The global supply chain is what drives world economy felicitating retail, logistics, manufacturing and services all over the world. With changing business landscape and multifaceted challenges enabling cutthroat competition across businesses and global supply chain, it is pertinent that CEOs and thought leaders take decisions that enable more technological dependence and less primitive solutions.
The pandemic also disrupted global supply chains, causing shortages, delays and increased costs for many retailers. Retailers had to deal with changing demand patterns, inventory imbalances, transportation bottlenecks and supplier risks. They also had to ensure the health and safety of their workers and customers throughout the supply chain. The long covid19 pandemic also altered consumer spending habits, values and lifestyles. Some categories, such as home improvement, fitness, pet care and groceries, saw increased demand, while others, such as apparel, luxury and travel, saw decreased demand. Consumers also became more conscious of health, wellness, sustainability and social impact when making purchase decisions.
All of this forced Retailers to adapt their product offerings, pricing strategies, marketing messages and loyalty programs to meet these changing needs and preferences. To achieve that, supply chain visibility became the top priority.
Many business leaders, under these circumstances, are now focusing on modern age IoT and AIDC technologies in collaboration with artificial intelligence and machine learning technologies. AI and ML have the capability to leverage various technologies within its scope like deep learning, big data, and predictive analytics to provide businesses with clean data and actionable insights, driving growth and creating value.
What is RAIN RFID?
RAIN RFID is short for Radio Frequency Identification and the word RAIN is taken from the same. It is a short-range wireless technology that uses radio wave signals to automatically identify and track tags attached to objects. RFID tags contain electronically stored information which can be read from up to several meters away without requiring clear line-of-sight.
RFID technology can be used to track and manage inventory in real-time, reduce the risk of theft and loss, improve supply chain visibility and traceability, enhance product quality and safety, and enable automated data collection and analysis. RFID technology can be used for asset tracking, access control, and payment systems as well.
RAIN RFID and AI are the Key to Global Supply Chain Visibility
RAIN RFID in supply chain management has the potential to improve inventory accuracy, reduce labor costs, increase efficiency and enhance customer satisfaction while leveraging artificial intelligence business can unlock the huge amount of data that is generated on daily basis. While RFID can enhance the item-level visibility by tracking assets throughout the inventory, it is the AI that can clean the vast amount of data, and generate actionable insights. AI can take the data away from data silos and deduce patterns and using predictive analytics, it can forecast future patterns in business operations.
By combining these two, the real-time item level tracking and data analytics, businesses can remove supply chain bottlenecks, enhance visibility and accuracy, and streamline the supply chain.
Here are some reasons that illustrate how RAIN RFID and AI are the Key to Global Supply Chain Visibility:
1. Automation in shipment verification
RAIN RFID has the potential to track shipment location in real-time and verify shipments with ease. It eliminates the need to manually scan each and every asset, pallet and vehicle whenever a shipment arrives or leaves the inventory, which earlier would take hours and some human errors to complete the task. AI here can be used to generate patterns and order forecasts so that businesses are better prepared.
2. 360-degree visibility
RAIN RFID can provide businesses with item-level tracking and accurate data on stock availability at premises. This will not only enhance the asset visibility but also the global supply chain visibility. Furthermore, AI algorithms can be used to analyze trends and weak links and bottlenecks and decisive, timely action can be taken for enhancing the global supply chain.
3. Delivery rate accuracy
A GS1 survey highlighted the fact that two of the most concerning subjects disrupting the retail business and supply chain are visibility and order fulfillment. Customer expect their orders to reach on time and reach accurately, and undamaged. RAIN RFID can help with that. With tracking delivery consignment in real-time from the moment it lefts the facility to the moment when it is delivered, RFID can ensure that package is visible throughout the route. It will ensure accurate and timely delivery and if there is a pattern of delays and inaccuracy, at any end, Artificial Intelligence can analyze the data generated by RAIN RFID and provide with exact report and insight where you need to make changes.
Use of modern technology is the only decisive choice businesses now have in this industry 4.0, the digital age. Digital transformation of businesses has become a necessity and RFID and Artificial Intelligence can help you remove supply chain bottlenecks and streamline the global supply chain visibility so that small businesses and end customers find their package on time, undamaged.
- Last updated on May 18, 2023