Asset Tracking Using Radio-Frequency ID Can Help Reduce Losses

Asset tracking has leapfrogged into prominence as a preferred methodology for reducing costs. For businesses that must rely on logistics and transportation, there are far too many losses that can be caused simply by a lack of visibility. However, losing money to inaccuracies, inefficiency, and shrinkage is no longer something that companies must simply accept as the status quo.

Using radio-frequency ID asset tracking has spawned a revolution in providing oversight to transportation and logistics. RFID technology is the best way to monitor shipping as it provides accuracy levels that are close to 100%. RFID also allows orders to be processed more quickly, almost a third faster than standard order-processing procedures. The use of RFID also results in lower labor costs as many of the logistics functions are automated. Counting and tracking can be made much easier and more transparent.

Asset Tracking Helps Optimize Your Supply Chain

Enhanced supply chain visibility has led to many benefits made possible using the latest RFID systems. For supply chain management, optimization has made an enormous difference in how much can get done and how many resources are needed.

Many companies engaged in transportation and logistics have issues with supply chain operations and asset management. Companies that have a long supply chain need it optimized. However, doing so can cost them a lot of time and money. In large part, this is because it has always been done manually. Manual optimization processes increase the likelihood of human error and higher costs. These issues often become the focus of optimization as companies seek to gain better visibility throughout their supply chain.

When you can see every link in that chain — and know exactly what’s happening in real-time — every part of the process gets easier.

Prompt detection of delays, real-time reporting of anomalies, and the resolution of problems make the entire process faster. This allows you to make timely decisions. The visibility needed for better efficiency is available from end to end. You can reroute quickly, trace immediately, and quickly meet requirements for change. The visibility provides greater efficacy at every point in the supply chain.

Protecting Your Shipments

RFID asset tracking can do more than just letting you know exactly where a shipment is located. It can also let you know right away if there is an accident with your assets or they are mishandled.

Along with shipment tracking, RFID can be implemented to show you when items are thrown, dropped, or have an unintended impact on other shipments. Mistakes can and do happen, even with so much being automated. It’s always best to know in real-time whether they are happening to your assets.

Accidents or other errors can damage your assets and make them unusable. Needless to say, breakage costs you a lot in replacement shipments. However, they could also continue along the supply chain. Without a high degree of transparency, damages might make their way through the rest of the supply chain. RFID asset tracking provides a way to stop this from happening so that your reputation isn’t tarnished along with the damaged goods.

RFID asset tracking can also be used to alert you whenever there is a strong impact. Tags can measure the level of impact your assets are subjected to. This measurement will let you know if an impact occurs that is greater than a specific, agreed-upon threshold. Tags are read remotely, so there is no need for line-of-sight.

These tags are also able to be armed as well as tamperproof. They can provide a comprehensive tale of their journey. You’ll know immediately if a problem crops up. Using this form of tagged asset tracking can help reduce your amount of damaged assets anywhere from 40 to 60%.

Asset Tracking Frees Up More Time for Your Business

Utilizing today’s enhanced RFID asset tracking, businesses can save a significant amount of time. Most of the time that would have been spent remediating problems with the items in transit can instead be used for more important parts of your business. This means that less time is needed for disrupting everyday operations. Less time is wasted making changes, filling out claims, getting assets repaired or replaced, and so forth.

RFID Helps Pinpoint Issues Accurately

Once you can see every step in the journey of your assets, you’ll notice where there are problems. If an item is mistakenly sent elsewhere, dropped, or otherwise has a problem, you’ll know which portion of the journey needs to be tweaked. After that, the entire process is faster and more reliable. Being able to reduce issues that occur along the way requires you to know exactly when these problems are occurring. With RFID tags tied to specific assets, you will.

RFID tracking is a technology that provides a means every company can use to keep track of its assets. If you aren’t using RFID tags, you can be reasonably sure that your competitors are. To stay competitive, you’ll want to take a serious look at this latest business technology.