Inventory and equipment are some of the most valuable property companies own, but tracking these expensive assets is typically a labor-intensive, manual process. Inventory is often marked with serial numbers that have to be written down and entered into a spreadsheet. If the assets are marked with a barcode, it can be difficult to locate and scan the labels in a crowded warehouse. The solution: RFID.
Inventory Visibility in the Value Chain
RFID allows companies to obtain a fully visible value chain, automate processes and give more contextualized data on assets. A proper RFID system not only allows a company to achieve better data but it gives managers better insights on how to improve costs as well as how operations are meeting external and internal compliance measures.
Over the past decade, there as been an increasing number of industry and government regulations for certain products in science and tech fields. RFID systems are becoming far more valuable in these industries where inventory tracking is mandated and strict compliance must be met. Locationing systems ensure efficient tracking of inventory and provide full clarity on an organization’s assets whether they are being distributed, returned or relocated.
RFID provides real-time data on organizational assets and automates processes like scanning and inventory count so companies can allocate their labor toward other areas of operations.
Portals, or checkpoints, can be implemented in warehouses or loading docks. This allows incoming and outgoing products to be accounted for instantly when passing through, fully automating scanning and inventory count. Furthermore, employee badges can be integrated with RFID so managers can know who brought products in and at what time. The visibility RFID brings to organizations is invaluable. Decision-makers are given full scope of their operations and assets so they can pinpoint areas that will further promote efficiency. Additionally, RFID further promotes accountability amongst employees and supply chain partners.
Other benefits of using RFID in inventory visibility:
- Improved inventory management processes. Frees organizations from counting errors and the need for audits.
- Manage capital assets like equipment and how much it is being used.
- Portal entryways improve security and deter theft.
- Managers can make sure the workforce is operating as productively as possible.
- Locate items quickly and easily with confidence.
- Staff no longer has to perform manual scanning or tedious inventory counts.