Tracking of assets is a major concern for every association, anyhow of its size. As an important element of the financial statement, the tracking and responsible operation of fixed and portable assets are largely important. A professional RFID solutions for asset tracking medium helps companies to identify each fixed and temporary in product. Particulars with the information like which asset it is, where it’s located, who has it, when it was checked, when it’s due for return, when is the conservation service due and the cost of the asset and deprecation and numerous similar information pointers to drive from the asset tracking system.
Also read: How RFID Empowers End-to-End Supply Chain Traceability
What Is RFID Solutions for Asset Tracking?
RFID asset tracking is an accurate and secure way to track your physical assets using RFID technology and tackle similar as readers and tags. It’s used in multiple diligence to ameliorate inventory operation, with companies adopting RFID tracking results seeing their inventory delicacy adding from 63 percent to 95 percent. RFID tracking works by loading an RFID label (active, unresistant, or semi-passive) with data (ID, condition, volume, position,etc.) and physically attaching it to the applicable asset for it to be read and captured in an asset tracking system.
RFID tracking aims to put an end to error-prone styles like pen and paper and Excel spreadsheets and provides benefits, for example, as:
- Tracking multiple assets at any one time
- Removing human intervention
- Collecting data in real time
- Improving asset visibility
- Locating lost or misplaced assets
- Maximising accuracy of stock
Urged by the boom of the Internet of things (IoT), Radio frequency Identification (RFID) has come a must have tracking technology for asset heavy organisations. From tracking airline luggage to perfecting security in retail stores, the capability to connect physical assets to data collection tools such as RFID Solutions for Asset Tracking Software has proved nothing short of revolutionary.
In the last 20 years, the relinquishment of asset tracking solutions has peaked worldwide. With the Manufacturing, Logistics, Retail, and Healthcare sectors leading the charge, the global asset tracking market share is estimated to be worth $ 36.3 billion by 2025. Asset operation is the process of tracking and managing the assets that an association owns, including their position, condition, and use. Effective asset operation is critical for assuring that an association’s assets are used efficiently and effectively, reducing the threat of loss or damage and adding overall productivity. Here are five crucial benefits of effective asset operation:
Advanced Responsibility
Effective asset operation enables an association to track the position and use of means, promoting responsibility and reducing the threat of loss or theft.
Cost savings
By tracking assets and optimizing their use, effective asset operation can help reduce unnecessary spending and ameliorate overall cost savings.
Increased Effectiveness
Proper asset management ensures that assets are available when demanded, reducing time out and adding overall effectiveness.
Enhanced Decision Making
Effective asset operation provides associations with precious data about their means, enabling them to make informed opinions about when to repair or replace them.
Enhanced Safety
Asset operation can help identify implicit safety hazards, similar as nonoperating equipment, and take corrective action to help accidents.
RFID solutions for asset tracking offers an important result for effective asset operation in the office terrain. RFID markers can be attached to means, enabling them to be tracked in real- time using RFID readers. This enables associations to cover the position and use of means, as well as identify implicit issues similar as lost or misplaced assets. In addition, RFID technology can help automate asset tracking, reducing the need for manual tracking and freeing up precious time and resources for other tasks.
How Accurate is RFID Asset Tracking?
RFID solutions for asset tracking can give 25x briskly data collection with further than 99 percent data accuracy in tracking and locating assets, when compared to barcodes data collection. Still, the accuracy of RFID asset tracking can be told by different factors, including the quality of the RFID system, environmental conditions, label placement, and hindrance from near objects or radio signals. Proper RFID trailing is important for accurate asset operation and tracking. Assuring that RFID markers are attached or implanted in a way that optimizes readability and minimizes hindrance can ameliorate delicacy. RFID asset tracking systems are designed to give accurate and dependable data capturing. When an RFID label is within the range of an RFID reader, the reader can capture the unique identifier and other information stored on the label with a high degree of accuracy. The technology allows for fast and non-contact data capture, reducing human errors associated with manual data entry or barcode scanning.
Also read: Steel Inventory Management Solutions By RFID Technology
Conclusion
Effective asset operation is critical for maintaining productivity and reducing costs in the sector. RFID technology offers an innovative result for tracking and managing assets in real- time, perfecting responsibility, adding effectiveness, and reducing the threat of loss or theft. By using RFID technology for asset operation, associations can optimize their use of means, reduce unnecessary spending, and ameliorate overall productivity and safety.
