What is RFID asset tracking and how your business can benefit from it

Radio frequency identification technology (RFID) can be traced back to second world war. The first application of RFID was initiated by the Germans to detect fighter planes. As more countries realized the benefits of this innovation in the 1960s, RFID was developed even further. Soon, what started as a war weapon became widely accepted by the general population. The economy progressed to using electronic surveillance article tags to check for theft in the packaging departments. After the success of this operation, RFID tags became popular within the mass markets.

Fast forward to 2018, RFID is one the most extensively used mechanisms by the commercial business sector. The use of this technology has rapidly increased due to its unbeatable benefits for warehouses and asset tracking. For this reason, RFID is being adopted by the retail sector and is expected to have a market worth of $14.9 Billion by 2022. According to research, RFID improves inventory accuracy from 70% to 98%. Given the rise in efficiency due to smart asset tracking, the wise move would be to invest in this technology. RFID is budget-friendly, as it is less expensive as compared to printed codes and helps cut down unnecessary costs. The next big business trend is undoubtedly radio identification and it is here to stay.

To help you understand what exactly is RFID asset tracking and how it works, let’s look at some of its features:

Feature #1: Unique asset identities for faster retrieval

Imagine for a second, that you are trying to find a small tool like a stapler, in your inventory room and you have no clue where to start! Situations like these are very common when you don’t have an organized way of labeling your assets. Inability to invest in a robust tracking system costs you time as well as pulls down your performance curve. A possible solution to such issues is to generate unique codes for all your inventory items. This is where RFID asset tracking technology comes in.

So, how does this work? With the use of RFID, you can easily tag all your inventory items, whether small or big, with a customized identification number. Doing this helps to maintain an electronic database where data can be stored and retrieved without any hassle. Having all your asset information at one place speeds up management processes!

Feature #2: Accurate information through automatic tracking

Data handled by humans have a higher chance of errors as compared to the software programs. When you are manually entering information about an asset you are likely to miss out on important details. As a business stuck in tough competition, you cannot let a few mistakes pull you down. To eliminate such inconsistencies from your data, you have to automate your asset tracking routines.

You can start by using RFID tags. These labels help you store identities and relevant data which can be read electronically, thereby reducing the need for human intervention. The procedure is pretty straightforward. RFID tags on your assets can be accessed through readers or portable devices linked to computers. Error-free data through RFID asset tracking helps improve data transparency and increase productivity.

Feature #3: Wireless connectivity for smooth work operations

For businesses which operate in huge warehouses, assets are placed miles apart and can be difficult to manually track. Employees often end up losing tools, in the absence of a mechanism to trace locations. Luckily, due to advancements in RFID technology, businesses in this age don’t have to face these challenges. Warehouse management is much more streamlined with effective inventory control practices. One of the most popular techniques deployed by RFID asset tracking is wireless connectivity.

This is as simple as it sounds. You no longer need to carry around your label readers with you everywhere. The connection between the asset tag and the reader is maintained over a short wireless signal. This distance can be as little as 1 cm for some readers and at maximum 10 m for advanced devices. How does this help your business? Unlike plain old code reader devices, you can now retrieve your assets without them actually, being in sight. Sounds pretty sophisticated right? With the use of RFID labels, you can track your assets through wireless connectivity, within a certain geographical location. This helps you to implement seamless inventory control routines for your tools and machines.

Feature #4: Multiple tag detection for upgraded asset optimization

Daily work operations involve the use of various complex assets items. To ensure an organized workflow, employees have to electronically check-in and check out the tools they want to use. For businesses on the move, time management is essential and cannot be wasted on inefficiencies in work routines. Say, for instance, you have a construction project the next day and you want certain types of equipment to be checked out and transported to the location as soon as possible. Instead of scanning items one by one, you can do it all in one go. This is only possible with the use of RFID asset tracking technology.

RFID readers can retrieve data on multiple asset tags at a single time. This feature allows you to carry out mass data collection work operations seamlessly. When your inventory is readily available for use, employees are more likely to complete their daily objectives. Effective asset management leads to utility optimization and faster business growth!

Boost business growth with RFID asset tracking

Companies that make smart investments tend to get a higher rate of return. In order to optimize asset utilization, it is necessary that you resort to robust inventory control practices. High-performance technological advancements have enabled organizations to refine asset management routines to obtain improved outcomes. One such way of doing so is through RFID asset tracking.

Easily accessible for the whole company, RFID tracking comes with supercharged features for your tools! You can carry out streamlined work operations with flawless asset activities while minimizing the chance of loss and theft. Upgrade your business plans to include RFID technology and maximize your returns today!

Share queries on RFID asset tracking software?

EZOfficeInventory supports robust RFID tracking, which enables small businesses and institutions to improve inventory performance.The software lets you carry out streamlined asset control practices to increase productivity.