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RFID Overview

RFID IS ALL ABOUT TRACKING INVENTORIES IN MOTION!

RFID Market Overview:

  • The benefits of Electronic Product Code (EPC) and Radio Frequency Identification (RFID) technologies offer companies the opportunity to better manage inventories and lower costs.
  • RFID benefits everyone who is a part of the supply-chain process, from the grower or manufacturer to the final user, and can be used to ascertain the shipment details down to the case used for a given item.
  • The market drivers include: Wal-Mart, Target, Procter & Gamble and Albertsons in the retail sector, Department of Defense (DOD) and Federal Drug Administration (FDA) in the Federal Government.

Importance of RFID:

  • Your remote field workforce needs to quickly and accurately identify specific asset and location information on inventories.
  • This asset and location information must be consistent with unique identifiers stored in one or more existing applications.
  • You have two major options: Barcodes or Radio Frequency Identification (RFID) tags.
  • The problem with barcodes is they don't last in harsh environments.
  • Barcode labels only provide unique ID numbers, which then must be associated with remote identifier databases.
  • With RFID tags, asset information (up to 1360 bits of data) can stored locally on the tag.   

Future Trends:

  • Today, most RFID applications are designed for inventory and asset tracking, but that is beginning to rapidly change.
  • The goal is to eventually have RFID on every item in the supply chain, which will usher in a new wave of object-to-object collaboration.
  • More vendors are commonly partnering to provide solutions, and this will increase dramatically.
  • A recently released report by ABI Research stressed that collaborations are vital to RFID's success.
  • Initial industry efforts such as the RFID patent pool consortium are steps in the right direction in order to rapidly expand the market.
  • There will be increasing pressures to reduce the costs of tags, readers, printers, and middleware software in order to drive larger volumes, and to help better understand how to calculate the return on investment (ROI) for RFID Systems.
  • There will be market consolidation with the smaller companies being acquired by the larger deeper pocket companies.

 

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