About 40 years ago, a technology came onto the scene that revolutionized the way businesses managed their inventory. Can you guess what that was? It was barcodes. More than four decades later, barcodes still play a critical role in retail operations.[i]
But a new technology is slowly taking over that is helping retailers manage their inventory more efficiently – and drive additional sales: RFID. By implementing RFID, retail leader Lord & Taylor not only achieved a two percent lift in its shoe sales and but also realized significant labor savings.