IMPACT OF RADIO FREQUENCY IDENTIFICATION ON RETAIL INVENTORY MANAGEMENT




Abstract:
The goal of inventory management is to have products in right location, right time and right quantity, with minimum time and cost waste. Technology that promises to reduce time, cost and improve customer satisfaction is Radio Frequency Identification (RFID). This paper explores potential benefits and challenges of the application of RFID in retail operations, specially related to inventory management and out of stock reduction. Paper concludes that properly implemented RFID technology can significantly reduce out-of-stock rate, which primarily comes as result of improved stock accuracy and reduced inventory shrinkage.

CITATION:

IEEE format

R. Avlijaš, M. Heleta, G. Avlijaš, “Impact of Radio Frequency Identification on Retail Inventory Management,” in Sinteza 2014 - Impact of the Internet on Business Activities in Serbia and Worldwide, Belgrade, Singidunum University, Serbia, 2014, pp. 893-897. doi: 10.15308/sinteza-2014-893-897 

APA format

Avlijaš, R., Heleta, M., Avlijaš, G. (2014). Impact of Radio Frequency Identification on Retail Inventory Management. Paper presented at Sinteza 2014 - Impact of the Internet on Business Activities in Serbia and Worldwide. doi:10.15308/sinteza-2014-893-897

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