RFID Applications
Endless applications that benefit from RFID
What sets a potencial RFID Application?
the need to uniquely identify individual items quickly and more efficiently where traditional systems fall short.
Race Timing
Supply Chain Management
Pharmaceutical Tracking
Inventory Tracking
IT Asset Tracking
Linen Tracking
File Tracking
Returnable Transit Item (RTI) Tracking
Linen Tracking
Access Control
Vehicle Tracking
Tolling
Medical Equipment
Animal Tracking
Tool Tracking
Jewelry Tracking
Retail Fashion
Pipe And Spool Tracking
Yard Management
Libraries
Real-Time Location Systems
RFID Projects ROI
When the company will see a return on its investment?
Before Implementing An RFID System, Both Application Feasibility And Cost Feasibility Should Be Assessed.
When considering purchasing and deploying any new system, two of the most important questions to answer are if and when the company will see a return on its investment. Fixed costs, recurring costs, as well as the cost of switching in terms of labor costs, all must be evaluated before implementing a new system.
Application Feasibility
RFID systems can be expensive. They require an initial investment for testing and working with different types of equipment and tags (which may be a sunk cost for the company if the technology doesn’t pan out). After the testing phase, deployment costs begin (Read more about Fixed vs. Recurring Costs below). Only after a system has been implemented and is working properly can the timeline begin for seeing a return on the investment.
Cost Feasibility
Cost Feasibility refers to assessing if implementing an RFID system is achievable from a monetary perspective. Cost Feasibility includes not just if an ROI is possible, but it also includes working with current numbers and prospective numbers to determine the estimated timeline for a return on investment.
RFID systems can be expensive
They require an initial investment for testing and working with different types of equipment and tags (which may be a sunk cost for the company if the technology doesn’t pan out).
After the testing phase, deployment costs begin (Read more about Fixed vs. Recurring Costs below). Only after a system has been implemented and is working properly can the timeline begin for seeing a return on the investment.
Fixed vs Recurring Costs
Grouping costs by fixed (initial) or recurring will help to paint a more accurate picture of expected yearly costs and rOI of a system.
Fixed Costs
Fixed costs are one-time costs that are associated with getting started. In an RFID deployment, a fixed cost is typically associated with hardware like readers, antennas, and cables needed to setup the system. Fixed costs do not necessarily mean that you will not ever purchase that item again, it just means that the item is not used once and then discarded or consumed during the application. If you plan to set up an initial system and then expand that system later, hardware will still be considered a Fixed Cost. RFID tags are only considered to be a fixed cost when they are continually reused throughout the system – e.g. access control RFID fobs that are assigned and redistributed as needed to employees.
Recurring Costs
Recurring costs are attributed to items that are used once and then discarded or consumed during the application. An RFID inlay or label is a common example of a recurring cost in an RFID system. Because of their low-cost, these tags are frequently applied once and kept on an item for its lifespan (or discarded after use). If an RFID printer is used, then printer ribbon would also be a recurring cost. If a software license renews annually or is purchased as a SaaS (Software as a Service) product, then it too should be factored as a recurring cost.
External Factors
RFID systems can be susceptible to certain materials and environmental factors that can cause diminished read ranges and affect overall system accuracy. Metal and liquids are the two most common sources of interference for RFID applications, but they can be mitigated with the proper RFID tags, equipment, and planning.
As RAIN RFID becomes more commonly used with liquid-filled items or metallic items, more and more tags are released with new ways to lessen these problems. In addition, techniques have been developed that can help mitigate the effects of these items, like working with tag placement and spacers.
