Radio Frequency Identification, or RFID technology is used to identify and manage assets, and is becoming increasingly more popular among asset managers. The technology has become highly reliable, and managers are finding that implementing RFID tags and readers increases asset tracking accuracy and boosts business. The following are the top ten reasons why asset managers use RFID technology:
1. RFID systems are able to monitor large areas of assets without human intervention. RFID readers automatically scan both active RFID tags, which are always on and ready to be tracked, and passive RFID tags, which turn on when in range of an RFID reader.
2. RFID tags do not have to be within line-of-sight to be read. This means that assets with RFID tags can be in storage containers, in corners, or at different angles and still be read by an RFID reader.
3. An RFID reader captures all RFID tags within range at the same time. This saves significant amounts of times for asset managers taking inventory.
4. RFID technology allows for mass updates to records. Asset managers are able to apply a change of asset status to every asset in a room at one time.
5. RFID readers can be set up at receiving docks and track assets marked with RFID tags, making those assets easy to track while in-transit.
6. RFID technology can be used in high volume businesses. Because RFID tags can be read in bulk simultaneously and without any human intervention, the cost of labor for inventory audits is reduced significantly.
7. RFID technology can help reduce the loss of assets. RFID technology is reliable, and RFID readers can catch all assets marked with RFID tags within a wide range, reducing the need to find all assets within an area. RFID can also be used on pallets, trucks, and docks to track assets during shipment.
8. RFID technology reduces the amount of assets lost to theft. Because readers can track assets within a wide range, stolen assets can be identified with last known location at a specific date and time. Often just knowing that assets are marked with RFID tags acts as a deterrent to keep thieves at bay.
9. RFID technology is affordable. RFID technology has not only become significantly more reliable in the last five years, but significantly more affordable as well.
10. RFID can be used in conjunction with a cellular global positioning system (GPS), satellite GPS tags, or Wi-Fi RTLS tags. Working in conjunction with a GPS system is ideal for companies that have assets too large and widespread to be stored in a warehouse (like airplanes). With GPS systems, the location of RFID marked assets is continuously updated.
The ability to monitor large areas of assets, without human intervention and all at once, saves on the cost of human labor and decreases business cost overall. The ability to track assets in warehouses, through checkpoints, and any stolen assets en route reduces the number of assets lost, saving businesses from detrimental financial loss. Finally, the affordability and accuracy of RFID technology, either alone or working with GPS technology, makes RFID a smart and cost-effective solution for asset managers.