Beruflich Dokumente
Kultur Dokumente
Smart Retail Experience Using RFID Name Roll Number Chetan Kotyalkar 2009B61 Bhargav Karkar 2009C02 Tushar Milind Oka 2009C04 Anant Agrawal 2009C21
Literature Review
Merchandise planning Assortment Planning Sales planning Price management Promotion planning Warehouse management Retail Industry RFID Overview: According to IdTechEx (2006), the retail industry will comprise 44% of the global RFID market value for systems including tags by the year 2016. Expected to replace the barcode technology because: Provides much more functionalities No line of sight of the reader Speed and process efficiency
In-store operation
Return
Literature Review
Apparel retail industry is facing challenges in the form of: Increasing competition Giving better retailing experience to customers Increasing pressure to reduce costs Evolving Customers Trends More demanding Shorter fashion cycles Increase in demands for new customer experience RFID technology Raises efficiency through real time data tracking Enables innovative customer service offerings Brings Cost Savings
Customer observes the Assortment Plan in the store: Difficult to find merchandise Even more difficult to find the complementary merchandise Also customer unaware of any promotions/schemes.
Project Analysis
Shift in Focus Shift Of Focus: RFID Operational Efficiency Sales Promotional Strategy RFID in Retail Supply Chain
Project Analysis
Target Group
RETAILER Shoppers stop Ebony Piramyd Future Group (Pantaloons & Central) Lifestyle CURRENT FORMAT Departmental store Departmental store Departmental store Multi brand store
Departmental store
Implementation Challenges
The server retrieves the corresponding information from the database and sends it to a display
The display then shows the other available colors/sizes and other complementary garments
The point of sale data is captured also using this tag and then removed from the garment
The tag is re-used and updated with the information about the new garment it is being attached to
System Specifications: RFID-related hardware RFID Tags: UHF EPC G2 RFID Reader Digital Embedded Display: 21 LCD Software platform: Customized from vendors
Customer enters the changing room Following RFID tag data is read by the reader and sent to the system:
Brand Gender Type Color Promotion
Depending upon the brand, garment type and genderpromotional schemes as well as complementary products are displayed
18,000 4,000 15,000 3,000 3,000 3,000 64,500 3,000 3,000 Year 1 Year 2 Year 3 Amount Amount Amount 3,45,600 4,14,720 4,97,664 27,50,000 30,25,000 33,27,500 1,10,000 1,21,000 1,33,100 64,500 3,000 3,000 45,500 1,18,000 1,30,100
Percentage Increase in Footfalls 20% Conversion Ratio 50% Percentage Increase in Sales 10% Margin 4% Assumptions: 1) Total Merchandize at the store at a time= 70000 nos. 2) 15 changing rooms per store 3) Software costs, other hardware, training cost are assumed 4) 10% increase in sales per year due to RFID implementation 5) 20% increase in foot fall and Margin is constant at 4%
What-if Analysis
Learning
Need of integrating investment decisions with business objectives necessary Focus on business processes; technology is just an enabler
WAY AHEAD
Thank You
WAY AHEAD