Periodic Reporting for period 1 - WAVESHIELD (Re-inventing Paint – A Pioneering, Dry Paint Film for Radio Frequency Identification applications)
Reporting period: 2018-12-01 to 2019-04-30
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.
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.
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.