement RFID solutions in your business.