Two things are crucial to the sustainability of any business – time and money. By understanding how to manage the two aspects; a business is able to move into an upwards trajectory in profitability and productivity. The advent of RFID can help a business achieve such an outcome.
Technology is continuing to change the way businesses are conducted, and it helps to improve day to day operations. What was trending in the technological space a couple of years or days ago is always being replaced by something even better.
Today, businesses are taking advantage of RFID technology to maintain an edge over their competition. RFID tool tracking technology is one example that has revolutionised the business sector, thus, leading to time-saving operations and cost-efficiency.
How RFID technology led to better time management and cost savings.
Reduce sorting time
RFID technology makes operations inside the business premises a lot easier and straightforward. There isn’t a real need for manually sorting and recording every item that enter the premises.
As such, it reduces the effort and time staff will usually spend on each load or transaction and, over time, the duration the products spend in the warehouse or premises, which results in quicker, much efficient turnover.
This helps to cut down on the need for manual labour in every sector of the facility. A lower need for manual labour cuts down on costs and helps to save money.
RFID access control in a company or office ensures that only the authorised personnel get access to the restricted areas. This can be the main offices where finance records are kept, or even the inventory department, where only the assigned staff can access.
Through the use of RFID tags, all of the staff are able to trace any items ordered by clients faster and more efficiently, by simply using the readers. Initially, the staff had to manually search through the inventory to trace items, which was time-consuming.
Another way RFID helps to boost accuracy is through the inventory management system. Initially, business owners would end up purchasing more items when there is still sufficient stock. Or otherwise, some items, particularly food and beverage-related, would expire inside the facility unnoticed. Through the use of RFID, they are now able to account for inventory, and stock up only when needed.
The accuracy further extends to shipping, which now takes lesser time thanks to RFID. Tracking of products, as they move within the supply chain to the clients, has also been made a lot simpler with RFID asset tracking technology.
RFID helps to reduce human errors that often lead to re-work, thus, consuming a lot of time. In addition, some of these human errors are serious, as they end up costing the company through down time and to losses.
Prevention of theft
Many businesses lose a lot of revenue through the theft of items or products. In the past, products would get smuggled out of the facility unnoticed, and this would lead to massive losses for a business.
Today, RFID has solved this problem by ensuring that every item can be traced in real-time. In fact, data from all the items leaving the facility is recorded, which list when it left, which exit avenue it left through, among many other factors.
Undoubtedly, RFID technology is helpful to businesses across various sectors – whether in retail, aerospace or healthcare. Hence, putting aside finances to get hold of the right tools will go a long way in improving business operations.