|Tech Data's head office in Clearwater, Florida. / Photo by: Mikereichold via Wikimedia Commons|
IT products and services distribution company, Tech Data, recently forged a partnership with Keonn Technologies, a manufacturer of radio frequency identification products. The strategic partnership will allow advanced inventory systems to improve sales and stock management of retail groups.
Radio Frequency Identification or RFID is a product that comes in software and hardware forms. The product uses radio waves to automatically identify and track tags attached to objects which can be inventory items. Each tag contains information that has been stored electronically. The RFID products from Keonn will implement the connection to cloud-based services and IoT ecosystems to improve accuracy rate.
"Using RFID can boost inventory accuracy up into the high nineties, which delivers many benefits for retailers, including stock reductions, sales uplifts, fewer markdowns and reduced stock holding. We are extremely pleased to partner with Keonn to combine the benefits of RFID with the power of cloud to deliver a complete end-to-end solution for improving consumers' shopping experiences," explained Kevin Kennedy, senior vice president of Advanced Solutions at Tech Data.
The Keonn Intelligence Inventory Management is an automatic inventory that uses a cloud-based handheld reader and a cloud-based software platform. Users of the system can receive information from AdvanScan and review them in AdvanCloud.
The AdvanScan obtains data from inventory items with a typical reading accuracy rate of 98 percent. The obtained information contains both text and visual details of the items, which is sent to AdvanCloud. The system does not require a local computer to work; instead, it needs a working Wi-Fi to function.
The AdvanCloud acts as a remote management system for inventory items. It allows the user to identify, review, and store data sent from AdvanScan. It also monitors the interactions between shoppers and the AdvanLook, an interactive display in retail stores that offer visual recommendations to customers. All data can be accessed anywhere, used to generate reports, and applied in business strategies.
Tech Data supports multiple companies in more than 100 countries. The partnership will help improve the reselling power of supported retails groups.