People often cite the need for better handling of time. Time has become a hot commodity and something customers crave. In fact, people consider time a luxury and is an integral part of convenience. Businesses wish to capitalize on this with strategies that give a Time-Based Competitive Advantage. They do this through implementation of new technology. That new technology is RFID.
RFID technology has been available for years. However, it is only in recent times that is has seen a heavier implementation in grocery stores. Grocery retail chains like Tesco utilized RFID-based self-checkouts along with other chains like Costco to save the store and store employees time and allow customers to things on their time. This makes customers feel more satisfied and leave employees with more time to assist and maintain the stores. Although RDID has its setbacks, it still offers many advantages. This essay will talk about such advantages.
RFID may contribute in a positive way in the grocery retail industry. This is because it has potential to increase the assisted sales factor and inventory turnover, which has an associated effect on increased sales rate. In other words, it contributed the generation of a time-based competitive advantage. RFID makes for quicker inventory turnover, improving business efficiency. Since RFID allows for a decreased level of store inventory the business can achieve, it promotes higher rate processes that generate profit and create competitive advantage. Current literature explores the various ways RFID and Time-Based Competition are create a synergistic and positive effect on the grocery retail industry.
In a 2012 book discussing fashion supply chain management, the authors discuss results of RFID use on sales and inventory. The results were positive with RFID aiding in increasing assisted sales factor. "These results are based on the assumption that the extra time made available by RFID technology is spent serving a greater number of consumers, who can be expected to visit the store when the economy is healthy" (Wong & Guo, 2014, p. 220). The chapter continues by adding the longer time employees have to assist customers can only be efficiently utilized when there is a strategy strongly founded on staff-assisted sales. However, when low periods of sale and demand exist, like witnessed in...
The greater the functionality of the tag the higher the frequency required to communicate the contents of it, hence the spectrum of frequencies shown in Figure 3, Comparison of RFID Frequencies. Figure 3: Comparison of RFID Frequencies Sources: (Cheung, Chu, Du, 2009) (Wang, Wang, 2009) The greater the frequency of a given set of tags the greater the flexibility and the more data they are often capable of storing, capturing as they
?RFID Implementation in Wal-Mart s Supply Chain How RFID Technology is Revolutionizing the way Wal-Mart s keeps Inventory Contents Introduction 3 Company Background 4 Advantages of RFID 5 RFID Infrastructure Requirements 6 Paperless Inventory Tracking 7 RFID and Perishable Goods 8 RFID and Shrinkage 9 Conclusion 9 Works Cited 11 Introduction The short-term future at Wal-Mart in regards to inventory management will unquestionably contain of some forms of radio-frequency identification (RFID). Though the equipment for these methods of inventory management has been around for quite some time now, the costs per
Wireless Broadband Technology Overview of Wireless technology Presently it is quite evident to come across functioning of a sort of wireless technology in the form of mobile phone, a Palm pilot, a smart phone etc. With the inception of fast connectivity in the sphere of commerce it is customary and useful to operate from central locations communicating with the remote branches, conducting conferences in remote places, discussing with every body at every
The use of Radio Frequency Identification (RFID) on individual chocolate packing is making it possible to know item-level inventory positions within the largest retailers for example including Wal-Mart, an early adopter of this technology (Zhou, 2009). The use of RFID is also excellent at managing traceability of specific lots or delivery portions of chocolate (Pacyniak, 2006). With the many quality management concerns within the industry as a result of
There is an increasing amount of research also showing how big box retailers including Wal-Mart when they enter local economies, are driving smaller retailers that provided a basis of price competition and employment are being driven out of business (Harris, 2006). On top of their fear and anti-growth sentiment many communities have about big box retailers moving into their communities, many also fear Wal-Mart will move their manufacturing jobs overseas
Integrated Management Framework The notion of Operations Management (OM) resembles that of a tree with various branches attached to it; although each of the branches represents a separate icon, their roots are linked. Here, the various branches stand for Logistics, Purchasing, Supply Chain Management (SCM), Management Information Systems (MIS), Accounting, Engineering and Marketing. All have a different persona but play a significant role in the implementation of Operations Management and
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