RFID Systems for Asset Management – The Young Technology on Its Winning Path

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RFID Systems for Asset Management??The Young
Technology on Its Winning Path
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Intro

• In the competitive business era, success is
  mainly about maintaining the focus between
  increasing efficiency and decreasing the
  operational cost. Advancements of technology
  world do attract industries to fetch the maximum
  out of tech tools to accomplish their business
  objectives. Diversified RFID systems are one the
  young technological developments that are
  expected to automate many laborious processes in
  industries like retail, supply chain and
  logistic, manufacturing, aviation, hospitality,
  healthcare.
• RFID Radio frequency identification is a simple
  form of wireless communication. It has got
  ability to detect objects through radio signals.
  Based on requirement and usage, its different
  frequencies are utilized to create RFID systems
  with different standards.

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• Out its many active usages, the most popular
  usage is related to asset visibility. Once the
  little, battery free and barcode look like RFID
  tag is fixed with the asset, it is easy to track
  that asset with integrated readers or systems. It
  is possible to use relevant RFID solution as an
  independent asset management system. The best
  part is potential RFID systems can easily get
  integrated with enterprise solutions or other
  software solutions and enable the end to end
  automation of asset management along with
  relevant compliance processes.
• Customized or industry specific RFID system
  solutions have positively influenced many
  critical business areas.

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• Top 6 Advantages of Asset Tracking System using
  RFID

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Effective inventory management

• Inventory issues are one of the most critical
  affairs for many industries such as retail,
  manufacturing and healthcare as sometimes they
  unnecessarily block the flow of investment. Poor
  inventory management may lead to loses as
  well. Asset Management System using RFID not only
  increases the accuracy level at inventory but
  also supports the strategy of driving profitable
  business through efficient inventory management.
  Easy tracking of asset type, quantity and
  location along with its predefined movement
  priorities provides a clear and bigger picture
  visibility to decision makers.

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Smooth supply chain management 

•  Supply chain plays a vital role in on time
  delivery of goods leading to greater customer
  satisfaction and long term business
  relationships. Business houses keep maximum
  efforts to make it cost effective and error free.
  Asset Tracking System using RFID can manifest the
  possibilities of having smooth and reliable
  supply chain. Shipping items glued with RFID tags
  allow the head custodian to recognize that how
  transportation is transpiring. RFID systems
  specific to logistic industry can deliver even
  more effectual results in systemic approach of
  handling routine or event base freightage
  operations.

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Escalated security of assets

• Security of goods or assets is of course very
  significant for any business. Whether the assets
  are sitting in inventory or they are involved in
  any other process, their security does matter to
  industries. Especially for high priced assets, it
  is feasible to integrate RFID systems with
  security alarm system through customized
  application of technology. Precise solutions
  offer even advance features and they can obstruct
  any unapproved movements or activities if done
  while handling assets.

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Automated record and compliance management

• Industries such as healthcare and aviation have
  to maintain huge level of record keeping for the
  assets as a part of regulatory compliance
  procedures. Advanced RFID solutions consolidated
  with enterprise solution or other relevant
  software solution automate this tedious, time
  consuming still extremely crucial practice.

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Reduction in operating cost

• As projected, it has been noticed that strategic
  usage of RFID systems reduces total operating
  cost up to possible level. It enables maximum
  utilization of asset life cycle, especially in
  industries like aviation which ultimately gets
  resulted in optimum cost saving.

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Incredible quickness in work flow

• It is possible to set up automated tracking of
  multiple assets concurrently. It is also feasible
  to set up the digital signal to observe them as
  per predefined parameters. It saves huge amount
  of human time and efforts and make the work toil
  free. As a result, business houses can easily
  optimize their routine work practices.

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• So far, logistic and aviation industries have
  tried to explore the maximum advantages of RFID
  solutions and have achieved remarkably positive
  results as well. Retail chains have also
  initiated experiments with such technological
  advancements.
• Technically, there are various methodologies for
  development, customization and implementation of
  RFID system solutions. RFID specific iPad
  Application Development is also a popular
  technique in which the iPad application gets
  incorporated with the RFID reader and enterprise
  solution to attain desired goals. As mentioned,
  this technology is still passing through the
  young phase and there is a long way to go.

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• Original Source
• https//medium.com/_at_AzilenTech/rfid-systems-for-as
  set-management-the-young-technology-on-its-winning
  -path-7cfaa23eb0b5

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