A Study Of Rfid Technology With Respect To Supply Chain Management In Retail Industry

Abstract

Retail industry is the fastest changing industry that contributed to the growth of the retail sector through RFID technology. A well-managed RFID save our lot of energy and time. RFID labels play a crucial role as an inventory tracking technology. RFID significantly reduced Operating Costs, Improved Quality, Accurate Asset Tracking, Improved Information Accuracy, Reduced shrinkage, Lower Inventory and better In-Stock position etc. Radio frequency identification is a growing technology that is more and more being used in the management of supply chain. RFID technology plays an effective role in supply chain processes because of their ability to trace, identify and track information throughout the supply chain. The technology provide suppliers, manufacturers, distributors and retailers precise real time information about the products. The primary objective of this paper is to verified Radio frequency identification technology contributing to the growth of retail sector. The main contribution of this study is to explain RFID in the success of supply chain management and retail.