Benefits of RFID Technology For Your Reusable Assets
RFID technology enhances how companies track their reusable assets. More businesses rely on the use of RFID for real-time data collection on where their reusable assets are going, how fast they are moving, or if they aren’t moving at all.
Let’s look at the advantages of RFID technology and how RFID solutions can boost the visibility and traceability of your reusable assets as they move through the supply chain.
How RFID Systems Work
RFID stands for radio frequency identification. RFID tags are placed on products or assets and are detected by RFID readers when they come within a certain range. RFID readers can be handheld or fixed at a certain point in a facility. Since RFID technology uses radio waves, it does not require line of sight to operate, like barcode technology.
How Does RFID Benefit Your Company?
Better Inventory Management
With more assets in the supply chain than ever before, inventory control is paramount when dealing with your reusable assets, whether they’re totes, pallets, or anything else that must return to their point of origin. RFID technology helps with tracking assets within one facility or across multiple.
Through Facilities
You can better manage workflow and assign personnel as needed by tracking the flow of assets through your facility.
Across Facilities
Easily identify bottlenecks in your facility network and start taking the steps to improve overall efficiency.
Implementing RFID technology gives your business the power of inventory tracking and enables continuous audits of your assets within the supply chain through RFID data.
Eliminate “Ghost” Assets
What are “ghost” assets? These are assets that are recorded as part of your inventory but are either unusable or otherwise unaccounted for. They could be somewhere within your facility or elsewhere in the supply chain.
RFID tracking allows you to have a precise and up-to-date inventory of your organization’s reusable assets, giving you a full understanding of their location and usability. This prevents the possibility of ordering assets that your company already owns.
Reduce Human Error
When you deal with human workers, there will always be some degree of human error. When individuals are responsible for entering data into a spreadsheet or recording inventory information in a paper logbook, there is always the possibility that information can be entered incorrectly. This could be due to a simple mistake, laziness, or fatigue.
However, with RFID applications, readers can automatically read RFID tags with no human worker present. Not only does automation increase inventory accuracy, but it also frees up your workers to be able to engage in more human-oriented tasks.
Scalability
You may have a business with tens of thousands of reusable assets in the supply chain – or you may be a small business owner with only a handful of reusable assets. By having an inventory tracking system in place early on, you have the ability to increase its scale as your business grows. You can save money and time in those early stages when it’s critical.
RFID Saves Time and Money
RFID technology is a cost-effective management system for your reusable assets for several reasons. By keeping better control of your reusable assets, you can know where they are, and if they are collecting in a certain location. You can then take the steps to make sure that these missing assets return to their point of origin, eliminating the need for expensive replacement.
RFID tracking also eliminates the time-consuming search for missing assets within a given facility. Employees can shift their time from searching for assets to performing their assigned jobs, directly impacting the productivity of your plant or facility.
RFID Can Impact Your Business
RFID tracking solutions from Real Time Intelligence take your company’s tracking and inventory management to a new level with a suite of tools for keeping tabs on all of your reusable assets. In-facility and cross-facility asset tracking will streamline your processes and give you supply chain insight like never before. Contact Real Time Intelligence today!
