RFID Systems for Asset Management – The Young Technology on Its Winning Path

In the competitive business era, success is mainly about maintaining the focus between increasing efficiency and decreasing the operational cost. Advancements of technology world do attract industries to fetch the maximum out of tech tools to accomplish their business objectives. Diversified RFID systems are one the young technological developments that are expected to automate many laborious processes in industries like retail, supply chain and logistic, manufacturing, aviation, hospitality, healthcare.

RFID Radio frequency identification is a simple form of wireless communication. It has got ability to detect objects through radio signals. Based on requirement and usage, its different frequencies are utilized to create RFID systems with different standards.

Out its many active usages, the most popular usage is related to asset visibility. Once the little, battery free and barcode look like RFID tag is fixed with the asset, it is easy to track that asset with integrated readers or systems. It is possible to use relevant RFID solution as an independent asset management system. The best part is potential RFID systems can easily get integrated with enterprise solutions or other software solutions and enable the end to end automation of asset management along with relevant compliance processes.  

Customized or industry specific RFID system solutions have positively influenced many critical business areas.

Effective inventory management: Inventory issues are one of the most critical affairs for many industries such as retail, manufacturing and healthcare as sometimes they unnecessarily block the flow of investment. Poor inventory management may lead to loses as well. Asset Management System using RFID not only increases the accuracy level at inventory but also supports the strategy of driving profitable business through efficient inventory management. Easy tracking of asset type, quantity and location along with its predefined movement priorities provides a clear and bigger picture visibility to decision makers.  

Smooth supply chain management: Supply chain plays a vital role in on time delivery of goods leading to greater customer satisfaction and long term business relationships. Business houses keep maximum efforts to make it cost effective and error free. Asset Tracking System using RFID can manifest the possibilities of having smooth and reliable supply chain. Shipping items glued with RFID tags allow the head custodian to recognize that how transportation is transpiring. RFID systems specific to logistic industry can deliver even more effectual results in systemic approach of handling routine or event base freightage operations.

Escalated security of assets: Security of goods or assets is of course very significant for any business. Whether the assets are sitting in inventory or they are involved in any other process, their security does matter to industries. Especially for high priced assets, it is feasible to integrate RFID systems with security alarm system through customized application of technology. Precise solutions offer even advance features and they can obstruct any unapproved movements or activities if done while handling assets.

Automated record and compliance management: Industries such as healthcare and aviation have to maintain huge level of record keeping for the assets as a part of regulatory compliance procedures. Advanced RFID solutions consolidated with enterprise solution or other relevant software solution automate this tedious, time consuming still extremely crucial practice.

Reduction in operating cost: As projected, it has been noticed that strategic usage of RFID systems reduces total operating cost up to possible level. It enables maximum utilization of asset life cycle, especially in industries like aviation which ultimately gets resulted in optimum cost saving.

Incredible quickness in work flow: It is possible to set up automated tracking of multiple assets concurrently. It is also feasible to set up the digital signal to observe them as per predefined parameters. It saves huge amount of human time and efforts and make the work toil free. As a result, business houses can easily optimize their routine work practices.  

So far, logistic and aviation industries have tried to explore the maximum advantages of RFID solutions and have achieved remarkably positive results as well. Retail chains have also initiated experiments with such technological advancements.

Technically, there are various methodologies for development, customization and implementation of RFID system solutions. RFID specific iPad Application Development is also a popular technique in which the iPad application gets incorporated with the RFID reader and enterprise solution to attain desired goals. As mentioned, this technology is still passing through the young phase and there is a long way to go.