Report
Teaser, summary, work performed and final results
Periodic Reporting for period 1 - WAVESHIELD (Re-inventing Paint – A Pioneering, Dry Paint Film for Radio Frequency Identification applications)
Teaser
Radio Frequency Identification (RFID) technology gives users access to detailed information about individual items wirelessly. In ideal situations these RFID users seek to track inventory and other items in the different sections separately. An obstacle to achieve this level...
Summary
Radio Frequency Identification (RFID) technology gives users access to detailed information about individual items wirelessly. In ideal situations these RFID users seek to track inventory and other items in the different sections separately. An obstacle to achieve this level of data is as a result of the inability to isolate RFID waves in specific sections/areas.
The importance lays in the fact that with the help of RFID technology, retailers can aim for higher sales by ensuring that they have the right product on the shelf, in the correct size and colour, and at the same time lower their inventory costs due to a more accurate supply chain.
The objective of the project is to eliminates charge back that emanates from merchandising issues, compliance marking, shortages, assortment errors, etc.
Work performed
This study analysed the viability of the development and mass role out of CorsoShield Wall from a technical, commercial and financial point of view.
We have managed to assess all the technical elements of the CorsoShield Wall project and set out a roadmap to ready to sell. We have also managed to identify all the technical and commercial requirements for our project. We carried out an in-depth RFID market study in which we established that it is a high growth market in need of better RFID shielding to enable customers to have the best experience and information from its use in retail and industry. We have managed to identify the key drivers of this market which we believe will continue to spur the adoption of RFID and hence the shielding materials. The feasibility study also enabled us to conduct an overall project risk assessment which we will use to minimise the possible impacts on the development of CorsoShield Wall.
The market study results were used to make 5-year financial projections for the CorsoShield Wall project post commercialisation.
Final results
Our project will disrupt the RFID applications market, by pioneering a dry film paint to replace the current time-consuming and non-sustainable liquid paints and paper.
We expect CorsoShield Wall to have significant positive impact on our financial performance, increasing annual revenue by a factor of 67 from the €350k in 2018 to €23 M in 2025 while also creating new jobs and supporting other existing jobs.
Societal implication to higher job satisfaction in the retail sector due the elimination of boring manual tasks allowing employees to concentrate on more challenging and satisfying work.
Website & more info
More info: https://www.corso-magenta.com/.