UPPING THE ANTE: USING RFID AS A COMPETITIVE WEAPON TO FIGHT SHOPLIFTING AND IMPROVE BUSINESS INTELLIGENCE
UPPING THE ANTE: USING RFID AS A COMPETITIVE WEAPON TO FIGHT SHOPLIFTING AND IMPROVE BUSINESS INTELLIGENCE David C. Wyld1 and Michael C. Budden2 1Department of Management, Southeastern Louisiana University, Hammond, LA USA 2Department of Marketing & Supply Chain Management, Southeastern Louisiana University, Hammond, LA USA ABSTRACT This paper explores how RFID (radio frequency identification) technology can be employed to fight the ever-growing shoplifting problem, estimated to cost the world’s retailers almost $100 billion annually. The paper provides an overview of RFID technology. We then analyze how RFID is beginning to see utilization in-store not just for security, but as a vehicle to improve inventory management and business intelligence as well. This paper demonstrates that RFID is poised to usher in a whole new direction in the fight against retail shrinkage, and we discuss what this visibility will mean for their companies, their employees, and thei...
