Managing Corporate Assets with RFID - Part One

Radio Frequency ID (RFID) may have failed, as yet, to reach its full potential in the retail environment, but that is no reason to write off the technology. With growing pressure in both the private and public sector for improved asset management and accountability, RFID has an important role to play.

Making Waves
RFID has been making waves for over a decade as organizations throughout the supply chain look to leverage unprecedented ease and accuracy of goods tracking to drive down costs and improve product availability.  But, as yet, the technology has not achieved optimal results. This is particularly relevant within the retail environment where RFID tag costs make it impractical to take the technology beyond pallet level, undermining the vision of individual product tracking from the manufacturer to the store shelf.

However, the technology has gained significant traction in other areas here in the U.S. and abroad; most notably, new passports now include RFID tags and other transportation payment systems are utilizing the tags as well.

The technology has also been embraced by libraries, museums and higher ed institutions to track valuable assets. The result of this diversification of RFID application is a significant reduction in unit cost over the last few years.

With an increased focus on organizations across both public and private sectors to improve asset accountability and traceability, isn’t it time more organizations considered the benefits of RFID?

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