Companies in the Spanish textile industry are increasingly working on technologies that simplify inventory management and help simplify day-to-day work. Especially tools like RFID technology. According to the report data, the Spanish textile industry is a global leader in the use of RFID technology: 70% of the companies in this industry already have this solution.
According to Grand View Research, RFID technology is an emerging market, and by 2028, the RFID technology market in the retail sector is expected to reach $9.5 billion. Although the industry is one of the major ones in terms of using the technology, more and more companies really need it, no matter which industry they are working on. So we see that companies working on food, logistics or sanitation need to implement this technology and realize the benefits that applying it can bring.
In fact, this RFID technology has shown many benefits at both the sales and business management levels. The application of RFID technology has brought many benefits to the textile industry. Therefore, the following are emphasized:
l Improve inventory management efficiency. By deploying RFID technology, companies can know exactly what products are currently in inventory and where. In addition to monitoring inventory in real time, it also helps in reducing the chances of items being lost or stolen, helping to improve supply chain management.
l Reduce operating costs. Accurate inventory tracking facilitates more efficient supply chain management. This means lower operating costs for things like warehousing, shipping and inventory management.
l Better shopping experience. RFID technology enables optimal inventory management, which can provide customers with a better shopping experience. By scanning a specific garment, they can appreciate information about that product and the actual availability of that model in different sizes and colors. It should also be noted that the service is not affected by the implementation of this technology. Its installation and deployment, including access points, antennas, etc., can be completed in just one night.
l Reduce sales loss. All of these benefits end up translating into significantly less chance of lost sales. That said, the technology can improve supply chain planning, which can help avoid product stock-outs.
We are currently working with an important leading Spanish retail company to deploy the solution in its own stores and franchised dealers. Like many other companies, it decided to invest in innovation and digitization to improve its services and internal management, resulting in better economics and undoubtedly a better brand.
Post time: Apr-28-2023