Future Group is in talks with Cisco Systems, one of the world`s largest networking companies, to implement Radio Frequency Identification (RFID) technology in all its retail formats in India. An agree
Future Group is in talks with Cisco Systems, one of the world`s largest networking companies, to implement Radio Frequency Identification (RFID) technology in all its retail formats in India. An agreement is expected to be materialised by later next month. The largest RFID implementation stalwart in Asia, the project will be made through Future Knowledge Services which specializes in high-end analytics. Almost one million Stock Keeping Units out of a total of 3 million will be tagged with RFID chips. The company has fixed a price band of Rs.400 and above for all commodities which will be tagged over a period of one year. Future Group first experimented with RFID technology at their Tarapore warehouse. This technology is anticipated to be a very strategic move as far as logistics for such a huge retail player like Future Group is concerned. Almost three million pieces are scanned six times a day which makes it 18 million scans per day to keep track of inventory. Considering the growth in volumes of the retail business, they will need to scan almost 30 million scans per day which is not feasible to be handled manually. RFID solves this problem. RFID increases efficiency levels as it offers complete visibility in the supply chain. In fact, once RFID is implemented by Pantaloon Retail, it will put pressure on various retailers also to switch to the technology.