RFID/Asset Management RFID: A “Must Investment” for Process Plants
Ever spend minutes on searching for tools or components? Ever wondered if a specific item is in–stock at the warehouse? Radio Frequency Identification (RFID) and real–time tracking can help to overcome this problem – and have become affordable lately. Learn, what users experienced and how to make best use of RFID for your business...
The omnipresent Radio Frequency Identification (RFID) technology offers huge potentials for factories and process plant: Business experts promise fast return–of–investment, improved efficiency and added ease in operations, making RFID a "Must Investment".
Use of Radio Frequency Identification (RFID) is one of the important steps in process automation as it improves maintenance operations and efficiency as well. May the industry be any; RFID helps in many ways. In fact, businesses are more likely to implement RFID and Real-Time Location Systems (RTLS) to track assets and improve security than for compliance or supply chain applications. Asset tracking is one of the leading RFID applications.
This is because the process improvement delivers some of the clearest benefits and fastest ROI. Businesses can realistically expect full ROI for RFIDbased processes in 30 months, and sometimes as low as 18 months, according to an Aberdeen Research study.
RFID Technologies Enable Significant Benefits:
- Process automation—Businesses from manufacturers to retailers gain unmatched flexibility to adapt RFID to support specific, unique processes.
- Deep visibility—Management can control project timetables and goals at a finer level of detail.
- Tailored solutions—The wide variety of tracking tasks means more RFID technology, frequency, standards, and product options.
Discover the Value of RFID for Your Business
As ARC Advisory Group wrote in its 2007 RFID Manufacturing Outlook, “Compared to the challenge of generating ROI from retailer mandate-driven RFID implementations, numerous opportunities exist for internal RFID applications to generate ROI for manufacturers within the typical 12 to 18 month period.” Businesses can match RFID technology and its application to specific requirements.
Depending on the project goals, common objectives include saving time, preventing errors, ensuring process integrity, or performing other specific functions beneficial to the organisation. Instead of asking, “What do we need to do?” to comply with RFID requirements, users can ask, “What can RFID do for us?”