Unchaining the Value of RFID for Unmatched Flexibility and Fast ROI
June 16, 2011
Businesses in a wide range of industries are realizing significant benefits from radio frequency identification (RFID) technologies. The return on investment (ROI) for RFID comes from reducing the time and labor required to track assets and materials, decreased losses and theft, improved maintenance operations, and streamlined efficiency through better asset availability and utilization. Many of these benefits occur in applications that do not directly require participation from suppliers and customers, and reside outside the external supply chain.
In fact, businesses are more likely to implement RFID and real-time location systems (RTLS) to track assets and improve security than for compliance or supply chain applications. Asset tracking is one of the leading RFID applications. This is because the process improvement delivers some of the clearest benefits and fastest ROI. Businesses can realistically expect full ROI for RFID-based processes in 30 months, and sometimes as low as 18months, according to an Aberdeen Research study.