Using technology in businesses is how you stay ahead of competition be it retail, supply chain and logistics, healthcare, education, IT industry, or manufacturing and production industry. Various internet of things (IoT), sensors, smart devices, mobile applications and software systems are available today that offer enhanced data collection and processing applications and radio frequency identification (RFID) is one such technology.
Use of RFID is well known in various industries such as retail and supply chain to identify apparel and shoes, supply packages, pallets, etc. RFID tags can be attached to objects and encoded with relevant product information with the help of electronic product code (EPC).
RFID is oftentimes used with dedicated software systems which can also be integrated with ERP and CRM to provide better reports and insights.
RFID-based asset tracking and management system is one such solution that is used in retail and e-commerce inventories to provide real-time inventory information.
Understanding about RFID Asset Tracking and Management System
RFID asset tracking is a way of automating the identification and management of assets. It is processed by encoding an RFID tag with data and attaching the tag with the asset. It can include anything from name to condition to amount to location.
An RFID tag repeatedly emits radio pulses, and an RFID reader can capture the stored information of the RFID tag. An RFID asset tracking system gives an automated ability to track and monitor, aiming to provide a highly accurate process of asset tracking. Additional advantages of RFID asset tracking and management:
1. It can track multiple assets at one time.
2. Asset tracking system minimizes human intervention.
3. It can collect data in real-time.
4. Enhanced visibility of assets.
5. Efficiently locate lost or misplaced objects.
How does RFID asset tracking and management work?
RFID-based asset tracking systems provide an automatic and optimized solution for tracking assets. Whether it is used in agriculture to track livestock or in a warehouse to monitor a manufacturer’s supply chain, RFID asset tracking technology uses RFID tags and readers to monitor and manage assets efficiently. Asset tracking and management systems (database systems) are used to store and analyze the received information from the RFID reader to optimize their tracking solutions.
Here is how the RFID asset tracking and management system works:
1. RFID tag: RFID tags store data on their microchip with a unique identifier (an electronic product code) affixed to an asset.
2. RFID reader: The RFID reader is responsible for retrieving encoded data from tags; it uses radio waves to establish a connection with tags. A reader antenna identifies the nearby RFID tag by emitting radio waves at regular intervals of time.
3. Asset Tracking and Management System: An RFID reader transfers retrieved data to an asset tracking and management system. Where it stores the data, evaluates it, and optimizes it to provide better solutions for asset tracking. The asset tracking and management system can be integrated with existing in-house software to provide better insights and results.
Benefits of RFID Asset Tracking and Management Systems
RFID asset tracking and management systems are primarily focused on providing efficient solutions to manage their assets. No matter what size, type, or category it falls under, all objectives are relatively similar to the management of assets.
RFID asset tracking and management system offers following benefits:
1. Enhanced Accuracy: RFID-based asset tracking provides high accuracy in asset tracking because it reduces the chances of human errors that occur with manual methods (data entry, retrieving data).
2. Enhanced Security: RFID systems provide real-time insights into asset location and movements. It enables organizations to make immediate decisions, respond to changes, and optimize their asset utilization.
3. Reduce costs and labor time management: RFID benefits the tracking of assets, whether in transit or not and allows for the automatic movement of goods.
RFID automates data collection and eliminates the need for manual asset tracking, reducing labor costs and freeing up staff for strategic tasks.
4. Improved Asset Utilization: RFID in asset tracking helps in real-time tracking and data analytics of assets, enabling organizations to identify underutilized assets, leading to improved allocation of assets and cost savings. Some UHF RFID tags are used on laptops and hard disks to track their utilization and movement in IT companies.
5. Streamline Auditing: RFID in asset tracking provides faster and more accurate asset auditing with RFID. It will reduce audit-related expenses and ensure the robust quality of the management system.
6. Cost-effectiveness: Implementing RFID in asset tracking and management systems will reduce the overall cost by minimizing errors or manual intervention, improving the sustainability of assets, and reducing labor costs.
To conclude, RFID in asset tracking and management systems has transformed solutions for asset tracking and management. It focused on providing efficiency and accuracy to various sectors like manufacturing, rental services, health, military, information technology, corporate, property, and facilities. Asset tracking and management provide the safety of assets, reduce costs, and enhance the operational efficiency of various businesses. It creates a smarter and more informed way of managing assets.
Like asset tracking and management systems, RFID can be used in other software solutions such as RFID-based parking management system, RFID-based library management systems, RFID warehouse management system, RFID vehicle tracking system, RFID based inventory management system, and RFID File Tracking Document Management System, etc.
Frequently Asked Questions
Q1) What is an RFID asset tracking system?
RFID in an asset tracking system is a way of automating the management and locating processes of physical assets. It works by encoding an RFID tag with data and attaching it to an asset and termed as the future of indoor asset tracking.
Q2) What is the disadvantage of RFID?
RFID communication can face some interference from some materials, like metals and liquids, which can particularly impact the communication of the RFID system. But Mount on-metal RFID tags can be used to solve this particular interference problem.
Q3) What is the difference between NFC and RFID asset tracking?
RFID is more effective for long-range, one-way communication; it is a powerful tool for asset tracking and inventory management. On the other hand, NFC excels in secure, short-range communication and two-way communication, making it perfect for secure access control and device pairing.
- Last updated on Nov 10, 2023