As a means of improving the overall security within commercial establishments, companies have started to integrate the RFID technology, given that there are several technological advancements relative to safety and security. Radio frequency identification, popularly known as RFID, is one of the innovations of modern technology involving digital data placed in tags and labels, that when read by a device, can convert it to information that is stored in a database. It can be used in a myriad of possible applications — from tracking and tracing products, assets, and the entire material flow.
The RFID technology involves the use of radio waves in identifying and tracking objects. It is actually deemed to be a highly versatile technology, which can be integrated to businesses of all sizes. This enables businesses to rapidly improve the overall efficiency. It can reduce cost by automating processes and improving the utilization of assets and quality too. It is also considered to be an effective technology solution, a help in streamlining specific business processes while having to increase the productivity of the workforce.
RFID Technology Applications
One of the most well-known examples of applications that integrate RFID technology would be the way cars are tracked in the expressway. Additionally, it is also commonly utilized in the retail industry. It is proven in terms of the inventory management, and asset tracking, as well as for the checkout systems. RFID has been getting known and attracting more adoption from many businesses over the years. All because of having to discover its benefits and various improvements. Recent advances in tag design have been developed as well. It then drove the cost down to levels that businesses can fully accept the incorporation of this solution. Thus, it has gradually been utilized and incorporated by several industries in their supply chain and management of internal processes.
Based on the results of those businesses that integrated this technology with their processes, it has been believed that its effectiveness and accuracy rate is at least 97%, particularly when compared to other manual processes.
Tracking Assets and Managing Inventory
Keeping track of assets and materials while having to efficiently manage the inventory is certainly a challenge for most companies. And manually counting your inventory can be a tedious and time-consuming method. Thus, maximizing the use of RFID technology can help make things easier for you.
One of the main purposes of the RFID technology would be as a means of tracking the assets and managing the inventory of your business. Using this technology can be able to put code to objects and products to keep track of them. Thus, instead of having to manually inspect and check each item everyday, you can just open your database. Input the code to view the details about the products, and even locate them. Moreover, you can track the materials whether they are on their production queue, finished products to be dispatched, tools, boxes, equipment, and the like with the use of RFID technology. They serve as a reliable way of tracking all your items without the need to count all of them physically.
Actually, the versatility of RFID technology helps you in a wide range of measures. All you have to do is to know where and how you can utilize them. With this technology in place, everything involving certain business elements and products becomes easier to manage. Particularly in terms of managing inventory, controlling shrinkage, carrying out audits, and more.
Improve Operational Efficiency
With RFID technology, business owners can track assets and manage the business’ inventory easier. And along with these, it can also be a way to improve the overall operational efficiency of the business processes. Tracking employee attendance, for instance. You can be able to do this through a software tied with the RFID technology. Thereby lessening the time in settling and sorting out log-ins and log-outs of the employees. Furthermore, this technology enables employees to have a lessened workload, since it does not actually require in-depth monitoring. This makes employees efficient and productive, being able to handle other tasks and focus on more productive efforts.
Also, RFID can provide a better control of production. As it has the capability to identify individual items or components, it is then ideal for complex manufacturing processes. It makes implementing the processes easier.
Enhance Health and Safety
With the use of RFID technology, it can increase the security of various establishments. It is done through the access systems placed on entrances — doors, gates, and even lifts. It also has the ability to track guests and restrict access to certain areas of the premises. Moreover, it can be integrated as a means of checking if your vehicles and other equipment have been inspected. Or even keeping them on track if they are due for inspection. Having to keep good records of the inspection of your business’ vehicles and equipment can help prevent or restrict their use if particular safety conditions are not met.
Reduce Overall Costs
RFID technology proved itself to be able to track assets, manage inventories, improve overall operational efficiency, and even enhance health and safety within the premises. But then, it also became the reason as to how this technology helps in reducing overall costs. The business will experience reduced time in labor, which decreases expenses related to lost items, manpower, and bills as well. Thus, the improved efficiency will be increasing savings and revenue of the entire business.
Key Takeaway
Overall, the integration of RFID technology in business and commercial establishments is certainly beneficial, even in the overall growth of your company as well. This type of technology makes it a top choice for companies who are looking to increase efficiency and meet the rising demands of the consumers. It is definitely useful in terms of tracking assets, managing inventories, improving efficiency, reducing losses, and even enhancing the health and safety of everyone within the premises. It is certainly a versatile piece of technology that can be implemented in various ways — a game changer in the field of several industries.
