RFID is a more sophisticated technology compared to barcoding and GPS that is utilized by asset tracking software. The major advantage of using RFID is its ability to scan items from a distance, read multiple tags at a time and of course its speed. RFID technology 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 reader through radio waves. RFID tags can be detected up to 6600 feet away and RFID readers are used in warehouses or other storage areas. It helps them read tags on different products. 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.
We have enlisted 4 benefits that your business can enjoy implementing asset tracking system using RFID technology.
1. RFID tracking increases asset visibility
RFID takes care of not just asset tracking but also inventory management. You cannot just track your inventory but also track the movement of your trucks, returnable transit items, forklifts and other valuable assets that go in and out of your facility on a regular basis. All this tracking is done in real-time. In case of barcodes, you need a clear line of sight to barcode scanners and you won’t be able to scan an item when you don’t even know where it is. However, RFID will give you the ease of being able to locate everything you have ever lost or misplaced.
The first and foremost benefit that RFID asset tracking offers is the necessity and convenience of increased asset and inventory visibility. RFID tags are readable from anywhere in the company letting employees instantly know the quantity and location of each item. This gives the whereabouts or status of any shipment that has left your facility. This eventually allows businesses to resolve issues that can stem from oversight, misplaced materials, poor organization and mistakes made because of manual processes. Furthermore, it lets you make decisions on the fly and make changes like rerouting items real quick.
2. RFID tracking eliminates any delay in product deliveries
When your internal teams and divisions are unable to achieve efficient production flow due to bottlenecks, what happens? Businesses waste labor efforts and there are unwanted delays in product delivery. When there is lack of visibility in items that are actually moving through stages of distribution or production, products don’t reach the place they should and at the time they should. Consequently, this adds extra expense, erodes customer confidence and stocks unwanted items.
Luckily, you get to cut down on this sheer dependency on employees to perform manual functions with RFID. You can simply automate everything with asset tracking system using RFID. Having real-time visibility to production offers analytics that removes bottlenecks and accelerates product delivery times.
3. RFID tracking system mitigates loss, theft, and risk
Does your business involve high-value assets that are rented and returned on a regular basis? Yes, then just one mistake in record keeping or single missing piece of equipment can have a huge impact on your profits. Maybe you just want to gain quick and easy access to location and inventory information – to keep track of when items are replenished, distributed or stored and confirmed for delivery. Whatever the case, RFID asset tracking solution is the answer!
With extreme transparency that RFID technology offers, there is little room for foul play or error. When you are able to track the movement of each and every asset in your facility, you make sure that all items are accounted for that mitigates costly risks like theft, counterfeiting, maldistribution, and loss. These risks take a tremendous amount of time and money to be fixed.
Also, RFID technology utilized to manage inventory ensures accurate asset or item identification whenever an asset enters your storehouse or warehouse. The check-in and checkout processes associated with asset tracking system using RFID are extremely accurate which can hold customers or employees accountable whenever the actual checked out assets are not returned.
4. RFID tracking reduces labor costs and increases productivity
RFID technology does not need your employees to be within line of sight of an asset in order to locate it. The asset is identified and scanned automatically as it moves between or within facilities when it has an RFID tag on it. The employees don’t have to waste their time scanning individual barcodes or counting inventory amounts.
This allows you to speed up tasks and cut down on your labor costs related to tracking assets because now you don’t require teams of people to manually scan or log the movement of items. Moreover, there are no more headaches and expenses that come from misplaced or lost assets. Now your employees have more time for improving the bottom line.