[08/27/08]
SkyeTek, Inc., the leading provider of embedded RFID solutions for field-based applications, announced the introduction of MetaFi, an application service for sales chain optimization, enabling manufacturers to dramatically improve the visibility of goods as they move outside the factory to customer locations. While much of the attention in the RFID market has focused on the cost savings from supply chain optimization - SkyeTek's sales chain application substantially increases revenue and distribution efficiency by providing accurate, real-time data on field-based inventory and employees. The increased visibility results in fewer out-of-stocks, higher inventory turns, increased sales productivity, faster invoice-to-cash cycles, and proactive removal of expired or defective products.
"SkyeTek's historic success in developing an embedded RFID reader platform for use in field based products allows us to uniquely understand the requirements of a turn-key application that provides real-time visibility to inventory and employees throughout the sales chain," said Rob Balgley, CEO or SkyeTek. "Our decision to add a business application to our existing portfolio was driven by our installed base of customers who need software to fully leverage the new data streams created from deploying readers onto their customers' premises."
Manufacturers currently struggle to gather accurate and timely data on inventory levels throughout the sales chain due to manual tracking methods used inconsistently by time-constrained field sales and service representatives. MetaFi leverages RFID and wireless technologies to provide manufacturers with the means to automatically collect, analyze, and act on real-time data from mobile field representatives and remotely located smart-containers including cabinets, totes, and shelves.
"Many RFID vendors and market observers continue to focus on technological minutiae, but the users we've surveyed and interviewed tell us loudly and clearly that to them, 'RFID' is about 'real-time, fully integrated data' they can use to improve their businesses," said Michael Dortch, senior analyst, Aberdeen Group. "SkyeTek's MetaFi solution responds to the top challenges facing RFID users - easing the integration and maximizing the business value of RFID-generated data, to help turn that data into higher revenues and better business processes."
The ROI generated by MetaFi impacts the following areas across the company:
Sales and service reclaim lost productivity by spending less time taking inventory while also increasing accuracy and frequency of data collected
Operations reduces out-of-stocks, over-stocks, and shrinkage while increasing inventory turns and SLA achievement
Finance reduces working capital, increases return-on-assets, and accelerates cash collection cycles
Legal improves regulatory compliance and decreases liability related to product expiration and recalls
MetaFi is a purpose-built, horizontal field inventory management application that allows:
Consumer goods manufacturers to augment direct-to-store delivery (DSD) operations
Industrial goods manufacturers to improve the efficiency of their vendor-managed inventory (VMI) initiatives
Medical device manufacturers to optimize consignment and loaner processes used at hospitals
Service providers (eg, utilities, transportation lines, IT managed services) to improve field productivity and SLA attainment
In all cases, MetaFi delivers extraordinary ROI with payback typically in six months or less.
For more information, please visit: http://www.skyetek.com/ProductsServices/WebServicesRFIDSoftware/MetaFiSoftwareOverview/tabid/501/Default.aspx
SkyeTek will also be demonstrating the capabilities of MetaFi at RFID World, which is being held September 8 - 10 at the MGM Grand Hotel in Las Vegas. SkyeTek will be exhibiting at booth 509.
About SkyeTek, Inc.
SkyeTek, Inc. develops reader hardware and software that enables the pervasive adoption of RFID as intelligent networking technology. Numerous Fortune 500 and mid-market customers use SkyeTek's products in applications such as item-level inventory, product authentication, and patron management. Based in Westminster, Colo., SkyeTek sells primarily through indirect channel partners. For more information, visit www.skyetek.com.
About SkyeTek, Inc: SkyeTek transforms RFID into networking technology enabling goods and assets to participate in a connected world. SkyeTek develops readers that serve as intelligent edge devices and software that binds policies to tagged items. By extending networks to the physical world, customers increase revenue through their ability to predict demand, prevent counterfeiting, and personalize user interactions. Based in Westminster, Colo., SkyeTek sells exclusively through OEMs, systems integrators, resellers, and distributors. For more information, visit www.skyetek.com or call 720-565-0441.
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