Goodson Imports, Syscan International and Retail Alert Group launched a new RFID inventory management solution at Retail Expo Australasia, which is currently being held at the Sydney Convention and Exhibition Centre.

The VUE Technology RFID Item Level RFID solution provides retailers with a comprehensive inventory management system which claims to increase sales by 12 to 15 per cent, has 99.99 per cent accuracy, and delivers a 50 per cent reduction in stock-to-floor labour efforts.

“This new RFID technology means stock numbers, availability and even a product’s location can be reported to staff at any time,” said Tony Standley, principal, Retail Alert Group.

“A store’s walls are fitted with antennas which talk to the RFID panels on each product so if a pair of jeans is moved to the wrong spot, staff will be notified where it is and, more importantly, where it should be, which also offers an intelligent security solution.”

The new RFID system creates a communication system between an outlet’s floor, back-of-house, its warehouse and even stock-in-transit, as the wall’s antennas detect when stocks are low, items need to be replaced, and whether they are onsite or on the way.

Nine West, American Apparel and New Balance are currently using the new technology in their American outlets.

Goodson Imports joins more than 220 other local and international exhibitors at this year’s Retail Expo Australasia, which has attracted record registrations.

Industry members can still attend the exhibition which closes 5pm today.