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RFID 'can save costs'
6 July 2009

RFID - the technology behind contactless smart cards such as the sQuidcard - has been linked with cost savings for retailers.

Putting to one side the technology's potential to allow eMoney to be used on contactless smart cards in a cashless society, the RFID Weblog instead focuses on its uses as an inventory tool.

The resource asserts that RFID can allow stock-taking to be carried out up to 80 per cent faster than with alternatives such as bar codes.

For retailers which keep a regular check on stock levels, this can equate to substantial savings in staff costs as workloads are cut from full days to a matter of hours.

The assertions are based on calculations made by Mark Roberti of the RFID Journal.

Mr Roberti adds that the cost benefits to be derived from RFID - including the estimated 14 per cent boost that might be expected of sales from keeping more accurate inventories - are such that he is surprised investors have not yet demanded that the technology be supported.