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RFID and the IIoT for Industrial Tool Tracking

Tool-tracking solutions based on RFID and the Industrial Internet of Things increase tool traceability and availability, reduce tool search times and bring down asset-carrying costs.
By Boris Shiklo

Benefits
Tool-tracking systems based on RFID and the IIoT drive both process and business improvements, including:

Increased Tool Accountability and Traceability
Handheld tools can be lost, misplaced and stashed by workers. Smart tool-tracking solutions help to prevent these issues by providing asset specialists with real-time data into the location, movements and usage history of each tool.

Reduced Tool Search Time
Technicians spend a lot of time searching for tools, which may not be at hand when required. This can lead to a decrease in productivity and job satisfaction, as well as missed production deadlines. With smart tool tracking, workers can easily access real-time data about tool location, so they waste no time searching for the required tooling.

Increased Tool Sharing
Tool-tracking systems based on RFID and the IIoT provide a real-time view into a tool's availability. Given this data, several employees can schedule tool usage, which frees an enterprise from the need to buy additional tooling.

Theft Prevention
According to a recent survey carried out by Volkswagen, during the past three years, tool thefts have costed businesses an estimated $60 billion. Tool-tracking solutions help to identify and prevent equipment theft by detecting when a tool leaves a manufacturing facility or a warehouse.

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