RFID Genie: The Smart Inventory Keeper

Home  /  RFID  /  RFID Genie: The Smart Inventory Keeper

 

The RFID GenieBefore the advent of the industrial evolution, trading and shop keeping meant maintaining inventory registers, counting the units sold at the day’s end and forecasting future needs. These calculations were likely to be based on experience and intuition which could lead to erroneous results.

Later, the growing challenges of efficiency, mass production and customer satisfactions did not leave any room for inaccurate and intuitive predictions. In the early 1930’s, a team at Harvard University designed the first modern check-out system. It used punch cards that corresponded with catalog items. A customer could select punch cards containing product information and bring it to the check-out counter. The computer would read the card, pass the information to the store room from where it would be brought to the waiting customer. This system proved expensive and merchants started looking for affordable solutions to manage their inventory.

With the development of inexpensive laser technology in 1960s, the concept of Universal Product Code (UPC) or bar code along with handy readers/scanners came into being. As it was relatively cheaper, this technology got widely accepted throughout the globe.

The new millennium brought a technology outburst to an extent that it changed the entire culture. The innovations of touchpads and tablets even changed the linguistic idioms. Life changed from a click of button to a tap of the finger. The Aladdin genie which was earlier an imagination came in the form of technology fulfilling wishes from booking a vacation to paying utility bills with just a tap. In this bullet ride, what was thought to be the efficiency in the former era, became delays of the present. The bar code technology could not keep pace with this acceleration. As this technology needed line of sight and each and every item had to be scanned individually, these delays could no more be afforded.

This paved way for RFID technology which is the current and the latest trend in inventory management. Using RFID technology for data collection and some appropriate inventory algorithms for replenishment decisions, many warehousing processes can be automated such as, receiving, picking, and ordering. Various enterprise applications, for example ERP packages, can be configured and linked to RFID technology for direct and on-line collection of data. It could be possible to combine RFID and Bar coding technology for tracking of items to take competitive advantages of both the technologies.

  • Inventory monitoring and asset visibility.
  • Monitor demand trends or build a probable pattern of demand using POS data.
  • Reduced bull whip effect
  • Lead time reduction
  • Reduced inventory shrinkage
  • Perishable inventory control

Some of the market leaders those who have already implemented RFID technology are; in retail sector, DHL, McDonald’s, Texas Instruments, Tesco; in automotive sector BMW, DaimlerChrysler AG, Goodyear; in manufacturing industry Boeing, Hyundai, Toyota; in airline industry McCarran International Airport, US, Virgin Atlantic Airways.

We, at Way Point Systems, provide Radio Frequency Identification (RFID) based inventory and asset management solutions in the Middle East. Are you planning to make a move to RFID based business solutions but have some doubts? Talk to us – share with us your thoughts and plans as we’re here to hear you out!

Share Button

21 Comments so far:

  1. An impressive share, I just given this onto a colleague who was doing a little analysis on this. And he in fact bought me breakfast because I found it for him.. smile. So let me reword that: Thnx for the treat! But yeah Thnkx for spending the time to discuss this, I feel strongly about it and love reading more on this topic. If possible, as you become expertise, would you mind updating your blog with more details? It is highly helpful for me. Big thumb up for this blog post!

  2. Typically I can’t read through article for information sites, on the other hand prefer to claim that this kind of write-up very forced myself to think about along with accomplish that! Your current way with words may be astonished my family. Thank you, pleasant submit.

  3. Thank you! Really, really useful!

  4. Cassi Began says:

    I really enjoy looking at on this website , it has wonderful content . “Literature is the orchestration of platitudes.” by Thornton.

  5. Saved as a favorite, I like your website!

  6. Arlie Kayler says:

    Truly beneficial thanks, There’s no doubt that your readers would possibly want far more items along these lines carry on the excellent function.

  7. Can you tell me how you came up with this?

    Feel free to visit my blog … Studio City, contraperiodismomatrix.com,

  8. Ines says:

    Everyone loves it when folks come together and share thoughts.
    Great blog, stick with it!

  9. I’m still learning from you, as I’m making my way to the top as well. I absolutely enjoy reading all that is written on your website.Keep the stories coming. I loved it!

  10. This paragraph will assist the internet visitors for setting up new webpage or even
    a blog from start to end.

  11. I simply want to say I’m very new to weblog and truly savored this web site. Probably I’m planning to bookmark your website . You really come with wonderful stories. Thanks a lot for sharing your web site.

  12. Mercedes says:

    Thank you for some other fantastic post. Where else could
    anyone get that type of information in such a perfect method of writing?
    I have a presentation subsequent week, and I am on the look for
    such information.

  13. I simply want to tell you that I am just all new to blogging and site-building and seriously savored this web blog. Likely I’m want to bookmark your website . You really come with awesome article content. Thanks for sharing with us your web site.

  14. I got this web page from my pal who shared with me about
    this website and at the moment this time I am visiting this web site and reading very informative articles or
    reviews here.

  15. I simply want to mention I am just all new to weblog and really savored this blog. Most likely I’m going to bookmark your site . You actually have awesome well written articles. Appreciate it for sharing with us your blog.

  16. After I initially commented I seem to have clicked on the -Notify me when new comments are added- checkbox and from now on every time a comment is added I get 4 emails with the same comment. Perhaps there is a means you are able to remove me from that service? Kudos!

  17. I just want to say I’m all new to blogging and site-building and honestly enjoyed you’re web page. Almost certainly I’m likely to bookmark your blog . You certainly come with excellent stories. Thanks a bunch for revealing your web page.

  18. *I am often to blogging and i really appreciate your content. The article has really peaks my interest. I am going to bookmark your site and keep checking for new information.

  19. Nice post. I learn something totally new and challenging on sites I stumbleupon everyday. It will always be useful to read through articles from other writers and use a little something from their web sites.

Leave a Reply

Your email address will not be published. Required fields are marked *

Human Check *
Time limit is exhausted. Please reload CAPTCHA.