The globalization of food supply chains is having a profound impact on the way that retailers manage distribution and stock. The visibility, speed, and increased stock accuracy offered by RFID gives grocery stores and food retailers the insights they need to make more informed management decisions. Grocers not only have to maintain adequate stock of thousands of different items, they must also monitor and maintain highly perishable inventory, such as meat, fish, poultry and produce, and track sell-by dates on all products throughout the store. It is widely reported that retailers suffer 10% loss in revenue through out of date stock waste. We envisage a future in which RFID technology helps food retailers reduce in-store waste by approximately 20 percent and reduce labor costs by 50 percent through improved efficiencies. Avery Dennison is already supporting this vision with technologies that allow for intricate quality control, from measuring food temperature through the supply chain with TTSensor PlusTM to delivering more resilient and efficient supply chains for RFID.
As consumer demands continue to shift, the opportunity to engage with consumers through the product itself is becoming ever more important. Direct LinkTM uses NFC technology to interact on an item level with consumers both in-store and post purchase, creating endless marketing opportunities.