Since technological innovations are impacting every facet of human life, businesses aren’t left behind and are being completely transformed to deliver value-added customer experience and operational excellence at the same time. In this context, the retail industry has completely been transformed and is characterized by automation, efficiency, and seamless human-to-machine interactions. Lowe, an Ireland-based business conglomerate specializing in Refrigeration rental products, is leveraging technology to enable efficient tracking of the products. This value proposition becomes even more critical in the realm of the rental business, as check-ins and checkouts become easier and faster with the RFID tags, integrated by Lowe stores.
Technological Framework for Use of RFID in Lowe’s Stores
Essentially, the whole automation framework resides on the RFID tags and RFID readers. Individual products like refrigerators etc. can be tagged with RFID cards while RFID readers can be placed on the check-in and check-out points. These can automatically be scanned and data can be stored on the cloud. This data gets easily integrated with the existing CRM solution, and insights can be extracted accordingly.
Lowe’s tracking system uses ultra-high frequency (UHF) RFID tags; equipped with a standardized coding system, UHF tags can be read automatically with a greater speed than low frequency and high-frequency tags. More so, the UHF system can be used to detect multiple RFID tags simultaneously and is robust enough to have the ability to be used in a variety of atmospheres. These tags can be read from a greater distance and the object doesn’t have to be in the line of sight of the reader in order to do that. As far as scanning is concerned, the Lowe’s Rental System is based upon fixed point reader points equipped with android tablets (integrated Bluetooth RFID readers).
Why use an RFID-enabled Tracking System?
The RFID-enabled tracking system has certainly cast positive impacts on all the business aspects of Lowe; the automated tracking system hasn’t only empowered automated tracking systems but also can deliver extreme accuracy levels. It becomes even more important given the scale and scope of Lowe’s operations as 20,000+ equipment articles are on a rental move across the globe at any single point in time. This system has completely eliminated the need of using paper-based tracking which was not only time-consuming but also very inefficient in terms of costs and workers’ efforts. It has also reduced the chances of human error in record keeping and the information can be employed for quick inventory audits. Overall, the value propositions of RFID enabled tracking system for any business segment are:
- Automatic identification of outbound and inbound rental equipment.
- Reduction in errors booking stock out and in.
- Easy integration with the existing CRM system.
- Rapid, accurate auditing of warehouse stocks.
- Fast and accurate tracking system.
Being the pioneer in the domain of refrigeration as a service (RaaS), Lowe’s Rentals is capitalizing on innovation and technology to capture a greater market share. The RFID-enabled tracking system not only delivers the optimal performance results but also reassert the positioning of Lowe’s as an organization geared towards adapting to ever-evolving futuristic technologies. Apart from delivering the obvious benefits in efficient supply chain management, RFID enabled tracking system also improves brand image and can guarantee higher ROIs within a shorter span of time.