SML, global leader in delivering high-performance and high quality encoded RFID tags for the majority of successful RFID retail projects, has today announced their entry into six tangential markets that can benefit from item-level RFID solutions.
Sharing many of the same business case elements and omnichannel models that are driving adoption in the apparel and footwear segments, SML has identified the following market segments to pursue item-level inventory management:
Mobile phone and accessories
Cosmetics & Fragrance
Wine & Spirits
These segments share the same major challenges and resultant pain points with assortment inventory accuracy that has been found inside the Apparel and Footwear segment. “Our market analysis shows that all of these segments have significant issues with inventory accuracy, and when you combine state of the art RFID tag technology with best in class item-level inventory management functionality, unprecedented results are easily available,” said Dean Frew, CTO/SVP RFID Solutions, SML Group.
Smartphone and accessory sales are in the billions. However, inventory management has been difficult for stores at retail level with missing phones and accessories; leading to missed sales. SML has delivered an excellent solution to one of the top retailers in UK with hundreds of stores working in realtime to help a mobile phone provider reduce out of stock items, increase sales and reduce shrink.
Fragrance is one of the top sellers with high shrink rates. SML now has unique tagging and packaging solutions for this category that has been traditionally challenging due to liquids, metal content in foil/packaging. SML also has unique tagging solutions for eye-wear to ensure display compliance and auto replenishments for on-shelf availability.
In addition to the above segments, Wine & Spirits, Food, and Pharma also have significant pain points around brand authentication, verification, and diversion avoidance. With unique RFID tagging solutions designed to address traditionally tough categories, utilizing many years of know-how on product packaging design, inlay design, tag placement the SML Clarity™ High-Definition Enterprise Solution offers a world class offering to new tangential RFID markets that will increase sales, reduce shrink and enable emerging omnichannel models.
Case studies demonstrate that the Clarity™ solution greatly improves inventory accuracy, with retailers experiencing greater than 98 percent accuracy. Clarity™ has been designed to enable full operational control and new inventory management processes based on years of in-store experience.
“Retailers attending NRF 2018 can visit SML booth #938 and talk to our experts about how retailers around the globe are finding value using SML RFID technology and solutions,” said Mr. Frew.