Impinj Inc. announced the availability of the Store Performance Simulator (SPS), a Web-based analysis tool built to assist retailers who are assessing the impact of RFID technology on their operations.
The Web-based tool enables retailers to compare multiple methods for improving store operations, including the use of RFID technology. It enables baseline operational performance comparisons to RFID, so the retailer can evaluate the quantitative value between adding staff, changing inventory management process, adding inventory and implementing RFID enabled processes.
With SPS, users can simulate store performance with or without RFID and with various front-stock and back-stock ratios, supply chain replenishment speeds, customer service levels, stock-taking labor rates and numerous other factors to understand the effect of these parameters on their store’s performance.
Most simulations show that by utilizing RFID technology, stores can improve inventory visibility, increase sales and customer satisfaction, decrease out-of-stocks and markdowns, and improve employee awareness of performance.