RFID Keeps your Top Selling Cannabis in-stock
THE PROBLEM
If you are a retailer, you need to maintain an accurate stock count of your controlled product. Doing a manual count is time-consuming and hard to ensure accuracy. Failing compliance could mean a loss of your license.
THE SOLUTION
With RFID, you can scan about 500 units per minute.
Cost Savings for RFID in Retail?
Tags
Assuming 3,000 items in inventory.
| Tag | Cost |
|---|---|
| Barcode Asset Tag | $0.01 |
| SimplyRFiD RAIN RFID Tag | $0.05 |
| Cost Difference | $0.04 ($120 on 3,000 tags) |
Audit time
Assuming the loaded rate for an employee: $30
| Audit | Time | Cost |
|---|---|---|
| Barcode @ 10 seconds per tag | 8 Hours | $240 per inventory |
| RFID @ 10 tags per second | 5 minutes | $3 per inventory event |
What's the total savings?
If you don't perform a daily inventory, how will you be compliant? How can you be sure your stock isn't missing?
At 5 minutes to perform a complete inventory, you know your stock is present—no more end-of-month write-offs or scramble to find missing product. You can stop losses as they occur.
Savings per month on a daily inventory: More than $7,000.
THE PROCESS
RFID Tags
Our TR800 rfid tags are awesome for store inventory.
Tagging
- Place the tag on the item
- Associate the tag to the product with Wave
- Take inventory with our Wave handheld
Auditing
- Each night, select the location to audit
- Squeeze trigger
- Missing items will be displayed. You can mark them as 'sold' and export a spreadsheet of missing items for reconciliation.
