Radio Frequency Identification (RFID) is one of the fastest-growing technologies being used in businesses today. You are already using it. Remember the last trip to the supermarket? RFID is in the barcode on your produce and the magnetic strip in your credit card. And now, companies are using RFID to handle goods efficiently, gather data, and improve customer experience. Here are some of the benefits of RFID in business.
What is RFID and what are its uses and applications?
Radio Frequency Identification (RFID) uses radio waves to recognize and capture information that has been stored in an object. In most case, this is a sticker or a card. For example, music festivals will issue RFID cards to ticket holders which let them buy merchandise, food and drinks within the grounds. Cruise or hotel passengers can use RFIDs to unlock their room doors, order food, shop at boutiques, or even get discounts at partner tourist establishments.
RFID can also be used in logistics, warehousing and other internal business processes. You can see it being used in different industries. Fashion brands may use it to track their stocks at stores, while pharmaceuticals can monitor the amount of medicine sent to each clinic and hospitals. Even B2B brands will use it in logistics to know what has been delivered to clients.
Benefits of RFID in business
Efficiency. While most of us think RFID is just another kind of barcode, it is actually a different level of technology. Barcodes are slower because these items have to be individually aligned to a line of light. However, RFID is so sensitive it can read several cards at once. This allows it to process volumes of information at a much faster rate, allowing for overall improvement in productivity and efficiency.
Reliability. RFID does not need human intervention to work, which removes the possibility of human error. As long as the software is powerful enough to handle this amount of data, it can keep on logging in the information and setting pre-programmed processes into motion, without the proverbial line at the cashier.
Cost-Efficient. Since it does not rely on manpower, companies can help streamline processes and remove unnecessary manpower even along complex logistics processes. This is particularly important in large events where traffic is high, or for high-security processes where it's necessary to limit human access.
Real-Time Data. Companies can monitor inventory changes as it happens, instead of having to rely on reports. This data not only allows immediate replenishment or redistribution of stock but can be mined for insights. What goods sell faster in these locations? What stores need more stocks, and what areas have such slow sales that it's necessary to do marketing and promotion? RFID not only tracks the movement of goods but can actually drive your strategy.
These are just some of the benefits of RFID in business, about why it will continue to be part of the new e-commerce and the future of business operations and logistics.Published: Nov 27,2018 07:29:57 AM IST, Updated: Nov 27,2018 07:36:03 AM IST