What is RFID?
RFID is a very valuable business and technology tool. It holds the promise of replacing existing identification technologies like the bar code. RFID offers strategic advantages for businesses because it can track inventory in the supply chain more efficiently, provide real-time in-transit visibility, and monitor general enterprise assets. The more RFID is in the news, the more creative people are about its potential applications.
The Benefits of RFID:
Capturing inventory as it arrives from the supplier is the first step in a company wide tracking system that "knows" where every item is throughout its lifetime in the store. This tracking offers retailers tremendous insight into their inventory, which enables those retailers to control costs and reduce investment on inventory, which means lower prices and better competition for consumers.
An RFID system that uses Electronic Product Code (EPC) allows for:
Reduced Human Intervention
Higher throughput supply chains
Real-time information flow
Increased item security