5 Reasons to Implement RFID Tracking in Your Business

If you run a business, you probably have some assets that need to be monitored. Whether it’s warehouses full of inventory, fleets of company vehicles, or equipment on the production floor, radio frequency identification (RFID) tracking can help you keep track of it. If you’re not using RFID tracking tags, you’re leaving money on the table, in the form of mistakes, lost time, and staff bloat.

RFID tracking devices have become more and more affordable over the years. Inert RFID tags can store a lot of information, and they’re cheap and unobtrusive. Active tags offer more features and read/write data storage capabilities. Here are some of the reasons you should implement RFID asset tracking.

1) Keep a More Accurate Inventory

When human beings are put in charge of inventorying items, they tend to make mistakes, especially when they’re logging a lot of stuff. Missed items, duplicate entries, transcription errors — all of it can happen when a human being is doing the work. RFID asset tracking makes it easier to inventory large shipments, because the tags can hold all the information you need about the shipment, and you can automatically upload all the data to your cloud-based system. Your inventory will be more accurate, and you’ll be better able to calculate exactly how much of which products to buy, and therefore sell more products.

2) Reduce Internal Shrinkage

RFID lets you see what you have at a glance. When it’s easy to check up on how many of each item you have and where they are, you’ll perform inventory audits and stock checks more often. You might even order regular checks on popular items, to make sure you can keep them in stock. When employees see that you’re checking up on the inventory, they’ll be less inclined to try for a five-finger discount.

3) Get Real-Time Data

When you need something from your inventory, you need it right away. Implement RFID asset tracking and you’ll never need to wander around the warehouse or stockroom looking for something again — you’ll be able to see exactly where the needed items are. 

When someone mislays a piece of equipment, you can use RFID asset tracking to figure out where they put it. You can get temperature-sensitive tags that tell you what conditions perishable items are going through in shipment. You can even find company vehicles in real time, as well as tracking maintenance cycles and other important data.

4) Improve Efficiency

RFID asset tracking systems allow you to automate many processes that would have previously taken human staff members hours to do. RFID readers can gather information from tags in a flash, and the information will automatically populate your cloud-based asset tracking software. That will save you a lot of time.

That’s not the only way you can save time and streamline processes. Use RFID tracking tags to gather information about equipment throughout its lifecycle, and calculate the optimum time to make replacements so as not to interrupt production with a breakdown. Keep vehicles and equipment safe by using RFID tags to manage information regarding maintenance cycles, inspection regimes, and regulatory requirements. 

5) Cut Costs and Boost Revenues

RFID tags let you do more with fewer employees, so that’s one way they can help you keep down overhead. The more time your employees save on mundane tasks, the more they can devote to more complex tasks that maybe don’t feel as soul-crushing. Employees will be more productive, knowing they have the right tools to get the job done efficiently, and knowing that management is using the appropriate solutions to keep the vehicles and equipment they use safe and efficient.

You’ll save money on reduced internal shrinkage, and you’ll boost revenues because you’ll be better able to adjust your inventory to cater to what your customers want. Collect inventory and sales data and use it to figure out what products need to be ordered more often or in higher quantities, so you can reduce out-of-stock losses. Find products in the stockroom or warehouse faster and more accurately. 

If you haven’t started using RFID asset tracking to monitor your assets, what are you still waiting for? The tracking technology is affordable and easy to use, and your employees will appreciate the time they’ll be able to save once they get the hang of the new system. Now that the technology is affordable and widespread, there’s really no excuse not to find out what RFID asset tracking can do for your business.

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