The technology around us is constantly evolving, and due to that, we are going through a lot of transformation where we get more efficiency, and our productivity also increases. The involvement of RFID technology and IoT is one of the main parameters that is bringing rapid change in the operations of a business.
In this blog, we will
explore the different parameters from where we can understand how these
technologies are shaping the inventory and warehousing management of a company.
Understanding RFID and IoT
RFID has tags, which are
small microchip that contains an antenna. The microchip stores data, and the
antenna allows the user to communicate with the tag and know about the products
in detail. It has a Radio Frequency field which provides necessary information
about the product.
There are various
applications of this product, and one is in RFID warehouse inventory management, where it enables the feature of
real-time tracking and can also trigger the stock alert.
On the other hand, IoT
offers a solution of interconnectivity where the physical objects are connected
with the software and sensors of that particular place. It is helpful for
increasing sensitivity and also to increase efficiency in mobility.
The Synergy of RFID and IoT
There are many benefits a
company can harness when it tries to develop a system that will integrate the
IoT with the RFID technology. RFID can help the warehouse manager to know
instantly about the asset, and with the IoT platform, the data can be easily transmitted
in the warehouse.
The integration of these
two technologies helps to increase the visibility of the products and can check
in detail about the whole supply chain process. It gives a comprehensive
real-time understanding of the whole supply chain and is beneficial for the
company to actually take advantage of it and understand the whole supply chain.
Predictive Analysis and Smart Warehousing
RFID is the greatest gift
for those companies that heavily rely on warehouse management for maintaining the
operations of the business. For example, big retail chains constantly need a
supply of goods from the warehouse to keep the shelves full and filled with
relevant products.
There are different types
of benefits a company can take using these technologies. Once the company knows
the frequent sales of each product and how often they need to fill the stack of
the retail store, then the company can use IoT to predict the overall volume of
future sales so that the company can buy in bulk and lower its inventory costs.
RFID inventory system cost helps to predict the initial cost required to fill the
warehouse with that kind of product, which helps the company get an idea of how
much capital is going to get invested in that segment, and that gives a clear
idea to the company about their total operational cost.
The most important thing
about these technologies is that it is helping business to transform and become
more efficient so that customers don’t need to face the trouble of stock
shortage and always get the relevant products.
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