Accurate stock management is always the goal. It makes every part of retail easier, from customer satisfaction right through to accounting. It’s a critical process for any business holding any stock.
But when you’ve got stock flying all over the place and more sales channels than you can shake a stick out, how can you keep tabs on it all? In a word – ORP. Yes, our trusty Omnichannel Retail Platform wired into some RFID tags, and you’re all set. Here’s how.
The Power Of RFID In Retail
RFID (Radio Frequency Identification) technology, particularly systems like Nedap, has transformed inventory management. With RFID tags embedded in products right from the manufacturer, retailers can easily track stock coming in and going out of their business.
The benefits go beyond cutting down on theft, it's primarily about accurate stock-keeping – which often surprises people. We’ve implemented an integration between Nedap and our ORP with the store at a Premier League club in the UK (we can’t name names, but they’re a big one) and it’s been really successful.
Imagine you go to a match, decide to buy a personalized shirt from the team's website, and complete the purchase online. With ORP a QR code is generated and sent to you, which you then show to a customer services agent at the store. The sales representative scans it, activating the ORP system that verifies your purchase, and you then get your snazzy new shirt.
Upon completing the sale, a message is sent through ORP to Nedap, deactivating the alarm on your item so you don’t make a bunch of noise when you walk out of the store for the second half. A truly seamless omnichannel experience.
For non-custom stock that is returned, it is moved to a virtual location until it’s processed back into stock – meaning the inventory stays up to date. Handling returns can be cumbersome, but with our approach, it's hassle-free. Items not meant to be counted as available stock, like returns, can be placed in a lead box, effectively removing them from the inventory count.
With ORP you can even enable a quick inventory sweep through an app, giving you precise stock counts whenever you need them.
Connecting Tech, The Wolfpack Way
Whether it's theft, damage in transit, or any other issue, our system's use of virtual locations streamlines the handling of stock mismatches. This is especially critical for businesses operating on a large scale, where manual processing becomes impractical and error-inevitable (that’s one step on from error-prone).
By integrating ORP with RFID technology, we're not just enhancing stock accuracy; we're also promoting sustainability. This system reduces the need for printed materials, saving ink and paper, and reducing the workload on staff. It's a win-win for both the environment and operational efficiency.
We want to continue refining our Nedap integration, and as they develop their APIs further we’ll be able to do even more like synchronize stock information across all web channels in real time. Again, it’s all about creating a seamless omnichannel experience.
Want a piece of the seamless omnichannel pie? We don’t blame you. To get started, you need the system that links all the others together, and that’s Wolfpacks’ ORP. Contact us today.