RFID Tags For Inventory Management

With the dawn of the new year, technology has been shown to have an unwavering influence on how businesses go about their operations. A common term we should all be accustomed to moving forward is that of RFID. Radio Frequency Identification (RFID) is a piece of technology that allows for wireless communication through the transmission of radio waves amongst its three components: the scanning antenna, the transceiver, and the transponder.

An endless list of business owners has opted to use RFID for inventory management, where an RFID system for inventory control introduced by various providers is currently being hotly sought after. Due to its versatility, RFID can be implemented in any business’s inventory management system and small and mid-enterprises (SMEs) are no different. These relatively small businesses might find it daunting to implement an RFID system for inventory control, but they may find themselves at a great advantage with the help of this amazing piece of technology. Here, we discuss some reasons why an RFID system for inventory control would greatly benefit SMEs.

1.   Use of RFID Tags

The use of RFID tags for inventory management is common practise nowadays and SMEs will find themselves carrying out inventory control with ease using such tags. With a built-in circuit to these tags, they allow for a quick and precise transfer of information when a reader is passed over them. SMEs not only have information about their stock transferred and stored in computers through this, but it also inadvertently brings about a reduction in cost. The built-in circuit of these tags means that they do not require their own power source, which leads to a reduced expenditure on electricity.

2.   Availability of Data

Another amazing aspect of using RFID for inventory management is that it offers SMEs improved accuracy because business managers can track their products in real-time. This real-time data, as provided by this RFID system, allows one to pinpoint the location of a product in their facility. Managers can keep tabs on the ins and outs of their products, which would allow for more accurate records of their inventory, which is key to any business. Through this, any form of error can be diminished where accurate data to avoid discrepancies such as duplication and or lost items is entirely provided. Collection of data is a big part of any business’s inventory management and SMEs will not have to worry about this aspect when an RFID system for inventory control is in place.

3.   Cost-effective

As briefly mentioned earlier when discussing RFID tags for inventory management, an RFID system for inventory control is widely known for being a cost-effective business for many businesses. SMEs that have restricted budgets do not find themselves stretching this budget as RFID provides for increased savings. This system does away with archaic spreadsheet filing, which eats up costs of labour as well as time. By remotely tracking the movement of goods through this RFID system, it ensures reduced expenditure on labour for the business. With less spent on labour, SMEs can focus their budgeting on other aspects of their business structure.

4.   Increase Employee Productivity

As this excellent technology reduces the need for labour-intensive tasks, employees are given more time to deal with other pressing matters that require more attention. With inventory control being dealt with by this reliable system, employee productivity can increase as efficiency is assured. Employees can handle more significant tasks while their inventory management is in the safe hands of the RFID system.

Thus, it is proven that RFID has the potential to assist SMEs with inventory control beyond what they are currently capable of. SMEs must embrace this advanced technology to withstand the competitive nature of the market today. RFID, with its unmatched versatility, would be a great asset to their operations and inventory control is just the beginning.

If you are interested in implementing an RFID system to improve your inventory management operations, please contact us to set up your own RFID inventory management system!