Keep track of assets with RFID tags and readers that automatically monitor names, locations and other details. Unlike spreadsheets, this tracking technology deters theft, improves safety and provides an audit trail for accounting purposes.
When equipment, tools or other items with RFID tags come into range of an antenna in a warehouse, they send their signal to the reader. It’s then logged into the tracking database.
Real-time Access to Data
In any high-value industry that relies on the availability of critical assets to generate revenue, it can be incredibly costly when those assets are lost, misplaced or stolen. It is an issue experienced across a wide variety of industries and asset types, with American Auto companies replacing lost reusable packaging for $750 million each year, construction firms spending $1 billion on equipment replacement due to loss or theft, and hotel chains losing an average of 24 items per room. Find RFID asset tracking here now!
The good news is that technology can help. RFID (Radio-frequency identification) is the ideal solution for businesses looking to improve their inventory management and track the location of high-value assets. The benefits that come with this tracking technology include:
Increased Visibility and Traceability
In an industry like event rental, it’s common for equipment to move back and forth between locations multiple times before an event is set to take place. As gear changes hands, it can be easy for crew members to lose track of what is where and when leading to inefficiency and costly delays in operations. With the help of an RFID tracking system, this problem can be eliminated. Once the equipment is tagged, it can be instantly identified and matched with the person using it. It ensures that only authorised personnel have access to specific IT equipment and reduces waste by reducing the time spent doing inventory.
When equipment is tagged and tracked, it’s updated in real time and can be viewed from anywhere, even without a wireless connection. It means managers can get updates on a project’s status without waiting for crew members to complete their physical inventory. It reduces workers’ time on merchandise, cutting costs and improving productivity.
Moreover, the automated nature of RFID tracking allows for accurate and error-free data collection. This information is then sent to a cloud-based platform, which can be monitored, analysed, analysed and reported at any time. It means that managers can quickly identify issues and make the necessary changes to reduce costs, improve efficiency, and maximise the return on investment for their business. Find RFID asset tracking here now!
Reduced Costs
RFID asset tracking can help lower overhead costs by automating this process for business owners who rely on a system that requires scanning. In addition, allowing workers to focus on other tasks can reduce the risk of human error and improve accuracy. Finally, because RFID technology can track the location of assets and provide a paper trail when something goes missing, it can help businesses reduce supply chain disruptions.
An everyday use case for finding RFID asset tracking is equipment rental companies, which often deal with a large amount of bulk equipment that must be tracked as it moves between locations. It is especially true for event, rental, and media companies, which need to track everything from cameras and microphones to backdrops, lighting, sound systems, and more. Manually scanning these items can be time-consuming, leading to inefficiencies and delays inside the warehouse. But with the help of finding RFID, these workflows can be optimised, reducing waste and saving money.
By integrating fixed RFID readers in strategic areas, you can automatically detect when equipment is on-site and in which direction it’s moving. It allows you to fully automate your stock management processes and eliminate the need for manual input or updates. It can also reduce the risk of human errors and improve productivity, giving you a competitive edge in the marketplace.
In addition, fixed RFID tags can have a much longer read range than barcodes, enabling you to locate items even if they’re hidden or obscured. It is especially beneficial for businesses in the healthcare industry, where you might need to scan equipment from a distance to avoid disturbing patients or staff members, as well as those working with high-value collections, such as paintings or wine.