Inventory management, purchasing practices and risk management are all critical components in the supply chain-and all require accurate tracking, management, and reporting of goods and services from the point of origin to the point of consumption.

RFID is an enabling technology that helps ensure that companies provide the right product at the right place-and the right time. RFID provides the technology to identify each container, pallet, case and item being manufactured, shipped and sold, providing increased visibility throughout the supply chain.

RFID in forecasting and planning - Visibility improvements throughout the supply-chain can help to improve forecasting capabilities to help better track where inventory is and what is happening to it throughout the supply chain. Eliminating out-of-stock conditions, via better RFID product tracking and inventory visibility and forecasting, can have an immediate top-line revenue impact and residual effects by improving customer service and satisfaction.

RFID in retail environments - RFID-enabled checkout can be completed with a quick scan of all items in cart, helping to reduce point-of-sale labor costs. The current scan-it-yourself component of self-service checkout can be improved, helping to increase adoption, reduce self-service checkout times, and diminish fraud. RFID can and has been successfully deployed—particularly on higher margin items—to help prevent theft.