Rfid Tags Essay

Submitted By random4321
Words: 2234
Pages: 9

Table of Contents
Part 1...................................................................................... Product Description
Part 2...................................................................... Analysis of Current Market
Part 3.................................................................................................................. Market
Part 4............................................................................................. Product Benefits
Part 5.................................................................................... Current Competition
Part 6................................................................... Product Sales & Distribution
Part 7................................................................................................. Case Summary

Product Description * Our business will be offering product indexing, tracking and analytics solutions. * * The Tag: * Our system indexes a company’s merchandise through the application of a small radio-frequency identification tag (RFID tag) to each product (alternatively, they can be affixed to a specified region where the product is shelved). The tags interact with the packaged software to provide information as to the location and number of products available, among other features (see Analytics).

The Software:
Our solutions are packaged with a base software that is customized to meet the needs of your business. The simple interface provides the information you need at the fore-front - clutter-free! Different workspaces are provided to meet the essentials for store-front clerks, restocking personnel, and management. All provide a clean, data-rich view providing relevant product location, movement, and quantities. This allows retailers to more efficiently access and manage their resources.

Mobile applications are also available to provide customers with inventory quantity and location. Customers can make filtered searches to find the products they want, and their locations. They can make a shopping list, receive recommendations of other products they may be interested in, and find the best path to collect the items on their list.

The Analytics:
Beneath the RFID tags and product information lies a powerful tool - the analytics engine. This program utilizes the database and tracks changes to recognize trends and allows users to easily identify optimal placement for new products, suggest purchasing rates of inventory to have sufficient supply available, and provide quantifiable feedback as to how earning potential is being maximized for each product using our our signature optimization algorithms.

Analysis of Current Market
Opportunity Gap:
Many companies invest vast amounts of time and money to manage their inventory. Some, such as Action Trailer Sales# have turned to an in-house RFID system to manage their resources as there isn’t a company providing the necessary services to meet their needs.

Window of Opportunity:
RFID tags are presently in use for other purposes such as managing global supply chains# (when coupled with GPS technology), for making transactions using banking cards#, and in other industries. Currently there RFID tag systems have not filled the need of both resource tracking and detailed product analytics as to popularity, their accessibility within the retail outlet and suggesting beneficial relocation choices to increase a product’s sale. not be targeted at retail stores for the purpose of product tracking, coupled with detailed analytics. Our company provides solutions to suit multiple business needs for retail firms through the use of RFID tags and powerful, user friendly software. The RFID technology is relatively inexpensive (as they can be produced for as little as a few cents per tag#), which makes this a viable and cost effective investment to improve business operations.

Economic Factors:
Mega-stores, large retail stores carrying an…