By The Custella Team
A Glimpse Of The Past
As the name suggests asset management is the process of managing physical goods and resources from the age of purchase all through to disposal. This process can also include the potential replenishment of the aforementioned goods. Whereas RFID on the other hand stands for Radio Frequency Identification and is the technology that is used in the identification of physical goods.
The Relationship In Between
When it comes to assets a key challenge businesses face is in locating and managing important assets. Businesses have adopted more traditional means of asset management such as using barcodes, serial numbers and spreadsheets. These traditional methods means that often, time is lost and additional manpower is needed thus elevating costs. However with increasing advancements in technology with the introduction of RFID (Radio Frequency Identification), asset management has steadily been improving.
RFID asset management has allowed businesses to enjoy the benefits of automation that have advanced data management processes. With the additional benefit of ensuring that businesses remain cost-effective and that time is utilized more efficiently, the integration of RFID into asset management has gone a long way in revolutionizing the ways in which companies conduct their respective businesses.
In a nutshell, an RFID asset management feature or system utilizes intelligent labels to uniquely identify each asset. Radiofrequency signals to the label that a reader is connected to and the information on the label is then transmitted by radio frequency to an antenna and then subsequently to the reader, the data is then gathered in the cloud with the real-time updates of each object thus guaranteeing greater accuracy, reliability and efficiency.
A Look At The Future
In adopting the use of an asset management feature or system that integrates RFID technology companies can reap greater benefits which include but are not limited to:
Visibility and efficiency RFID improves visibility in data gathering data by generating real-time updates on assets whilst increasing scanning time.
Smarter inventory investment by using a tool incorporating RFID technology assets can be taken stock of due to the greater control offered by the technology. Therefore it’s easier to determine inventory that may need replenishing whilst altogether increasing the simplicity in the overall management of goods.
Reduce costs by saving time RFID eliminates labor costs by automating processes that would otherwise be time-consuming such as inventory counts as well as labor costs associated with the repositioning of boxes in the case of barcodes for example. Thus saving time and working to reduce associated costs.
A case in point is Custella, a field service optimization tool with an asset management feature that incorporates the use of RFID technology in assisting businesses to manage their assets in the field.
Let us take a look at a business in the food and beverage industry, a cafe manager in need of procuring stock for his business, and can utilize Custella to inform the supplier of his need for a new purchase of stock. He can scan the item that needs replenishing and send a job order notification which then creates a dispatch order and allows for new stock to be supplied and delivered to the cafe. This asset management feature automates the entire process with the smart utilization of RFID technology to ensure greater operational efficiency through better inventory management.
All in all, the development and deployment of RFID technology to assist in asset management would afford innumerable benefits to a wide range of businesses within several industries. The integration of this technology will go a long way in distinguishing businesses that choose to adopt this into their business model and ensures that they have an increased competitive advantage. Undoubtedly, an asset management feature with RFID technology provides a unique solution to businesses, that would otherwise not be made possible without this solution.
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