Tracking physical assets and products with RAMP RFID Solutions can improve reliability, cut costs, and enhance customer service. Deploying these systems can be a great fit for industries that use or move large quantities of physical stock or inventory.
Fixed costs are one-time expenses like readers and antennas that must be purchased to get started with the system. Recurring costs include RFID inlays, labels applied once and kept on an item for its lifespan, printer ribbons, and software licenses.
Inventory Management
RFID Solutions are ideal for companies who want to increase visibility into their inventory and product locations. It is vital for industries that frequently handle physical assets, such as logistics and retail.
By deploying an RFID system, businesses can automate their inventory management processes, saving time and money. It is achieved through RFID tags containing a unique ID and RFID readers that transmit data to a database system.
The software application can then access this information to track item movements. The technology can also be utilised to reduce labour costs and improve the accuracy of inventory counts.
Unlike barcodes, RFID tags can be scanned from a greater distance and do not require direct line-of-sight to be read. It makes it easier to scan large quantities of items simultaneously and eliminates human errors and slowdowns in the process.
Other benefits of using an RFID solution include lower cycle count times, the ability to reorder at safety stock levels, and automatic improved in-store operations. By reducing shrinkage and improving the customer experience, RAMP RFID Solutions can help companies increase sales and revenue.
By enabling retailers to better meet the needs of omnichannel customers, they can create better shopping experiences that build brand loyalty and trust. Achieving these goals requires accurate and real-time inventory management. Increasing stock accuracy in stores is crucial, but it cannot be easy without the right tools.
Asset Management
Managing physical assets is a critical component for any business that relies on the availability of high-value equipment, tools or vehicles to generate revenue. Whether tracking inventory, optimising warehouse operations, minimising retail shrink or automating yard management, RFID solutions provide significant benefits across industries.
Misplacing or losing a piece of equipment can be highly costly to a company, resulting in unnecessary expenses, operational delays and lost productivity. For example, American auto manufacturers replace lost reusable packaging at an estimated cost of $750 million per year. In comparison, job site theft costs Construction companies $1 billion annually, and 24 million luggage items are lost each year due to poor location tracking.
By combining RFID technology with smart software, businesses can automatically track asset locations and movements in real-time without relying on a line of sight. It allows managers to eliminate manual processes requiring manual data entry, creating inefficiencies and wasting employee time.
RFID technology utilises a tag, similar to a barcode, with an antenna that stores and transmits information wirelessly when scanned. This tag is attached to the asset and a reader placed in the same room or facility. The reader then sends the asset information to an intelligent system where it can be viewed and analysed. This data can also be integrated with other systems to increase automation and eliminate redundant steps.
Supply Chain Management
One of the key areas where RFID is used for supply chain management is warehousing and storage processes. The visibility provided by this technology helps workers keep track of merchandise more easily and improves inventory counts, order processing, and other critical business functions.
Retailers, for example, use RFID to minimise out-of-stock situations, provide real-time merchandise location information and enhance store operations. In addition, many manufacturers use RFID to manage warehouse inventory – especially for fast-moving consumer packaged goods (FMCG) such as beverages and food products.
Keeping track of the raw materials in your manufacturing process is essential for any company. Whether you’re producing clothes, computers, or fast-moving consumer goods, you must acquire all the necessary components and semi-finished products to create your final product. RAMP RFID Solutions offers a fast and reliable way to track these items, including raw materials and tools used in the production stage or industrial containers that need to be returned.
Similarly, RFID systems make tracking high-value equipment like machinery, vehicles or tools easier. These can be used to check that equipment and vehicles have been inspected, for example, or to confirm that a specific inventory has been assigned to the right production line. In addition, these systems can help companies ensure that all tools and other assets are returned if they are loaned out.