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Myer Achieves Near-100 Percent Inventory Accuracy With RFID
Since deploying a solution from Checkpoint Systems, the Australian retail chain has reduced inventory count times, decreased shrinkage, and boosted sales at its stores and online.
Mar 19, 2019—
Australian Department store Myer has cut its inventory-counting time from hours to minutes, and has reduced shrinkage of high-value electronics merchandise, with an RFID solution that tracks goods as they are received and sold at five of its stores. The technology, provided by Checkpoint Systems, was piloted at one store with a single brand of electronics. It was then expanded to more locations, once the company determined that the technology reduced inventory-counting times from more than two hours to less than five minutes, and provided nearly 100 inventory accuracy.
The pilot took place last year at the company's flagship store in Melbourne. One category of electronics brand was tagged when products were received at the store. Those items were counted during scheduled inventories with RFID readers, then their tags were read a final time via a fixed reader as they were sold. After three months of testing the technology and analyzing the data, Myer reports that it achieved an increase in both floor and online sales, as well as a reduction in shrinkage. The pilot at Myer's Melbourne store has now been extended to its high-end apparel department, and the technology has also been deployed at another four stores.
Therefore, says Gary Stones, Myer's head of retail operations, the firm wanted to explore the use of RFID technology to improve inventory accuracy throughout its organization, far beyond simply tracking some high-value products. "As Myer currently fulfills online orders from stores," he explains, "the need for improved inventory accuracy is ever-increasing as we grow our digital store."
The solution consists of UHF RFID labels from Checkpoint's Apparel Labelling Division, along with handheld readers for inventory tracking and fixed point-of-sale (POS) readers. Myer is using Checkpoint's HALO software platform for data management, as well as the technology company's POS solution, says Nicole Smith, Checkpoint Systems Australia's customer relationship manager.
Hosted within the Microsoft Azure environment, Smith says, the HALO cloud-based software-as-a-service (SaaS) platform offers the retailer speed-of-deployment and scalability capabilities at a global scale, as well as security updates and disaster recovery. The system also comes with a RESTful application programming interface (API) to enable integration with retailers' enterprise resource planning (ERP) and other back-end management systems.
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