Sato, the barcode printing, labelling and EPC/RFID solutions provider, has published a whitepaper entitled Ensuring RFID's Bottom Line Payoff, which looks at how companies investing in RFID tagging of their products can maximise the benefits of its capability to drive business process improvement, increase supply chain efficiency and ultimately improve bottom line results.
"Instead of companies just seeing RFID tagging products as a way of satisfying the needs of their customers, and another cost of doing business, they can regard it as an opportunity to enhance productivity and profitability," said Ikuo Dobashi, Chairman of Sato Corporation and Sato International Europe.
Understanding the impact of data collection and tracking as well as data integration is essential to RFID optimisation. Internally, companies can collect data at multiple points to make determinations about process or product flow improvements or to validate proper shipment components and quantities. External data can indicate problems with either too much or too little inventory in the supply chain, product idle time that can be removed from the system or even problems associated with out of stock conditions at the retailer. By gathering the data (internal and external) and turning that data into information, companies can begin to make supply chain decisions that can positively impact how business is done.
Companies who have started applying RFID technology on their products are now beginning to realise the benefits of the additional data and the information being provided by the technology. Additionally suppliers are also seeing an internal benefit to using tagged RFID products and are finding ways to maximise the technology and benefit from the internal visibility the tagged products provide to their system.
The whitepaper gives real life examples of how retail suppliers are benefitting from installing RFID technology in their businesses. It outlines one company that improved turnaround on accounts payable and realised a two percent increase in payments that turned its cash flow 10 days earlier on $350 million in business.
To download the free whitepaper and for any further information on Sato visit www.satoeurope.com/uk/resource-library.aspx