How RFID Technology can be used for Fixed Asset Tracking

The past 10 years has seen the development of Radio Frequency Identification (RFID) rocket, making it easier for all companies to track and manage their fixed asset management. However, the current technology is not yet fully optimised for all businesses. Currently the technology is too expensive and is only really used at the manufacturer level or on more expensive products. The most ideal use of RFID technology would be to track items off shop shelves.

RFID technology performs a similar job as a barcode, it stores data about an asset, piece of equipment container or vehicle. A barcode is a visible tagging system, used to store product information, and is then read by a scanner tool. An RFID tag it attached to an item and stores information about the item on a chip, this chip is then activated and read using an RFID reader, all from a remote location. The reader sends out radio waves to connect to the chip and retrieve the data about the item.

In spite of the fact that, RFID asset tracking software has yet to gain widespread use, in the US there are a large number of companies that are already using this tagging system for other purposes. Identity cards, travel ticketing systems, and inventory tagging for the likes of museums and libraries are just some of the many services that use RFID technology. A large number of the companies using this tracking method are government funded.

Many companies do understand why RFID is so good, however, they haveb’t invested in it. In the past decade, the importance of tracking your assets has become vital. However, the majority of companies will find auditing timely and costly. Many also find that they have missed items when they are auditing.

By implementing RFID tags onto the majority of your assets, you can track and read hundreds of your items all at the same time. This helps you to manage your assets more simply.

Unilever is just one of the big names that are using RFID tracking in their factories. They have attached over 20,000 tracking tags to assets on their production lines. The tagging system allows Unilever to audit their items from a remote location, whereas if they had to do this manually, it would result in shutting down the production line.

This is just one example where RFID tracking can help your business and avoid you loosing money. There are many other examples. Other examples can be found in the emergancy services sector, they track pieces of equipments to help save time. It also makes sure that unequipped vehicles don’t go to the scene of an accident.

Unfortunately, RFID tracking can be expensive. With the more advanced tags costing around $50, tracking your assets efficiently is not check. Hopefully as the development fees for the tags comes down, so will the costs to buy the tags. Once this method of asset tracking becomes more well known fixed asset tracking software programs will be used more and be more advanced.