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Lebanese Bank Tracks Assets at 50+ Branches Via RFID
Banque Libano-Francaise is using a UHF EPC Gen 2 solution from ASAP Systems to manage inventory at all of its branches.
Oct 02, 2012—Banque Libano-Française (BLF) is one of three major Middle Eastern financial institutions that is tracking assets via Passport Asset, an RFID-based solution provided by California-based inventory-, asset- and item-tracking technology firm ASAP Systems. The bank operates 50 branches throughout Lebanon, and is tracking 50,000 items, including furniture, IT equipment, phones, bank equipment and cars. Thanks to Passport Asset, BLF reports, the company is reducing labor costs and gaining greater visibility by ensuring that a physical inventory count can be quickly performed at any and all branches, without disturbing staff members or customers.
Due to the company's sheer size, as well as the geographic area in which its branches are located, BLF has found tracking its asset inventory to be challenging. To conduct such an inventory count, employees at each branch have had to locate every item's printed serial number, manually check off that item on a printed list, and then send the results to a central office. But the process was time-consuming and prone to errors, the company notes. In addition, there was also the risk of workers injuring themselves as they moved heavy furniture or electronics in order to read serial numbers.
The bank sought a method for its staff to conduct inventory counts more easily, and for the company to be able to view a report in real time in the event of a discrepancy, such as an item found to be missing.
The biggest challenge BLF faced in identifying a suitable solution, Rizk says, was finding a system that would "perform a fast and precise physical inventory." The solution needed to allow the asset-management team to perform an inventory within a single day, he notes, without disturbing the bank's staff or customers.
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