This fall SOLE will implement a Radio Frequency Identification (RFID) system to track inventory in real-time with an integrated point-of-purchase display, product tags and a retailer website.
“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’ve got 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.”
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.