BENEFITS OF RFID
Why do you need it? How does it affect your business?
The many benefits of RFID technology make it possible to build a solid business case for its use in different industries and for different applications.
RFID is used across construction, engineering, the chemical industries, manufacturing, retail, logistics, and the public sector as well as many others. However, the value of the various benefits of RFID is often different in different sectors.
Here are some of the benefits of RFID:
IMPROVED QUALITY DATA CAPTURE
IMPROVED REGULATORY COMPLIANCE
ACCURATE AND RELEVANT MANAGEMENT INFO
Lower Cost & Higher Productivity
RFID applications can automate the collection of information about the movement and location of assets, components, stock or other items; doing this more quickly, whilst reducing costs and with greater accuracy and reliability than is possible with manual methods and with more detail than can be obtained from techniques such as bar-coding. Data collection can be a by-product of other activities, eliminating the need for effort in form filling. Identifying products using RFID is quicker than barcode scanning or manual entry of product details.
Improved Quality for Data Capture
Using an RFID approach means data can be captured rapidly and accurately. Electronic data collection with RFID avoids data transcription errors and avoids “missed items” when used to collect data on large numbers of items at once.
Reduced Capital Costs
RFID technologies help to lower costs by providing better control of stocks or assets. They can help keep track of business assets such as test equipment, transport packing, computing technology and other portable devices.
Access control systems using RFID contribute to improved security of business premises. RFID tagging of stock and assets makes it easier to track inventory “shrinkage” and tags can be used to fight against product counterfeiting.
By reducing stock-outs, by avoiding the credibility gap between notional stock available for orders and actual stock present in the warehouse, and by offering improved information on product movements to customers, organisations using RFID can provide a service that creates competitive differentiation and promotes increased customer satisfaction with the opportunities for higher sales and better margins.
Because RFID technologies can be integrated with other manufacturing or supply chain technologies (automated pallet handling, stock picking systems, etc) the time from order to despatch and delivery can be reduced.
Improved Regulatory Compliance
Using RFID to control when devices have been inspected or to restrict their movement can form part of a strategy to address health and safety issues or to satisfy insurers or regulatory bodies that processes are being followed.
More Acurate, Relevant, Current Management Info
Because RFID allows data to be captured in real-time as stock or assets are moved detailed, up-to-date, management information is available for planning and operational management purposes.