How to Estimate the Cost of a Closed-Loop RFID Project
Here are five steps to help you plan how to fund the deployment and determine the potential ROI.
By Bob Violino
Dec. 10, 2007—Before an organization can undertake a major RFID implementation, it must first estimate project costs. This helps a company not only plan how the deployment will be funded but also measure the potential return on investment it can achieve using RFID technology.
Here's a step-by-step guide to what companies must do to predict the costs of implementing and maintaining an RFID system. The implementation in this example is a closed-loop asset-tracking system, employed within a single facility such as a warehouse.
1. Determine the scope of the project. Figuring out the types of assets to be tracked, and drawing a boundary of where RFID will be used within the facility, is something organizations should do upfront, says Roy Wildeman, senior analyst at Forrester Research in Cambridge, Mass.
Dec. 10, 2007—Before an organization can undertake a major RFID implementation, it must first estimate project costs. This helps a company not only plan how the deployment will be funded but also measure the potential return on investment it can achieve using RFID technology.
Here's a step-by-step guide to what companies must do to predict the costs of implementing and maintaining an RFID system. The implementation in this example is a closed-loop asset-tracking system, employed within a single facility such as a warehouse.
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1. Determine the scope of the project. Figuring out the types of assets to be tracked, and drawing a boundary of where RFID will be used within the facility, is something organizations should do upfront, says Roy Wildeman, senior analyst at Forrester Research in Cambridge, Mass.
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