|Home||Internet of Things||Aerospace||Apparel||Energy||Defense||Health Care||Logistics||Manufacturing||Retail|
Ask The Experts Forum
Which Companies Have Achieved a Return on Investment From RFID?
Can you please provide actual figures regarding the ROI attained by any companies using the technology—particularly in the construction industry?
It is difficult to provide specific information about return on investment (ROI), because every application delivers a different ROI, and each company's situation is different. It takes a worker one-tenth of the time required to take inventory of materials tagged with passive RFID transponders, for instance, compared with how long it takes using bar codes. If you don't take inventory, then there are no savings, and if you are operating in a country in which labor is very cheap, the savings will be much less than if you operate in a nation where labor is expensive.
If you are considering using RFID, I would suggest you start by asking yourself what business problems you hope to solve, as well as the business benefits you expect to gain. In construction, companies typically have had problems involving the theft of materials on job sites, and they have also had problems locating tools. Sometimes, tools are stolen, and sometimes their utilization rates are lower than they should be because the tools can not be located.
In addition, companies have problems locating specific materials in large yards, and spend too much labor trying to find them. If your firm has any or all of these issues, it might make sense for you to consider radio frequency identification. But your ROI will differ from that attained by another company, depending on your labor costs, operating procedures, any fines that might be levied for construction delays, and so forth.
We ran a virtual event a year ago called RFID in Construction. The recorded presentations are available in our video library. And here are some articles that can show you how construction firms are using the technology in their operations:
• Italian Construction Firm Deploys RFID to Track Offshore Equipment
• RFID Helps Control and Organize Construction Sites
• Tunnel Construction Companies Use RFID Badges to Text Workers
• Inspections Made More Efficient for British Construction Firm
• German Research Institute Tests RFID in Construction
• RFID Improves Safety, Efficiency of Brisbane Tunnel Construction
• Byrne Group Automates Asset Management, Orders
• RFID Paves the Way for Road Construction
• RFID Cements Its Place in the Construction Industry
• RFID Is the Alaskan Gas Pipeline's Strongest Link
—Mark Roberti, Editor, RFID Journal
Login and post your comment!
Not a member?
Signup for an account now to access all of the features of RFIDJournal.com!
SEND IT YOUR WAY
RFID JOURNAL EVENTS
ASK THE EXPERTS
Simply enter a question for our experts.
|RFID Journal LIVE!||RFID in Health Care||LIVE! LatAm||LIVE! Brasil||LIVE! Europe||RFID Connect||Virtual Events||RFID Journal Awards||Webinars||Presentations|