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Over the past 10 years, the development of RFID (Radio Frequency Identification) has grown to help companies in every industry track down and manage their fixed asset management. However, the technology has still not reached it’s optimum usage. Presently the technology is overly expensive and is only really used at the manufacturer stage or on more expensive products. The ideal use of the technology would be to track items off store shelves for stock level purposes.

RFID is a form of tracking, very similar to barcodes. 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 uses radio waves to activate the chip which then sends the data about the item.

Despite the fact that, RFID asset tracking has yet to be univesally adopted by companies, a significant amount of companies within the United States are already taking advantage of the RFID tagging for other purposes. A few of the services that have started using RFID tagging include mass transit ticketing, payment methods, libraries, museums and new passports. The majority of industries using RFID are run by the government.

Although the majority of companies know why RFID is so important, but they haven’t got the money to buy into it. In the recent years, knowing where your assets are has become very important. However, the majority of companies will find auditing timely and costly. Quite a few companies find that they have missed a number of their items after 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.

An example of where RFID tags have been so useful is in the Unilever factory in England. They have taken over 20,000 items on their production line and added the RFID tags. These tags make it easier for them to audit their assets remotely, if this was done manually, they would end up shutting down the production process.

This example is just one to show how RFID can really save your business time and money. There is a huge amount of examples out there. Another example is in the fire service, they can track equipment to save vital time. It also makes sure that unequipped vehicles don’t go to the scene of an accident.

Unfortunately, RFID tracking comes at a hige price. With the most advanced tags costing about $60, keeping track of your assets isn’t cheap. Hopefully costs will fall as the technology becomes cheaper to develop. Once this method of asset tracking becomes more well known asset tracking software programs will become more widely used.

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