Radio Frequency Identification, sometimes known as RFID, is becoming an increasingly important factor behind the scenes in the retail industry. For those unfamiliar with it, the technique includes radio frequency, often known as RF, to convey information about the specific identity of an item (ID).
At a distance of several feet and in a couple of seconds, an RFID scanner can identify or "read" hundreds of tags. This results in a decreased dependence on barcodes for managing inventory within the retail industry and paves the way for more sophisticated applications that use real-time data.
RFID's potential in the supply network has always been there, even if the technology's origins can be traced back to the retail sector. The huge improvement in stock accuracy that RFID delivers has been credited with increasing sales and laying the groundwork for omnichannel commerce.
Moreover, since a significant number of global merchants have already integrated RFID technology into their retail outlets, these businesses are beginning to exploit and make use of RFID's potential across the supply chain.
Data exchange and access are both simplified by the use of RFID technology. RFID tags provide businesses with the ability to swiftly account for products that are in transit as well as gather data on the commodities, which can then be sent to other supply chain partners. RFID has a significant effect on supply chain operations because of its ability to improve precision, efficiency, and transparency.