Radio frequency identification (RFID) is poised to become a major factor in supply chain management, according to industry analyst Venture Development Corp. Last year, global shipments of RFID hardware to support the supply chain reached $89 million. That number is expected to race ahead at a 38% annual rate between now and 2007 when sales are forecast by VDC to hit $448 million worldwide.
For that to happen, however, standards must be put in place. Also, there must be continued development work by consortiums such as the MIT Auto-ID Center and The Chipping of Goods program in the United Kingdom, says VDC.
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