Nedap was founded in 1929 in Amsterdam and for more than 90 years, we have served people with technology, contributing to their professional lives. In 1947 we were listed on NYSE Euronext Amsterdam and in 1973 we started pioneering in RFID technology. Out of this, Nedap Retail was founded.
Why was Nedap Retail founded?
Nedap Retail was founded with the mission to make it simple for retailers to always have the right products available, at the right place at the right time. We do this by helping retailers achieve perfect inventory visibility, with zero waste and no losses.
In 2016, we launched our in-store RFID solution iD Cloud, which has now evolved into the Nedap iD Cloud Platform, a source to consumer platform. It has been deployed in over 10,000 stores across the globe, which makes Nedap iD Cloud the fastest-growing RFID platform available today.
How has the company evolved during the pandemic?
Globally, the COVID-19 pandemic has had a great effect on the retail industry as lockdowns and restrictions prevented in-store shopping experiences. This change in buying habits throughout the pandemic meant that the already fast-paced retail industry had to evolve to meet new consumer demands.
In the current climate, consumers have reset the expectations of fulfilment to be increasingly fast and convenient while the COVID-19 pandemic marked a dramatic acceleration of the importance of supply chain visibility.
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With stores being closed due to lockdowns, retailers with a perfect view on inventory visibility were able to continue to make fulfilment promises, using their stores as mini-DCs and shipping items directly from their stores to consumers. RFID Technology enables this flexible e-commerce fulfilment model that allows retailers to proactively manage inventory.
So this opportunity allowed Nedap to expand as RFID is needed to change the way retailers view their inventory throughout every level of their supply chain. The approach taken throughout the pandemic will have a lasting impact on retailers and change how they view inventory management in the future and I’m proud that we were able to launch our successful iD Cloud Platform during these challenging times.
What can we hope to see from Nedap in the future?
RFID is starting to become a no-brainer in apparel and footwear retail and with the recent news of Walmart expanding its use of RFID technology to improve inventory accuracy, the spotlight will continue to shine on new use cases and other retail verticals.
With the ongoing adoption of RFID, the consumer demand for omnichannel services and the need for retailers to find new ways to enhance their store network, stock accuracy and visibility are vital.
Retailers must be able to present store stock online without overstocking and meet customer demand in all channels while safeguarding margins and minimising waste. You can expect Nedap to accelerate into the future as we continue to meet the needs of an evolving retail landscape. For us that means continuing to create solutions that help create perfect inventory visibility with zero waste and no losses. Because that’s our vision for every retailer in this world.
