15 Jan

Myths and Misconceptions about RFID Technology

Do you know what RFID can do for your business? It may be the very solution you need to accelerate your operations. The RFID industry—including tags, readers, software, and services —reached $11.6 billion in 2019 and is expected to exceed $15 billion in 2024, according to IDTechEx.[1]What sets RFID apart is its unique ability to locate, authenticate and track tagged items quickly and more efficiently than other systems. With RFID, users can scan hundreds of items simultaneously by waving a handheld reader or automatically with a fixed reader that does not require manual labor. In this blog, we debunk some common myths and misconceptions regarding RFID technology.

Myth #1: RFID Is Only for Large Organizations

Whether your business is large, mid-size, or small, if you are looking for technology to increase the visibility of your inventory and assets and, ultimately, run your business more smoothly, RFID is your answer.  While its tracking capabilities are impressive, RFID technology’s most important feature is how you can use the information to impact on your bottom line.

RFIDs can save your business money by:

  • Avoiding chargebacks
  • Reducing needed safety stock
  • Accelerating accounts receivable

Myth #2: Implementing RFID into Operations is Challenging

There are a variety of different types of RFID technology, tags, and readers out there—each suited to different types of environment. Because of all the differences, determining the right RFID system is an important process. Ask these 4 questions to help determine which RFID is right for you. The applications are nearly limitless for assets that need to be located, identified, tracked and the resulting data can be used for a wide range of operational improvements.

Myth #3: RFID is 100% Accurate

RFID is a highly accurate way to identify, locate, and track inventory and assets. However, 100% accuracy is not always guaranteed and depends on how and where you’re using RFID technology. Therefore, it is critical to work with an RFID technology partner like The SMS Group to help you implement.

Let Us Help

Our team at The SMS Group can be a valued resource as you determine how to make the most of RFID solutions. Contact us today to learn more.

[1] “RFID Forecasts, Players and Opportunities 2019-2029”, IDTechEx Research, 2019.

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