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Asset Valuation With RFID

A return on an investment in the technology can be achieved from improved quality and accuracy, the ability to perform frequent inventory counts and other benefits.
By Carlos Ribeiro

With little training, multiple inventory points can work together at the same company. The immediate result is a reduction in costs required to send employees to every location to register assets, confirm their status and take photographs.

Imagine the cost of inventorying the assets of a chain store or bank, from California to Florida, with dozens of employees pasting labels and confirming that every item is present. With RFID, inventory time drops dramatically.

In addition, an RFID technology partner must ensure that tags are correctly sent to each location, with or without a previous imported record of the assets in the software tool, and make equipment available only at the time of reading at each site. The entire software infrastructure, as well as tags and readers, can be shared.

The cost of the asset-consolidation process can fall by up to 70 percent, and accuracy can reach values higher than the current ones. This is because RFID allows companies to perform inventory counts daily, weekly, monthly or however they wish.

In addition, a security staff member or other employee, armed with a cell phone and a small, low-cost reader, can audit an area containing more than 200 items within as little as 15 minutes. A worker could simply read the floor tags and then begin scanning items without having to perform manual tasks.

USER COMMENTS

Michael Smith 2016-12-20 11:05:59 AM
Good article Mr. Ribeiro, I understand the value once the RFID tracking system is in place, but is there still not a need for a professional baseline inventory and deployment of the tags and RFID technology at the beginning.

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