How does RFID help in Inventory Management?RFID Asset Tracking | Tool Tracking & Inventory Management
RFID based Inventory Management
Improving efficiency is a constant focus in the ever-changing world of inventory management. Companies of all sizes are routinely assessing their current capabilities and looking for ways to squeeze as much efficiency as possible out of their existing infrastructure while preparing to adopt new technologies that can boost their performance to new heights. It is more important than ever for operations management to conduct thorough research and a proper ROI analysis to fully understand the impact of any change on their entire operation. RFID warehouse solutions are using UHF passive RFID tags predominantly across all industries and sectors due to their low cost and easy adaptability.
One emerging technology that has received a lot of attention with the potential to revolutionize the inventory management industry is the ultra high-frequency radio identification system (RFID). UHF RFID solution for warehouse helps inventory tracking easier and faster. This article will explore the current state of RFID tag usage including pros and cons–some insights on their utility versus the leading solution for asset tracking and inventory management and a look at RFID inventory management system. RFID inventory management system is a need of time in Industry 4.0. It not only helps manufacturing industries but every industry segments retail, healthcare, education, oil & gas, and many other industries.
Definition of RFID Tags in Inventory
RFID for inventory management necessitates the use of a scanner that communicates with RFID tags via radio waves. The tag itself contains a microchip that enables the reader to read data as well as write data to the tag for in-place real-time updating. For protection, each tag is wrapped in a material such as plastic or paper and can be affixed to a variety of surfaces for tracking. The majority of RFID tags used for inventory tracking are passive RFID tags, which means they have no battery and are powered by the reader’s waves. Active tags are powered, more expensive, and used for long-distance tracking of machines such as trucks and railway cars.
Definition of RFID Readers in Inventory
RFID for inventory management requires two types of RFID infrastructure as follows: 1). RFID Fixed Reader 2). RFID Handheld Mobile Reader. RFID fixed reader helps organizations to scan items without manual intervention for an easier item-in and item-out process during material handling. The RFID mobile handheld terminal with Android or iOS smart pairing or with in-build Android OS and internal RFID reader with antenna helps organizations to scan items during item-in or item-out process or for periodical stock counting process or on-demand stock checking.
Top 6 Reasons for Efficient Use of RFID in Inventory Control
Since RFID tags do not require a “line-of-sight” scan like barcodes, they can be read from a distance for quick inventory processing. They can also be read in any orientation and provide you with improved visibility into your inventory, as well as the possibility of more frequent updates and scanning locations.
Reduced Labour Cost
With labour costs accounting for up to 80% of distribution centre costs, RFID has the potential to save money in this area. Inventory check-in, counting, and shipment verification can all be done quickly and automatically with just a few scans, eliminating the need for multiple employees to process them.
Track Returnable Assets
Companies that use returnable assets, such as containers and pallets, frequently have a significant capital investment to safeguard. Using RFID, you can track these assets throughout the supply chain loop and gain greater visibility into inventory. This gives additional benefit of increasing returns and productivity.
No Line of Sight Requirements
RFID systems operate independently and out of line of sight. Its not like a barcode or QR Code to take the materials in hand to scan the barcode or QR code. In other words, RFID helps employees to scan the items in any orientation and output the value of the items to the centralized inventory software.
Less susceptible to damage
RFID tags are less likely to be damaged during the packing, shipping, and receiving process due to their construction, which is often made of plastic or hard shells. These rugged RFID tags can be re-used in many industrial and hard environments , it gives significant cost savings to the organization
RFID tags, because they track everything, can also eliminate stocking issues and improve security in your facility. As RFID helps automated item in and out processes 24/7 in the retail store or warehouse, which helps organization to maintain a balanced inventory hence avoids overstocking or under stocking of the items
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