Inventory

RFID Technology Attracts 97% of Supply Chain Professionals

RFID Technology Attracts 97% of Supply Chain Professionals

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RFID Technology Attracts 97% of Supply Chain Professionals

Supply chains form the backbone of most industries, playing a critical role in ensuring the seamless flow of goods and services. However, today's rapidly changing global and economic environment presents unexpected challenges for supply chain professionals. According to a new report titled "Inventory, Labor, and Sustainability: How RFID Solves Today's Supply Chain Challenges" prepared by Impinj and Supply Chain Dive, 96% of supply chain experts are concerned about ongoing labor shortages. 

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Additionally, 86% have expressed concerns about their companies' ability to meet sustainability or carbon emission targets. Due to continued shipping and tracking challenges following the COVID-19 pandemic, 40% reported that inventory tracking issues have slowed down their order picking process.

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In the report, Hunter Abbey, account manager at Velociti, a global enterprise technology solutions provider, stated, "The challenges we face today will continue as fewer workers return to the workforce," noting that conditions will not improve to pre-2019 levels. Similarly, Farley, cited in the same source, emphasized that RAIN RFID solutions provide organizations with superior end-to-end supply chain visibility.

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The report reveals that RFID technology is increasingly being adopted among supply chain professionals. While 97% of survey respondents indicated that their organizations have already adopted RFID or plan to adopt it, this figure was recorded at 83% in the 2022 report. Furthermore, 75% of organizations that have already implemented RFID stated that they feel quite or extremely confident in their ability to withstand supply chain pressures over the next two years thanks to their current technology toolsets. Additionally, 48% of respondents expect their organizations to reach a mature RFID implementation within two years, representing a 140% increase compared to the number of those currently achieving full implementation.

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RAIN RFID is a type of ultra-high-frequency RFID technology that, as a low-cost, battery-free, and wireless technology, extends IoT to the supply chain and logistics organizations' capacity to track and manage everything they need. This technology is an extremely effective way for companies to increase supply chain visibility, optimize workforce resources, and ensure more efficient operation of existing systems.

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According to the report, RFID solutions help address the most critical concerns in the supply chain. By automating data collection operations, RFID eliminates the need for manual data entry, enabling companies to accomplish more work with fewer employees. Additionally, by increasing visibility across the supply chain, it facilitates forward planning for companies and helps delivery vehicles plan their transportation routes more efficiently. This approach reduces carbon emissions by decreasing total distance traveled and provides significant advantages in meeting customer expectations by shortening delivery times.

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Furthermore, RFID technology tracks the location and status of items across the supply chain in real time, helping companies identify products nearing expiration dates and use or sell them first. In doing so, companies achieve cost savings and prevent perishable products such as food from ending up in landfills. As a result, RFID technology becomes a critical tool for supply chain professionals to address important issues such as labor shortages, sustainability goals, and inventory tracking.

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Key Points:
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  1. Labor Shortages: 96% of supply chain organizations are concerned about labor shortages.

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  2. Sustainability Goals: 86% are concerned about their companies' ability to reach sustainability or carbon emission targets.

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  3. Inventory Tracking Issues: 40% reported that inventory tracking problems have slowed down the order picking process.

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  4. RFID Adoption: 97% stated that their organizations have either adopted RFID or plan to adopt it.

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  5. Confidence in the Future: 75% of RFID implementers feel quite or extremely confident in their ability to withstand supply chain pressures over the next two years.

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  6. Mature Implementation Expectations: 48% expect their organizations to reach mature RFID implementation within two years.

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  7. RAIN RFID Advantages: RAIN RFID, with its low-cost, battery-free, and wireless structure, increases supply chain visibility and supports workforce optimization.

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  8. Sustainability and Cost Savings: RFID enables companies to achieve cost savings and meet environmental sustainability goals through real-time tracking.

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News Link: https://www.scdigest.com/experts/2023-11-30_Farley_SC_Profs_RFID.php?cid=21126

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