Digital electronic systems are becoming omnipotent by their increasing relevance to many of the day to day human activities and Radio Frequency Identification (RFID) is in the fore front in making many complex tasks involved in material management simpler and fool proof. With human cost becoming exorbitantly costly, industry and business are looking to wards cutting man power as much as possible. Modern retailing business is an extremely complex operation and RFID fits in well in making it ideally suited for retail business in many countries besides being cost-effective.
"The biggest technology breakthrough in inventory management is RFID (radio frequency identification)—the placement of microchips in product containers, cartons and packaging, combined with the use of special sensors in warehouses or on store shelves that alert a central inventory management system as to shipment arrivals, product purchases and the need to restock inventory, communicating via wireless means. From loading docks to store shelves to cash registers to parking lots, RFID readers have the potential to wirelessly track the movement of each and every item of inventory. Checkout stations will be equipped with receivers that automatically calculate purchases a of an entire cart of merchandise at a time, rather than each individual item. These systems can lead to great reductions in shoplifting and the elimination of costly manual inventory counts".
As far as Indian situation is concerned, the retail business is still in its infancy with hardly 4% of the retailing in the organized sector. Almost all major international retailers from the US and the EU are lining up for investment in this sector if GOI lifts the current restriction in FDI in retail sector and if and when that happens, RFID is bound to become part and parcel of the new players and their investments.
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