COVID-19 and your business
RFID tracking has been long coming as the inevitable future of textiles management. However, it never did, and it’s now at least 10 years overdue. Reasons given to explain this failure are cost, lack of accuracy and the absence of tangible benefits.
At LossLess Group, we have systematically worked on fixing each of these concerns. As regards cost, our system basically pays for itself from the savings it generates. Accuracy we achieve through a patented aggregation algorithm built into the system.
Our value propositions generate multiple benefits, not only measured in operational and financial terms.
Our services also address health and safety concerns, and contribute to environmental sustainability.
Connecting textiles turns them into assets with a residual value. This attribute opens up lease, a transaction option not available to date. Lease marries the economics of owning assets with the cash flow benefits of renting.
Traceability provides information about the price of textiles, items in circulation, number of washes, and losses. This functionality sheds light on the composition of the all-inclusive pay-per-wash tariff, generally used in the industry.
Often, hotels and hospitals choose a rental service because they find it difficult to control the lifecycle of their textiles. This choice is made despite a lack of understanding the real economics of that service.
From a financial perspective, visibility gained from traceability begs the question if rental of assets that are used on a daily basis should still be the preferred option.
This extension of transaction models is a natural consequence of the inevitable evolution of technology. As such, it should not be perceived as offensive, but as call for change. Connected textiles is a new industry that opens up a plethora of opportunities.
Everybody has a role to play, and an opportunity to benefit from these opportunities. Contact us if you want to know more.