New RFID Solution Boosts Sales, Lowers Costs for Retailers

"Intelligent Systems, a division of MeadWestvaco, today announced a suite of intelligent RFID networking hardware and software offerings that enable retailers to deploy affordable item-level tracking solutions. Because the Intelligent Systems approach addresses core retail business challenges while reducing hardware required for deployment, a typical return on investment is less than two years. U.S. retailers lose an estimated $50 billion annually from out-of-stocks and an additional $31 billion annually due to shrinkage, according to industry research. Intelligent Systems' item-level solution streamlines inventory management, reducing this financial impact and improving customer service for retailers. Studies have shown that a centralized item-level RFID solution such as this can increase sales and lower costs by reducing out-of-stock by as much as 50 percent, and cutting restocking time by as much as 65 percent." Source: Intelligent Systems via Yahoo