Manufacturing companies often face challenges related to asset tracking and management. Delays and losses in the supply chain often prove costly and affect the growth of the establishment.  

Traditional ways of keeping track of assets and inventory included serial numbers, spreadsheets, and barcodes. However, these manual methods are time-consuming and could result in errors.  

The introduction of RFID in supply chain has transformed manufacturing processes. This tracking technology allows businesses to streamline operations, enhance productivity, and increase efficiency. 

This blog details the benefits of this technology and how it helps maximise manufacturing efficiency. 

Understanding RFID 

RFID stands for Radio Frequency Identification. The system uses radio frequencies to search for, identify, and track items. Information is exchanged between small computer chips or RFID tags and a reader. An asset management system can store, monitor and analyse the received data.  

Two major components involved in RFID tracking are tags and readers. RFID tags store information, including name, condition, and location. It is attached to an asset. RFID tag transmits data through pulsating radio waves. RFID readers receive the information stored on the tags and transmit it to be processed. 

RFID asset tracking in manufacturing allows managers to monitor the movement, location, and status of assets throughout production. 

How RFID Asset Tracking Boosts Efficiency? 

Here are some key features of RFID asset tracking that improve manufacturing efficiency: 

Reduced Manual Labour 

Using RFID technology automates processes like monitoring the movement of goods and data collection. Updates on the location of the goods are directly sent to the asset tracking system. This information can be used to identify delays, keep track of stock levels, and more. 

This tracking system does not require employees to be near the asset to locate it. Moreover, they no longer have to perform tasks like searching for misplaced goods or counting inventory amounts manually. This speeds up processes, reduces labour costs, and improves overall productivity. 

Moreover, the chances of human error and associated costs are also lessened. 

Enhanced Asset Visibility 

Every asset in a manufacturing facility can be fixed with RFID tags, from raw materials to finished goods. Using RFID provides businesses with real-time status and location of their assets, enhancing asset visibility. Reading RFID tags will tell you where each asset is, inside or outside the facility.  

You can easily access inventory information and monitor storage, distribution, and replenishment. Moreover, incoming and departing shipments can be supervised easily. Hence, deliveries can also be carried out seamlessly, increasing client satisfaction. 

Asset visibility resolves problems caused by poor organisation, including misplacements and other mistakes that might occur during manual processes.  

Minimise Loss Due to Theft 

RFID tracking helps in recovery in the event of theft. Using RFID readers, businesses can triangulate the exact location of their assets. 

The system can generate alerts and notifications if an item moves into an unauthorised area. The level of visibility this technology offers makes the chances of theft and misplacement very minimal. 

Thus, real-time location allows businesses to reduce costs associated with misplacement and theft. 

Easy Integration 

When a third party assists with transporting products, it is easy to integrate your asset tracking into their systems. This allows your customers to track the item as well. It also makes invoicing and billing easy to follow. 

Moreover, most RFID systems would be easy to integrate with your existing software and systems. 

Informed Decision-Making 

The insights provided by RFID data will prove extremely useful when making decisions to improve the overall productivity and efficiency of the organisation. Detailed analytics on operational performance, asset allocation, and inventory management allow for informed decisions. 

Bottom Line 

Switching to RFID asset tracking would be an immensely beneficial move for organisations. Besides eliminating errors, this would take you to new productivity levels, reduce costs, and drive decision-making processes. Industry experts like Quinta know how to navigate the best asset-tracking solutions and improve efficiency.