Optimising Operational Efficiency through Industrial IoT solutions
Operational Efficiency is a goal industrial companies strive towards. Businesses face operational challenges such as asset accountability, operational disruptions and safety issues on a daily basis. To minimise the costs of these issues, industrial companies have to find ways to make their operations more efficient. The advent of RFID technology has given businesses the opportunity to increase their operational productivity through accurate, real-time inventory visibility.
There are many challenges that industrial companies face in asset management. Industrial companies have issues with ensuring accountability for their assets. In addition, existing asset tracking methods have their own limitations when it comes to managing assets. Asset tracking is subjected to human error when manual methods of tracking are used, causing operational inefficiencies and delays due to misjudgement and poor decision making. Other technology such as barcode tracking have limited scanning capabilities, rendering it unable to harness a comprehensive and efficient asset tracking system.
Utilising RFID technology is able to bring multifold ROIs for businesses. According to The SMS Group, it only takes 2 hours for an RFID reader to scan 10,000 items compared to that of a barcode reader which takes 53 hours. Other than time savings, industrial companies also stand to gain a 3-5% reduction in supply chain costs and an average increase in revenue of 2-7%.
With RFID solutions, there is automation in operational processes, eliminating manual processes and data entry. This allows for real-time tracking, enabling businesses to make faster and better-informed decisions. RFID technology is able to harness full track-and-trace capabilities, attaining 100% accountability over asset tracking. By assessing the benefits that RFID technology amasses, it has a competitive advantage against other existing tracking methods by making businesses’ operations more productive and efficient.
Xerafy is a global leader in the Industrial IoT industry, providing innovative and cutting-edge RFID solutions for companies improve their operational efficiency tremendously. At the RFID & Wireless IoT Conference Tomorrow 2017, Xerafy launched it’s VDA-compliant Micro X II tags – marking Xerafy’s capabilities to stay ahead of the innovation curve.
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