Demand Forecasting in Retail using RFID Technology
In retail management, retailers face inadequate stock accuracy, out-of-stocks, object location, inventory management, internal shrinkage, and supplier frauds. Unfortunately, a retailer's profitability may be negatively affected by the loss of any of these systems. While the advanced item-level intelligence RFID solution technology enables the consistency of information and brings insight back into the supply chain by enhancing the data integrity at the item level. Resolution with the Advance Technology RFID tags use an extensive technological concept that acknowledges retailer’s requirements and provides several approaches to prevent theft while improving the quality of item-level data. It's great that you are visiting the grocery store, loading your basket and going straight out the door. And, you've skipped the billing that lets you look at the cashier, who picks things one by one from the bin. The mystery behind that is RFID (Radio Frequen