RFID promises to change the way you go shopping
Retail market tends to adopt the technology
The future retail store is just around the corner. Imagine a grocery store where one can buy products sans the long wait at the payment desk and a vexatious scanning process. Radio Frequency Identification Tags (RFID), that makes shopping simple and is a hot item, currently in the overseas retail market, may soon become a regular feature in Indian retail shop.
All leading retailers in India including Shoppers` Stop and Pantaloon Retail (India) are in process of bringing this revolutionary technology into their shopfloors. They are currently in the process of discussions with technology companies such as IBM to create a suitable model. Some companies have already started creating model stores to set the ball rolling. Bangalore saw one such store in India by Wipro, which is just a live demonstration of how the technology works.
A few retailers have zeroed in on areas where RFID can work. They are looking at applying RFID technology in the non- inventory merchandising management. RFID tags are specially coded pieces of cloth or plastic, which send information to transmitters over radio frequencies. Unlike barcodes, which should be scanned by lasers, antennas away from the actual tags can receive RFID.
Industry sources say that Indian retailers may prefer using the technology for effective supply chain management. Putting RFID tags in goods, which move from the warehouse of manufactures to retailers shop, is expected to result in cost savings. When RFID tags are embedded into product labels, retailers can take a complete inventory of all the products in a single moment, helping to control the theft and cut the costs. Shoppers have the advantage of getting the bills as soon as they are through with the shopping.
A proper infrastructure is required to implement RFID solutions in the supply chain management. Multinational FMCG companies, who are major suppliers to retail companies in India, are already using the technology abroad.
