It is estimated that retailers lose $5.8 billion a year in sales because of stockouts and other supply chain inefficiencies like lost items and pricing errors. In the UK alone, more than £9 billion worth of food, beverage and consumer products are thrown away due to being damaged or out-of-date.
Reducing inventory errors requires the accurate tracking, tracing and identification of individual items. In today’s supply chain, products are commonly misplaced, lost or forgotten, with significant impact on wastage and storage costs.
As our Silent Tags are addressed independently, they do not require sophisticated anti-collision mechanisms; therefore, our Silent Tags require fewer transistors than traditional design. This makes them suitable for manufacturing using printed electronics, a technique that can significantly cut costs by directly printing tags onto products or packaging. Furthermore, as each tag is addressed separately, the Intelligent Object Tracking System achieves near 100% accuracy in scanning tagged products.
Our Intelligent Object Tracking System can be used to accurately and affordably track and identify clothes in a store and detect misplaced products and stockouts. It can also be used to control stock of medicines, apparel, footwear or any low-cost consumer goods.
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