Radiofrequency Identification (RFID) is an emerging technology in Singapore and worldwide, especially in the manufacturing, retail, education, and healthcare sectors. As a matter of fact, RFID inventory tracking and RFID tools tracking have been quite prominent in numerous businesses across many different industries. This comes as no surprise since using RFID has many advantages.
RFID basically operates on the principle of an RFID tag, which has a memory chip, a reader, and an antenna that aids in reading the tag and the software that transmits the data for further processing. Nearly all industries have already adopted RFID in all their processes today. As more and more businesses feel the need to embrace industrial automation and digitisation, the demand for RFID devices is unsurprisingly increasing too.
Read on to find out the current trends in RFID technology.
1. Higher productivity and lower cost
RFID applications can automate information collection regarding the location and movement of components, assets, stock, and other items. These days, RFID does this even more quickly while minimising costs and increasing accuracy and reliability. Data collection can reduce certain manual activities, thereby eliminating the need for form-filling efforts. Ultimately, product identification is much quicker with RFID than with manual entry of product details or barcode scanning; this is one of the reasons why there are more valuable advantages to using RFID tags than barcodes.
2. Enhanced quality for data capture
Using the RFID approach, data can now be captured rapidly while maintaining great accuracy. Electronic data collection using RFID eliminates the possibility of data transcription errors and prevents “missed items,” especially when collecting data on significant numbers of items simultaneously. RFID improves the quality of data being captured and collected for different purposes.
3. Better security
Regarding security, RFID also brings several improvements, especially as the technology continuously develops and evolve. Specifically, using RFID for access control systems enhances business security within the premises. RFID tagging of assets and stock makes it easier to monitor inventory “shrinkage”, and RFID tags can be utilised to combat product counterfeiting. With this improvement, it is unsurprising that RFID asset tracking systems have become quite in demand in recent years.
4. Shorter processes
RFID technology can be integrated with other supply chains or manufacturing technologies, such as stock picking systems and automated pallet handling. The time that it takes from order to dispatch and delivery is significantly reduced. This then results in shorter processes, enhanced efficiency, and maximised on profits.
5. Increased Revenues
Recent developments in RFID technology enable it to avoid the credibility gap between actual stock in the warehouse and notional stock available for order, to minimise stock-outs, and to offer enhanced information on product movements to customers. With this, organisations that use RFID can deliver services that bring about competitive differentiation and boost customer satisfaction with opportunities for better margins and higher sales.
RFID has existed for decades, but new developments are still being introduced to the technology to improve its abilities further and increase its benefits. With the enhanced capabilities and new applications of RFID solutions in various sectors and industries, this exciting technological revolution is just at its beginning. Experts predict more significant developments and advancements as the future of RFID promises enormous growth, with its adoption as its usage is expanded into numerous industries.