One of the leading challenges that businesses face is to keep track of their inventory; a problem that is best solved with RFID asset tracking. Acquisition of assets can be expensive, the reason why you should always keep tabs on your personnel, vehicles, inventory, and machinery. Every asset matters, and in the absence of a reliable system that can track them, you are likely to deal with the chaos resulting from mix-ups.
While you can try to track your inventory manually, it is effort-intensive, prone to errors, and time-consuming. Automating these processes is the surest way to ensure that such challenges are not encountered.
What Is An RFID System?
Radiofrequency identification entails the identification of items using electromagnetic fields. Each asset should have an RFID system attached to it with specific data and a unique identifier. To capture this information, an RFID specialist usually provides a specific device that is stored in a tracking system that the business uses.
There are usually three main components of a typical RFID system- a transceiver, an antenna, and the asset tag. The asset tags have an antenna and circuit that relays the stored data to the reader before being converted into a format that can be read prior to transmitting the same to the system’s database. There are different types of RFID solutions that can be customised to fit specific business needs.
What Are The Major Benefits Of RFID Solutions?
RFID systems serve one major purpose; streamline tracking of your inventory and assets. The business can benefit immensely when the system is properly utilised such as proper utilisation of assets, prevents errors, encourages accountability, availability of real-time data, and boosts productivity.
1. Effective Utilisation Of Assets
The success of your business is partially pegged on how effectively you utilise existing assets. They should work for the business and when they are not put into good use, they do not serve their purpose. The resources of most small businesses are limited.
Effective management of a company’s assets is paramount. The information that is stored through the RFID technology can be utilised to carry out a broad spectrum of tasks like reviewing the availability of assets, track maintenance cycles, and scrutinise various expenses related to their acquisition, maintenance, and even disposal.
When you understand when to service your machinery, for example, you can avoid the costly consequences that might arise if you were to replace some parts due to negligence. You will also understand which assets no longer serve their intended purpose and therefore have to be disposed of.
A reputable RFID company will ensure that the system allows you the efficiency that these systems are supposed to serve. This way, you stand a higher chance of boosting your returns on investment, avoid inconveniences that may arise due to downtimes and safety issues.
2. Prevents Avoidable Errors
Managing and tracking assets manually suffer one major drawback; it is prone to errors that can cost your business heavily. This is a problem that the RFID solution fixes because they do not require the intervention of humans to work effectively. All processes are automated, which also helps in improving the workflow. No room for errors. For every item that moves from one stage of the value chain to the next, you can easily keep track of it.
In case more than one person carries out a specific task at the same time, the RFID asset tracking system will minimise possibilities of errors, duplications, and errors. It is not possible in most cases to manually track tasks performed by specific people in a similar environment.
Every employee can feed the required data into the system, ensuring that there is no duplication. Duplicates are easily flagged by the system and an alert can be generated.
3. Get Real-Time Data About Your Assets
Data drives businesses in the world. Every piece of data you come across is money that can transform your business. Storing and analysing data is paramount for sound decision-making.
Businesses that do not rely on solid data to make decisions are likely to make bad decisions. Since the data provided in real-time, it gives you the chance to intervene in good time and avoid possible dangers that may occur. Understanding where a specific item is at any moment only requires a quick glance at the system’s dashboard.
For warehouses, for example, whenever a product is delivered or removed, the system will update its records automatically. Your team is able then to utilise this information in making the right decision such as improving the accuracy of the inventory that is paramount in managing your operational costs.
4. Encourages Accountability In An Organisation
In a business setting, accountability is key. People must learn to be transparent and take responsibility for everything they do. An RFID specialist will deliver a system that will not only track the inventory but also point at the person responsible for every action.
Assuming one of your assets is misplaced or spoilt, the system can easily enable you to trace the last person who was in contact with it using stored data. With the knowledge that every action in the business is being monitored, your team will be more cautious. The culture of accountability will help you avoid wastage and manage costs effectively.
5. Better Time Management And Increased Productivity
The RFID system will automate most processes in your organisation. This will save your team from carrying out some tasks that can be labour-intensive like tallying/counting your inventory after every transaction or trying to find items when they are misplaced. You can then channel this time to other important tasks that can help grow your business.
What Makes A Good RFID System?
While there are numerous types of RFID solutions, there are some attributes that define the best. Some of the features of the right solution include:
- Should be easy to integrate into the existing infrastructure of the business.
- Must be flexible, allowing for expansion or changes as the business grows or changes.
- Should be adaptive to various business needs.
- Must be accurate, allowing for tracking of assets and convey requisite data in real-time with utmost accuracy.
- Security is key. The system should be secure enough to avoid being penetrated or manipulated by unauthorised persons within or outside the company.
- Should guarantee the business value for money. The cheapest solution might not be the best but also an expensive one does not guarantee effectiveness. Go for a solution customised for the business.
When searching for the right RFID solution, it is important that you identify and work with a reputable RFID company.
There might be many providers of similar technology, but a reputable company will ensure that you get the most ideal solution that will meet your needs.
Take your time to read through user reviews, contact them to find out if they have experience in your line of business, and ask to check out some of their previous projects of similar scope. This is a decision that must never be rushed because technology is dynamic.
Trust an established company that is willing to stick around, offering support as your business needs to change with the time. You must then endeavour to train each member of your team on how to use the system effectively to realise the organisation’s goals.