Feb 2020retailtechinsights.com8By Martin Ros, SVP & Head of Intelligent Packaging,Stora Enso [HEL: STERV]LOOKING FOR A RETAIL TECH REVOLUTION? IT STARTS WITH THE PACKAGINGEvery business wants to cut costs and increase profits. Almost every business, nowadays, also wants to improve environmental performance. Often, the two go hand in hand: data shows that three out of four millennia's are prepared to pay more for a sustainably produced product. For retail companies contending with traditionally slim margins and fierce competition, these things are especially important.So, how to create a leaner, greener retail operation? Unsurprisingly, the answer is technology. Perhaps more surprising for some is where to start: the technology of packaging.RFID is keyRadio-frequency identification (RFID) technology has been around for some time now, but what is new is the ability to cost-effectively print an RFID label onto paper or fibre. No need for plastics or harmful chemicals.This is the game changer because it means RFID technology can be incorporated into all sorts of products and packaging without an impact on waste streams and recycling ­ and without inflating costs. That brings a number of innovations out of the realm of `what if' and firmly into `why not?'The RFID differenceThe ability to inexpensively track every package or product is a revolution for inventory and supply chain functions. A 2016 survey from EKN-Kurt Salmon estimated a 12 percent return on investment (ROI) for reduced time and labour costs ­ mainly through more efficient or removed cycle counts, 10.3 percent for improving backroom to front-of-store inventory accuracy and 10percent for increased store replenishment. Real-time, accurate data is transformative for keeping tabs on a high-volume, high-speed retail environmentMartin RosIn my opInIon
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