Hyderabad, Andhra Pradesh -- (SBWIRE) -- 05/30/2012 -- Radio Frequency Identification (RFID) is rapidly becoming a cost-effective technology. This is in large part due to the efforts of Wal-Mart and the Department of Defense (DoD) to incorporate RFID technology into their supply chains. In 2003, with the aim of enabling pallet-level tracking of inventory, Wal-Mart and DoD followed a suit and issued the same mandate to its top 100 suppliers. This drive to incorporate RFID technology into their supply chains is motivated by the increased shipping, receiving and stocking efficiency and the decreased costs of labor, storage, and product loss that pallet-level visibility of inventory can offer.
RFID now became a tool for helping visibility, but that feature does not stand alone as a defining characteristic. The ultimate value of RFID is the knowledge it provides, which must be integrated with other valuable information in cross business communication systems. Practitioners want to know not just where their products might be but how that knowledge can be used to be more effective in their business processing and eventually to sell more products.
The real benefit will come when RFID is integrated as part of a drive for supply chain optimization, full network connectivity, and ERP-to-ERP communication that tells the business partners what the supply might be, where it is, and how it can be brought to the point of need, in quantities that match the actual demand. When it also helps in the data analysis that leads to generating new revenues, the cake will be iced. In short, the use of RFID technology is expected to grow significantly in the next five years, and it is predicted that someday RFID tags will be as pervasive as bar codes.
This publication addresses core RFID technology and solutions as well as evolving market and products. It evaluates the possibilities for developing and deploying RFID systems and applications.
RFID hardware, software, and solution vendors and related professional services companies
Outsourced RFID solutions and application providers, and RFID service bureau operators
Personnel responsible for automating Supply Chain Management (SCM), Customer Relationship Management (CRM), Manufacturing Resource Planning (MRP), Enterprise Resource Planning (ERP), Inventory Tracking, Fleet Management, Yard/Dock Management and other business processes
Healthcare management personnel responsible for tracking patients, staff personnel, equipment, inventory, and other critical resources
Retailers and personnel responsible for merchandise inventory and ordering processes, Customer Relationship Management (CRM), Merchandise tracking and fraud prevention
Companies interested in optimizing their RFID business process strategies for Tracking and Telemetry with a special focus on large scale tracking."
For further information visit http://www.reportreserve.com/report/radio-frequency-identification-rfid-challenges-and-opportunities-report-538426