Are You Leaving Profits on the Table by Under-Utilizing RFID?

August 25, 2022

Radio Frequency Identification (RFID) technology has been around for a while, but not everyone who can benefit from RFID tags is doing so. If your company has challenges such as inventory management, asset tracking, the need to reduce theft, or automate checkout, check out the transformational power this technology brings.

What Is RFID?

RFID stands for Radio Frequency Identification. RFID tags are small devices that store information about an item to which they are attached. This includes name of the product, price, condition, location, and more. This information is read by an RFID reader, which uses radio waves to communicate with the tag.

There are two main types of RFID tags: passive and active. Passive tags rely on the power of the RFID reader to activate, while active tags have their own power source (usually a battery). Active tags are more expensive than passive tags, but they have a longer range and can be read more easily in difficult environments, such as warehouses and logistics hubs.

Where can you use RFID tags? On pretty much anything. Common uses include:

  • Clothing
  • Electronics
  • Food and beverage products
  • Medical supplies
  • Packages and parcels

Just to name a few.

This technology has practical benefits for just about every company in every market vertical, so don’t miss them! Let’s take a look at some of those benefits.

1. RFID Tags and Labels for Tracking Inventory

One of the most popular ways for companies to use RFID labels is for inventory management. Historically, barcode labels have been used for this purpose, and while this approach is effective, it is not ideal. Barcode labels have limitations in that they must be scanned one at a time and require a line of sight to work properly. This can be time-consuming and error prone.

RFID labels are a much better solution. Why?

  1. Unlike barcode labels, RFID tags can be read from a distance. For inventory tracking, this makes RFID much preferred.
  2. RFID tags can be read through other materials, such as boxes or packaging. This allows you to track inventory even if it’s not directly visible.
  3. Barcode labels can be damaged or covered up, making them difficult to read. RFID tags are more durable and can be read even if they’re damaged.
  4. Finally, RFID tags can store more information than barcode labels. This means that you can track not only what inventory you have, but also when it was shipped, received, and more.

2. RFID Labels for Tracking Assets

RFID can be used for tracking company assets, too. This can be done by attaching RFID tags to assets such as equipment, tools, and vehicles. This allows you to track the location of key assets, increasing efficiency within the organization and reducing losses due to theft or misplaced inventory.

3. RFID Labels for Reducing Theft

A third popular use for RFID labels is to reduce theft. Here are three ways RFID accomplish this goal:

  • RFID tags can be used to track the product’s location (whether products or company assets), which makes it more difficult for thieves to steal without being detected.
  • RFID tags can be used to trigger alarms if a product is removed from its designated area.
  • By making RFID tags highly visible, they can act as theft-deterrents. Thieves know that when stealing a product with an RFID tag, they are more likely to get caught. Likewise, RFID tags can be made tamper resistant. This way, thieves cannot simply remove the tags from the items they have stolen.

4. RFID Labels for Automating Checkout

When you’re running a business, every second counts. In fact, according to Box Technologies, 41% of shoppers have abandoned a purchase due to long wait times in checkout lines, and 86% avoid stores where they perceive the lines to be too long.  Creating the easiest checkout possible is clearly something to prioritize.

For these reasons, RFID technology is an incredibly valuable tool. RFID tags can be read quickly and accurately, which means that customers can get in and out of your store more efficiently. When you can move customers through your store more quickly, you can increase your sales and profits.

From an operational perspective, RFID allows you to track exactly what products are in stock and where they are located. This information can help you make better decisions about inventory levels and restocking. Plus, if there’s ever a problem with an order, you can quickly and easily locate the specific item that is causing the issue.

RFID: More Efficiency, More Effectiveness, and More Profits

Overall, RFID provides a number of benefits that can help you run your business more efficiently and effectively. If you’re looking for a way to improve your store’s operations, RFID tags and labels are definitely worth considering

Want to learn more? Contact your Brandmark sales representative.

<a href=””>Image by vectorpouch</a> on Freepik


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