Radio Frequency Identification is gaining more popularity for asset tracking compared to other methods, such as barcode or Excel files, due to the efficiency and time savings that the technology provides. We have highlighted the 5 Benefits of RFID asset tracking in this article that we are going to further explain.
First, have you thought about how many assets you have around your entire organization? Or, have you purchased additional assets just because you couldn’t find something? Are you prepared for a financial audit?
These are just a few of the questions that come to mind when determining if an RFID asset tracking system is needed for your business.
As your business continues to grow, asset tracking may be the last thing on your mind, however, this is very important to save time and money during inventories or when you are searching for specific assets throughout your organization.
5 Benefits of RFID Asset Tracking
1) Save Time by Increased Efficiency
RFID allows you to scan all assets within range of your antenna/reader in seconds. Line of sight to the tag is no longer needed. For example, when a barcoded asset tracking system is used, you physically have to scan each individual asset’s barcode tag. With RFID, you can walk into a room with a handheld reader and capture all assets instantly using an asset tracking software.
2) Reduce Lost Assets
Having an accurate and up to date asset inventory will eliminate “ghost” assets and prevent you from buying assets you already have within your organization. Ghost assets are assets that are recorded but are missing or unusable. Having an accurate asset tracking history will give you a better understand of the condition and locations of your assets and who is responsible for them.
3) Scheduled Maintenance
Having an asset tracking system in place will also allow you to schedule preventative maintenance on specific assets. This will let you keep your assets in peak performing condition which increases their life span. If you don’t have to purchase assets more frequently, you are saving money! Plus, keeping your assets operating and running are critical to your operation and customer service. Easily schedule routine maintenances on a recurring basis or as needed.
4) Scalability
As your business continues to grow, efficiently adding and tracking assets become even more critical. Having an asset tracking and management system in place will allow your team members to stay on top of critical changes to any assets plus this will provide an accurate record of assets for accounting. No more scrambling doing last-minute inventories for an audit.
5) Data Accuracy
RFID technology in asset tracking eliminates human error and increases the accuracy of data. If you are still using an excel file, you can now eliminate human input error. Or if you are using barcode, you can eliminate the chances of forgetting to scan an asset during your inventory. Collecting data through RFID is 99.9% accurate so you can rest assured that you are capturing and entering the correct Asset ID number.
A quick review of the 5 Benefits of RFID Asset Tracking:
- Save time by increased efficiency
- Reduce Lost Assets
- Scheduled Maintenance
- Scalability
- Data Accuracy
As your business continues to grow, start to consider how you are going to keep track of all your assets that your company will keep purchasing to maintain functioning at high levels. RFID is now becoming a staple in asset tracking as the best technology to efficiently, accurately, and effectively track and inventory your assets throughout your entire organization.
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