Home Internet of Things Aerospace Apparel Energy Defense Health Care Logistics Manufacturing Retail

Access This Premium Content

Options To Access This Article:

What Subscribers Are Saying

  • "Probably the best investment I've ever made."
    Steve Meizlish, President & CEO, MeizCorp Services, Inc.
  • "I have found that RFID Journal provides an objective viewpoint of RFID. It you are looking for a resource that provides insights as to the application and implications of deploying RFID, RFID Journal will meet your needs, It gives you a broad perspective of RFID, beyond the retail supply chain."
    Mike O'Shea, Director of Corporate AutoID/RFID Strategies & Technologies, Kimberly-Clark Corp.
  • "No other source provides the consistent value-added insight that Mark Robert and his staff do. In a world dominated by press release after press release, RFID Journal is developing as the one place to go to make the most sense out of the present and future of RFID in commerce."
    Bob Hurley, Project Leader for RFID, Bayer HealthCare's Consumer Care Division
  • "RFID Journal is the one go-to source for information on the latest in RFID technology."
    Bruce Keim, Director, Hewlett-Packard
  • "RFID Journal is the only source I need to keep up to the minute with the happenings in the RFID world."
    Blair Hawley, VP of Supply Chain, Remington Products Company

RFID: A Strong Technology in a Weak Economy

Can radio frequency identification give businesses a fighting chance against hard times? A growing number of companies are convinced that it does.
By John Edwards
Dec 19, 2011—With the "soft" economy now entering its fourth year, by some estimates, it's easy to understand why many business leaders are tempted to belt out a few bars of the old Merle Haggard tune "Are the Good Times Really Over?"

For many companies facing dismal markets and depressing financial outlooks, it's not a question of getting back to business as usual, but grabbing onto a life ring that will keep them afloat for the duration. While radio frequency identification alone can't restore the good times, a growing number of businesses are convinced the technology can help them better survive the tough period, however long it lingers, and position them to hit the ground running once the economy gets back in gear. By powering revenue-building innovations and allowing adopters to run smarter, leaner operations, RFID is filling a critical role for companies that have already made the most of all the traditional recession-fighting tools at their disposal.

Photo: iStockphoto

"Everybody is a little scared about what's going on in the economy," observes Drew Nathanson, VP of the Auto ID practice at VDC Research, a technology market research firm in Natick, Mass. "There's a lot of volatility, and volatility typically means holding onto your money." Nathanson thinks now is the time for businesses in almost any field to consider implementing or expanding their use of RFID. "The value proposition is proven; it's a smart investment," he says. "The benefits adopters get are immense, especially the influence on the bottom line."

Businesses that employ RFID to save money or create new revenue streams can protect their bottom line and market share, leaving budget slashing and employee layoffs as absolute last resorts, says Anthony Palermo, director of business development at the Academia RFID Centre of Excellence, an RFID training, certification and consulting firm in Montreal. "People are always looking to find ways to make things more efficient, but when the [financial] crisis happened, many organizations went overboard," he says. "I think people just cut; they cut their budgets, they cut their staff—it was reactionary. Now, businesses are being proactive by looking at ways to make things more efficient." That way, he adds, they'll be ready if the economy falls into a double-dip recession.

Here's an in-depth exploration of why four organizations in different sectors adopted RFID during these tough economic times, and how they are benefitting from the technology.
To continue reading this article, please log in or choose a purchase option.

Option 1: Become a Premium Member.

One-year subscription, unlimited access to Premium Content: $189

Gain access to all of our premium content and receive 10% off RFID Reports and RFID Events!

Option 2: Purchase access to this specific article.

This article contains 2,865 words and 8 pages. Purchase Price: $19.99

Upgrade now, and you'll get immediate access to:

  • Case Studies

    Our in-dept case-study articles show you, step by step, how early adopters assessed the business case for an application, piloted it and rolled out the technology.

    Free Sample: How Cognizant Cut Costs by Deploying RFID to Track IT Assets

  • Best Practices

    The best way to avoid pitfalls is to know what best practices early adopters have already established. Our best practices have helped hundreds of companies do just that.

  • How-To Articles

    Don’t waste time trying to figure out how to RFID-enable a forklift, or deciding whether to use fixed or mobile readers. Our how-to articles provide practical advice and reliable answers to many implementation questions.

  • Features

    These informative articles focus on adoption issues, standards and other important trends in the RFID industry.

    Free Sample: Europe Is Rolling Out RFID

  • Magazine Articles

    All RFID Journal Premium Subscribers receive our bimonthly RFID Journal print magazine at no extra cost, and also have access to the complete online archive of magazine articles from past years.

Become a member today!

RFID Journal LIVE! RFID in Health Care LIVE! LatAm LIVE! Brasil LIVE! Europe RFID Connect Virtual Events RFID Journal Awards Webinars Presentations