News | August 23, 2019

Gina Tricot Rolls Out RFID Making Inventory Accuracy And Sustainability A Priority

(GLOBENEWSWIRE) - Nordic ID, a Finnish technology company, known for innovative PaaS-solutions for item tracking and management, partners with Swedish clothing company Gina Tricot for real-time inventory solutions to be rolled out in more than 180 stores.

Gina Tricot and Nordic ID will roll out the cloud-based inventory solution to track all its merchandise and to create real time visibility to inventories at various locations. This will enable outstanding inventory accuracy and allow the Swedish fashion house to respond with needed actions even faster. With the help of the RFID-based inventory solution, stores can take inventory on average 1-2 times a week, allowing optimal stock balance. Sustainability is an integral part of Gina Tricot operations and this solution will give insights needed to further optimize processes. The Nordic ID inventory solution will also help to continuously track inter-store deliveries. By implementing RFID, Gina Tricot targets an inventory accuracy of 99,5 %. Typically inventory accuracy of barcode-based solutions is 65-70%. Raising inventory accuracy will result in optimized goods deliveries, a decrease in surplus as well as enables a more versatile and enhanced customer service both in-store and in the digital space.

“We are extremely excited to partner with Gina Tricot. I am convinced that we can support Gina Tricot in reaching their targets by enabling them to enhance the visibility to the inventory and optimize their operations,” says Juha Reima, CEO of Nordic ID. “We talk about The Right Amount of our customers. This means creating easily deployable and scalable solutions that help our customers to sell more, become more efficient, productive and sustainable. Furthermore, our solutions enable them to cut down on overproduction, excess and unnecessary transports.” Reima concludes.

Gina Tricot Acting CEO Joachim Modigh comments “This is part of our digitalization strategy – the implementation of new technology enables a remarkable enhancement of our service level throughout all stages. We will be able to track goods and stock level with a very high accuracy, as well as offer our customers our full range in all our channels. We have also noticed a growing interest in digital in-store solutions amongst our customers, and this technology is a prerequisite for enabling the creation of these. We chose Nordic ID as our partner as they provide us with a full end-to-end solution, and they show flexibility and long term commitment as a service provider.“

“We look forward to the next phase of our partnership with Gina Tricot. During the piloting phase we communicated openly and reaching mutual agreement was easy. Also, providing our solutions for a monthly fee makes the decision easy for the customer, as we continue to support and develop our services after the roll out is completed and no initial large upfront investment is needed,” says Juuso Lehmuskoski, VP of Services and Solutions at Nordic ID.

Gina Tricot has more than 180 stores in the Nordics and Germany. In Finland Gina Tricot has 22 stores. The utilization of the real time inventory solution will start in January 2020. The solution is implemented in all stores during Spring 2020.

With a track record of over fifteen years of developing and implementing world class RFID-based hardware and software for item data collection and consolidation as well as 30 years of servicing the retail industry, Nordic ID has vast experience of solving customer’s inventory challenges. Many retailers struggle with inventory accuracy, lacking visibility to their product flow and transparency in the supply chain. As RFID (radio frequency identification) enables large amounts of tagged items to be scanned in an instant with an accuracy close to 100%, it is a technology perfect for enhancing inventory management. Barcode reaches an inventory accuracy of 65-70% and is more time-consuming and prone to human errors, as each tag needs to be individually scanned.

Nordic ID is a full service PaaS (Platform as a Service) solutions company aimed at becoming the go-to partner for businesses that struggle with managing their flow of items. Our passion for enabling customers to manage their routine operations with ease, speed and efficiency, inspired us to develop all-in-one solutions that help companies to optimize the flow and count of goods. With our full line of RFID tracking devices and a customizable, adaptable cloud platform we simplify once tedious routine tasks and enable total process transparency. Nordic ID is listed on Nasdaq First North. www.nordicid.com

Gina Tricot
Gina Tricot is a Swedish fashion chain offering exciting, feminine fashion to women in over 30 countries. We don’t complicate things. Our strength has always been keeping things simple, which applies to our designs and working methods alike. We have a passion for fashion, with the goal of offering customers a new and exciting shopping experience. www.ginatricot.com

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SOURCE: Nordic ID