Businesses nowadays are focused on improving their operational efficiency to stay ahead of the competition. In various industries, businesses are adopting RFID (Radio Frequency Identification) technology to increase transparency of their assets and inventory and to keep their business processes running smoothly. Asset tracking systems using RFID are widely being used across many major industries including logistics, automotive, manufacturing, retail and construction. According to recent research, the RFID technology market is estimated to reach $40.5 billion by 2025.
Asset tracking system using RFID
RFID is a more sophisticated technology compared to barcoding and GPS that is utilized by asset tracking software. RFID technology takes over your tedious manual tasks such as asset control and inventory counting within seconds. It uses an electromagnetic field to automatically track and identify tags attached to items. The tags consist of electronically stored information which can be viewed on RFID readers through radio waves. RFID readers that are usually installed at storage areas can detect items up to 6600 feet away. They are also utilized to quickly give a total count of the number of items available just within seconds. They sure provide ease and quickness that can prove to be valuable for asset protection.
In this blog, we have enlisted a few key benefits that your business can enjoy implementing an asset tracking system using RFID technology.
Read more: RFID Tags: What are they and how do they work?
The evolution of RFID asset tracking technology and implications for the future
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. Continue reading
Why businesses must use barcode tracking systems
We are all surrounded by barcodes whether we know it or not. From the goods you purchase at stores, to mail, and to identification cards, those small images of lines or bars are not simply mere lines. They are encoded with information for identification purpose. Barcode technology has become so mainstream that consumers don’t even tend to take notice of it but nonetheless it continues to beep its countless benefits for a variety of industries.
Radiate productivity across your organization with barcode tracking
Productivity is critical to the success of a business. When you are productive, you will remain competitive in a business environment roaring and slashing with challenges. It is a MUST to remain competitive to be successful in today’s business landscape. Barcode tracking technology helps to improve the bottom line and zealously meet competitive challenges your organization has to face every single day. The perfect duo of barcodes and data collection technology offers accurate, efficient and faster way of collecting, processing, transmitting, recording and managing data in different industries. When you have better and more information, you can get your hands on better opportunities to scale up and get the jump on the competition.
Barcode tracking solutions have showered businesses with countless benefits and it is this technology that paved way for globally connected distribution channels you are able to witness today. Big corporations like Walmart are able to ensure that they have products that are properly priced and stocked around the world. This vital tool is increasingly helping small and medium businesses as well along with government agencies and hospitals to track their valuable assets, improve efficiency and increase productivity. Continue reading