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For many retail stores there are two key factors that contribute to the loss of revenue, which are inventory tracking and theft. These two factors also play their role within a medium-sized business called On Target, a newer sporting goods store. For smaller businesses, lost revenues are harder to recover and deal a larger monetary blow compared to larger businesses that have more avenues to protect themselves. Digital Fortress has been asked to manage a project that would produce a solution that would minimize lost revenue from inventory errors and theft tracking, and this project team has formulated its recommended solution in the form of this report. The recommendation is to add Radio Frequency Identification (RFID) tags to the entire inventory in the store, which will increase inventory tracking speed and better tracking of inventory lost due to theft.
RFID tagging utilizes microchips that can send radio frequencies that are received by an RFID receiver, which tell the receiver what ever information needed to be received, such as price, location, or type of item. These micro-sized chips are small enough to be placed on an item without detracting from its appearance, and are powered by antenna placed within a slim sticker-like film for easy discrete application.
The time it takes to implement this system can be seen in the following project plan. From the time Digital Fortress receives the project until the system is initiated and completed, it would take approximately 95 days to fully become an RFID system store. This detailed plan describes the various steps taken to insure a successful transition and minimize mistakes that may occur. First, the needs of th ...