SOLE Launches Radio Frequency Identification System
High tech inventory mangament system helps maximize sales
08.12.2009 – This fall SOLE, the manufacturer of premium footbeds, socks and sandals, launches an innovative new technology to help its retail partners efficiently maintain product inventory and maximize sales. SOLE’s new Radio Frequency Identification (RFID) system will track inventory in real-time with an integrated point-of-purchase display, product tags and a retailer website.
Most retailers only track sales on a monthly basis and they risk losing three weeks of sales if a product sells through in the first week of the month. Even if inventory levels are analyzed on a weekly or daily basis, retailers can still lose sales due to processing delays or shipping and transit times. Footwear is especially difficult to track and keep in stock because there are as many as ten sizes in any given style.
“We recognized a long time ago that optimizing inventory is a universal challenge for both manufacturers and their retailer partners. As such, we targeted inventory management as an area ripe for system innovation,” states SOLE president, Mike Baker. “We have a really strong tech team on staff so when we couldn’t find a third-party solution we liked, we built the RFID system ourselves. We think this will be a game-changer for our business and potentially throughout the industry.”
The SOLE RFID system is elegant in its simplicity. Each pair of SOLE socks, footbeds and sandals is labeled with a microchip that is encoded with product and order details. A small hardware box installed on the base of a POP display or on a wall reads the tags and transmits the data back to the SOLE retailer website. The password-protected website has a simple interface that allows retailers to view on-hand inventory, place orders and track shipments, all in real-time.
“We can set up this system to automatically place an order electronically as soon as inventory drops below a pre-determined threshold,” continues Baker. “Auto replenishment reduces carrying costs for us and our retailers, while also assuring retailers have the inventory they need to meet projected sales.”
SOLE has multiple live installed RFID locations now and plans to roll out another 20 locations to select retailers this fall.
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- SOLE's innovative new radio frequency identification system tracks inventory to maximize sales.
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- Every SOLE product is labeled with a microchip
- The SOLE point of purchase display has integrated hardware to track inventory
- The POP display transmits data to a website where retailers can view inventory and place orders in real-time
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