7 Major Sectors Using RFID Technology for Asset Management

For asset management RFID is one of the best successful evolved technology. There are several sectors that are using RFID for asset management. But we know, there are a lot of people who don't clearly understand the term RFID Technology.

So, with just a basic introduction to RFID technology, we will discover what are the sectors that are utilizing RFID technology.

RFID is the short form of Radio Frequency Technology. It is used via a tag. A tag is put on the asset and the reader scans the tag through which it fetches all the details of the asset. It works on frequency-based technology.

Since we have covered the basic introduction of RFID, let's go through our main topic. sectors that are using RFID for asset management.

There are several sectors that are using RFID for asset management, but we will go through a few major sectors.

Major sectors utilizing RFID Technology to track & manage their assets

Healthcare Sector

On the hand of a patient a band is girded which has RFID. Through this RFID the hospital keeps track of the patient. It maintains the record of the patient.

When the patient is admitted from a long-time RFID helps the doctor to know if the patient is allergic to any medicine. The historical record of the patient also assists in surgery providing crucial information.

A hospital own lots of surgical tools and each of them is costly. These tools come in all sizes, the small tool can be lost easily, or someone can steal. With an RFID tag, you can always keep track of your tools. Every tool is important in a hospital.

Also, the hospital can keep tools maintained with asset management. We know every tool needs to be cleaned, sterilized & kept sharp. So that each surgery can be done without any problem.

Medicine management is also a critical and sensitive concern! How much medicine is left in stock? Which medicine is getting expired soon?

An effective asset management software can answer the above-mentioned questions easily. It also assists hospitals in knowing the stock level and its location. With the RFID tag, you can get accurate information about stock & inventory easily.

Manufacturing Sector

There are many big machines & heavy equipment available in the manufacturing organization. And they all need maintenance but how are you going to maintain them all on your own? Manually! No, with an RFID asset tracking system!

You can keep all your maintenance records on your fingertips, and you will receive notification for maintenance of each and every particular equipment. So that each piece of equipment won't disappoint at the most important time.

RFID ensures that the right driver drives the assigned vehicle to keep track of the efficiency of the employees. Every driver has RFID inbuilt in their ID Card assigned by their agency or company. Other than it also records if the employee's working hours, overtime, etc.

Hospitality Sector

RFID technology offers a cost-effective solution for increasing the hotel's efficiency. How about we take a gander at how RFID can be helpful in the hospitality area.

The hotel has a lot of inventories such as Bedsheets, comforters, staff uniforms, towels, and other laundry items. It's important that the customer gets it on time. Because service is very important for the customer.

These types of inventories come into use on a regular basis. Therefore, it increases the chances for theft, loss and it is where RFID Tag plays an important role in Inventory tracking.

A hotel has many valuable items such as well-furnished carpets, electronic equipment, chillers. These heavy types of equipment need maintenance need on time otherwise it can create cataclysm and disturb your business operations. You can maintain them without any problem via RFID Technology. It maximizes the ROI (Returns on Investments). RFID innovation offers picks up route past.

Vehicle Sector

The vehicles are the key elements of the supply chain and it is one of the biggest sectors in the world. The big vehicles such as trucks are used to carry raw material from one place to another. In the past, there was a lot of problem due to inaccurate information.

Since the RFID came into the vehicle sector this problem has reduced drastically. Their cars are their assets. Therefore, they need cloud-based asset management. Cab agencies also use RFID to keep track of their vehicles as well as drivers. In India, if cabs are found without RFID then they will penalize with a huge amount.

The other benefits of RFID technology implementation in the vehicle sector are that it provides real-time information. Here is an example, when your truck is moving for delivery you get updates on a regular interval. You can tell your client the exact information that is in how much time the product will be delivered.

Also Read: Barcode vs QR Code vs RFID vs NFC vs BLE vs GPS: Which One Is Better?

Clothing & Fashion Sector

You must be wondering how it would work in the clothing & fashion Sector? Tackling the counterfeit problem was the biggest problem!

RFID technology assists in overcoming that problem and the second advantage is tagging your clothes give you exact information about all cloths! You will know when your clothes will be out of stock so you can plan according to that.

Big fashion brands utilizing RFID in their unique way! They are using RFID for not only keeping data about their clothes available in stock but also keeping detail. Such as how many items are left of a particular colour, size, which product is sold quickly in which season, etc.

Therefore, it helps in effective planning according to the retrieved data and enhances product selling. Not just that, RFID Technology improves the customer experience.

Education Sector

Parents are very tensed about their children especially young ones. RFID makes the school, commute safer. It ensures that the student arrives at school safely while riding the bicycle. RFID technology is used to get real-time and accurate tracking.

The point behind this is to keep the exact location. That way, in case of a crisis, students can be evacuated quickly, and the board can know with 100 percent sureness that everybody has left the building or where students are if a lockdown happens. School uses RFID to keep track of the books and other valuable things (assets).

Security Sector

We know that RFID is invented in world war 2 for the purpose of security. Therefore, it plays a significant role in security and security (police, secret agencies) prefer RFID.

As it has some incredible feature for e.g. If someone tries to tamper evidence or try to remove RFID from something, then RFID changes its colour due to its hologram.

Several countries across the world such as Japan, Sweden, USA included RFID transponder on their citizen passport as a security purpose.

RFID is utilized in amusement parks, events, stadiums, etc. for ticketing and security objective. The ticket is tied on the wristband, but some people just try to copy and try to do fraud. RFID is a relief and a reduction in human error during the entry process and minimizes fraudulent tickets or wristbands.

Also Read: The Importance of IT Asset Discovery in Your Business

Conclusion

RFID technology can be noticed anywhere from passport to credit card, from the fashion sector to the smartphone sector. They are little scannable tags.

It has come a long from world war 2 and now it has the potential to tracking anything and everything. RFID is flexible enough for asset management & implementing in any business sector.