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Aberdeen on RFID Adoption in Retail
Aberdeen Group has released the latest installment in a series of reports on RFID adoption. Entitled , the report is available free for a limited time. Report author Russ Klein herein summarizes the key findings of best-in-class retailer end users and makes recommendations for other retailers to follow.
Apr 13, 2007—This article was originally published by RFID Update.
April 13, 2007—Retailers are notoriously cautious when it comes to adopting new technology and upgrading core infrastructure. Yet Wal-Mart has almost single-handedly catalyzed the RFID industry with its mandates and broad implementation of auto-ID. Some smaller retailers with less influence over their supply chain partners have experimented with RFID; but Wal-Mart's early success is difficult to translate and does not serve as a useful roadmap for them. In a competitive and cost-sensitive industry such as retail, customer satisfaction and inventory visibility are crucial to profit and growth. This new report from Aberdeen is a roadmap for the rest of the retail community who desire to achieve those goals through best-in-class use of RFID.
Best in Class Performance
Aberdeen used four key performance criteria to distinguish Best in Class companies. These key performance indicators (KPIs) are reduced inventory replenishment time, fewer markdowns or less inventory spoilage, fewer incidents of theft, and shorter lines at the point of sale. Best-in-class retailers showed improvement in all four areas averaging:
Survey results show that the firms enjoying best-in-class performance shared several common characteristics with respect to their RFID implementation strategy, such as:
In addition to the specific recommendations in chapter 3 of this report, to achieve best-in-class performance, retailers must:
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