Living Inventory – Hospitality companies that have invested in PAR level’s Living Inventory are reaping the benefits in stock control, customer experience and profit margins. Those who are yet to invest are lagging behind and will ultimately see this reflected in their comparable performance. Essentially, the key to a successful back of the house lies in stock availability and RFID ensures stock levels are optimized to meet internal customer demand.
Inventory, Receiving and Fulfillment are still fundamentally manual and paper laden. Discover wireless identification tags, wireless appliances and wireless handhelds for real-time inventory, seamless receiving and accurate fulfillment to proactively liberate the “heart of the house” redundancies.
For years businesses have relied on “shelf to sheet” with paper and pen to help decrease shrinkage and ensure accurate inventory. However, businesses are seeking ways to further streamline operations and optimize their inventory. With the attachment of Radio Frequency Identification (RFID) tags, each item in a supply chain can be uniquely identified by its attributes such as size, location and cost. This allows for greater inventory control and visibility, enabling to reduce out-of-stocks, increase shelf availability, and periodic replenishment. Additionally the same RFID tag being used for inventory management can help better manage shrinkage by identifying items that may have been stolen, further improving inventory accuracy and shelf availability. It is here that RFID can play a key role and we are finding creative new uses for it every day to transform the customer experience.
RFID’s maturation into mainstream hospitality is illustrated by the uptake from PAR level, a hospitality ERP system. Hospitality companies using PAR level are seeing a clear reduction in out-of-stocks while increasing the on-shelf availability of items which enhances the customer experience. Indeed, RFID is able to identify each unique SKU and distinguish between size, location and cost, all the time allowing complete traceability throughout the supply chain. This traceability means logistics can be fully automated, keeping errors to a minimum and stock control accuracy at 95 percent and 99 percent efficiency; minimizing out-of-stocks. In addition, RFID-based inventory audits can identify stock items that are stale and therefore need to be removed from the shelf, or hard goods which may have an expiration date. The increased granularity of RFID-based inventory management results in further improved inventory management systems and better customer experience. In the same vein, “smart shelves” know how many and which SKUs they carry and which are most popular with requisitioners. RFID also offers the possibility of personalized, interactive messages as requisitioners tour their virtual warehouse either via a smartphone, tablet or desktop computer.