Being able to tag any item or an asset or being able to automatically track or scan it and be able to get easy access or perhaps maintain detailed data about it means RFID could be applied in various ways in order to offer crucial benefits in different industries. From the supply chain, management of inventory and receiving or shipping to the management of assets, materials, facilities, quality of product and employee emergency planning and safety, potential applications are very limitless.
The various benefits of RFID technology, in fact, make it possible in building a solid business case for the use of various industries and for different applications. RFID is also used in engineering, construction, chemical industries, retail logistics, manufacturing and even on the public sector and many others more. But, the value of various benefits of RFID is usually different on various sectors.
Below are some benefits of which RFID can give.
Cost is Lower and Higher Productivity
RFID applications, in fact, could automate the collection of information with regards to the movement and location of the components, assets, stocks or other items which helps you to do it quickly and reducing costs and great accuracy and reliability, which is possible with manual methods and more detail which could be acquired from techniques like bar-coding. Data collection, in fact, can be a by-product of the other activities, which will eliminate the need for the effort through the form of filling. The case of identifying products through the use of RFID is in fact much faster compared to barcode scanning or through manual entry on product details.
Quality Improvement on Data Capture
The use of the RFID approach, in fact, means data could be captured accurately and fast as well. Also, electronic data collection with RFID avoids data transcription errors and to also avoid ?missed items? when being used in collecting data for large numbers of items all at once.
Capital Costs is Reduced
RFID technologies, in fact, helps in lowering costs by providing better control over assets or on stocks. It could help in keeping track of the business assets like test equipment, computing technologies, transport packing as well as other portable devices.
Security is Improved
An access control system through the use of RFID contributes to improved security for business premises. RFID tagging on stock and assets, in fact, makes it easier in tracking inventory and tags could be used in fighting product counterfeiting.
Revenues are Increased
Through reducing stock-outs, avoiding credibility gap between national stocks that are available for orders and actual stock presents in the warehouse and offering improved information for product movements for organizations and customers through the use of RFID, it could provide service which will create competitive differentiation and also promotes increased customer satisfaction with opportunities on higher sales and better margins.
Process is Shorter
The fact that RFID technologies could be integrated with the other manufacturing or supply chain technologies and the time from order to despatch and delivery could be reduced.
Regulatory Compliance is Improved
The use of RFID for controlling when devices are inspected or restricting movement could form part of the strategy in addressing health and safety issues or in satisfying insurers or regulatory bodies which processes are followed.