Dr. Bill Hardgrave, President of the University of Memphis, discussed his journey from founding the RFID lab at the University of Arkansas to leading the lab at Auburn and now Memphis. He emphasized the importance of inventory accuracy in omnichannel retail, noting that only 17% of retailers display in-store quantities online. He highlighted that 74% of consumers research products online before buying in-store, underscoring the need for accurate inventory data. Hardgrave stressed the evolution from traditional retail to omnichannel, where customers demand seamless experiences across channels, and poor inventory accuracy can lead to lost sales and customer dissatisfaction.