5 Reasons Why Small Businesses Benefit From Utilising RFID

Often, the perception about RFID is normally associated with large companies, organisations and businesses only. However, small businesses themselves are able to utilise and benefit from RFID.

Especially since tracking inventory is the biggest challenge faced by most businesses, RFID performing as an asset tracking system will help towards improving the monitor of goods and lower the possibility or even eliminating challenges like theft and potential profit losses. Hence, this is why any business will find RFID technology beneficial to the business.

Here are a few reasons why RFID technology will be of use to small businesses.

Enhanced productivity

The automation of most processes as a direct result of using RFID is a prerequisite for improved productivity.

It saves time and money from daily manual routines, which would have needed a lot more effort and human resources. In other words, the staff do not have to perform the labour-intensive tasks that often consume a big portion of their time. Instead, they can focus on other critical functions pertaining to the business.

Improved accountability

The use of any asset and item within the company is known easily as a direct result of using RFID tags. Also, in case of any misplacement or damage to an asset, the RFID system helps to track and log all activities, with the time.

This helps to control costs, and prevent any unexpected losses. At the same time, employees will be more accountable after knowing that their movements are monitored.

Helps provide real-time data

In this current era, data and information is a valuable asset of the organisation. Therefore, the industry is data-driven, and RFID helps to provide real-time data. It only takes a reader and a tag to know where items are in real-time.

Also, once a product goes out of the store for shipping, the RFID system will always update such movement and even record it down clearly in the system so staff will always receive accurate up-to-date information.

With a clearer overview of the inventory count, employees will be able to cut down on costs without unnecessary purchases to re-stock or avoid possible lost of sales.

Prevention of errors

Manual asset tracking, is heavily reliant on human resources. When processes are done manually, businesses have to factor in incidents of possible human error.

RFID helps to prevent any possible errors that may arise due to human control of the asset tracking process. For example, the RFID smart trolley that’s been implemented in various industries like the airline or engineering industries – has helped in maximising technicians’ efficiency and productivity which saves time, labour and money.

Through automation, results obtained are more accurate and timely, and it reduces the possibility of confusion and errors. There is no longer any need for strategically placing employees at every stage for tracking purposes. This, therefore, saves time and money.

Optimum utilisation of assets

Most businesses encounter a challenge in tracking assets – this is especially true for small businesses working under limited budgets and resources.

But with RFID technology incorporated in the business, data captured and stored can be used to manage all sorts of tasks like monitoring maintenance cycles, analysing varying costs related to acquiring, maintaining and removing of inventory, and reviewing asset availability.

With RFID tags, it’s also possible to find out which specific inventory is reaching the end of their lifespan and requires maintenance or replacement.

Large corporations aren’t the only ones who will gain from the incorporation of RFID technology – small businesses can also use it to their advantage when it comes to enhancing day-to-day operations.