RFID In Asset Management Optimizes Resources, Avoids Loss

RFID application in asset management helps optimize resources, cut costs and improve competitiveness compared to competitors in the same region. With more than 10+ years of experience in the RFID field in Vietnam, IT Nam Viet is committed to bringing customers optimal solutions at the best cost in the market.

Overview of RFID Technology in Asset Management

RFID is understood as a technology that uses radio frequency to read and write data to identify the tracked object. An RFID system consists of basic components: RFID tags, RFID card readers, RFID antennas and RFID system management software.

To better understand what RFID is as well as issues about the structure, components and operating principles of the system, you can refer to our following article: “What is RFID? System Structure and Operating Principle of RFID“.

In fact, before RFID technology was applied in tracking and managing assets of businesses and organizations, people used manual methods by counting, recording, etc. This traditional method encountered many limitations, typically: counting assets takes time and human resources costs, errors in human records, etc. These limitations will more or less lead to difficulties in searching, increasing the risk of loss and waste of resources.

Therefore, RFID technology was born and is considered a leading effective solution today to help automate processes and optimize business costs best.

Revealing Why Businesses Should Apply RFID Technology In Asset Tracking And Management?

According to leading experts, the transition from traditional methods to RFID asset management is not only a technology upgrade, it is also a strategic step to help businesses operate intelligently, optimize productivity and save costs.

RFID brings high accuracy in inventory, tracking and management of business assets

With RFID solutions, you can completely determine the location and status of assets within the coverage range of RFID readers. Of course, you can completely look up the maintenance history of equipment and company assets quickly and effectively. RFID ensures that data is updated immediately in real time, ensuring you the most comprehensive view of the business fixed asset system.

RFID helps speed up inventory and asset management

As mentioned in many previous articles, RFID allows multiple tags to be read at the same time, so you can quickly inventory assets with almost absolute accuracy.

Instead of scanning barcodes one by one, you just need to use a handheld RFID reader to scan through them, the results are displayed immediately on the management software, even for hidden RFID tags. This makes monthly and quarterly asset management simpler for businesses, freeing up employees to focus on higher-value tasks.

RFID helps to enhance security, prevent asset loss

By installing fixed RFID readers at entrances or important functional areas, the system will automatically alert if assets are moved in or out illegally. Furthermore, the movement history will be recorded in detail on the management software, thereby helping users to easily access when an incident is detected. This is one of the solutions to enhance business security, preventing the misuse of assets.

Optimize the life cycle of corporate assets

Each RFID tag contains an identifier, storing product information such as type, origin, location, area, maintenance history, etc. Based on data on operating frequency, operating time, etc., the system will automatically suggest maintenance schedules to help extend the life of the equipment, thereby optimizing the best life cycle of corporate assets.

Although the initial cost of RFID is quite high, however, in terms of long-term benefits, RFID brings significant benefits that far exceed this investment. Therefore, businesses that are in need of RFID technology in asset management can refer to and consider between efficiency and cost to make the most appropriate decision.

RFID System In Tracking, Inventory And Management Of Enterprise Assets

Accordingly, the process of tracking assets using RFID system step by step is as follows:

1. Choose the type of RFID tag attached to each asset that needs to be tracked and managed, which can be RFID labels, hard plastic cards, etc. Each RFID tag will be attached with a unique identification code, containing relevant information about the asset.
2. Use a fixed RFID reader or a handheld RFID scanner to scan radio waves. When the asset with the RFID tag enters the coverage area, the tag will respond with a signal containing its identification code.
3. Data from the RFID tag collected from the reader will be transmitted to the central software, the software will compare the identification code with the database, display detailed information about the asset, and create customized reports according to user requirements.

Based on the collected information, users can perform necessary activities such as planning asset maintenance, investigating lost assets, etc.

Depending on the usage needs and asset types, users need to choose the appropriate card type with the corresponding frequency band. Regarding this issue, readers can refer to the following article for more details: “Overview of RFID Frequency – How to Choose the Right RFID Frequency for Your Business“.

In fact, for most business asset management applications, dual-band UHF RFID tags are the optimal choice with the ability to read far and in bulk, optimized for inventory and asset tracking.

RFID Application in Multi-Industry Asset Management

Currently, RFID technology is widely applied in most industries, typically RFID in libraries, RFID in warehouse management, RFID in transportation, RFID in healthcare, RFID in livestock farming, etc.

RFID in asset management is used in many fields:

• RFID asset management in industrial production: management of tools, machinery, measuring equipment, spare parts, finished products of production lines, etc. automation, significantly reducing machine downtime.
• RFID manages medical assets, tracks and controls the status of high-value machinery, ensures equipment is always available when needed, manages inspection schedules and sterilization processes, etc.
• RFID manages warehouse assets, manages shelves, containers, tracks inventory with high accuracy, speeds up order processing, import and export, etc.
• RFID manages assets in the retail industry, effectively prevents theft at the point of sale and entrances.
• RFID manages office assets such as projectors, photocopiers, furniture, tracks important records and documents, etc.

Factors to Consider When Iploying RFID Systems in Asset Management

Deploying an RFID system is not simple, requires careful preparation and a detailed plan. Below are the factors you need to consider when implementing an RFID project to manage business assets:

• Clearly define the project’s goals and scope, the number of assets that need to be tracked, the coverage area, etc. This will be the basis for designing an RFID solution that is more effective.
• Survey the actual operating environment to see if there are any liquids or metals present, this will help you choose the type of card and determine the appropriate reader installation location.
• It is necessary to ensure that RFID tags and RFID labels are optimally attached to assets, not obscured too much, and mounted in a position with the best readability.
• Consider and choose the appropriate RFID reader, optimize the reading area, compatible installation location, etc.
• Prioritize choosing management software that meets the requirements for asset data management functions, location tracking, the ability to integrate with the enterprise management systems in use, ensure data is synchronized and connected between departments.
• Focus on training staff on how to use RFID cards.
• RFID investment, of course, the initial cost may be higher than other methods, but in the long run, this is a “worth the money” technology that businesses should choose.
• Businesses need to choose a reputable RFID implementation partner with many years of experience, 24/7 technical support, responsiveness in handling system problems, etc. IT Nam Viet will be a reputable unit that you should “choose the face to trust” in implementing RFID asset management today.

IT Nam Viet – Trusted Partner in Comprehensive RFID Asset Management Solutions

As mentioned above, choosing the right partner to deploy RFID asset management is a decisive factor for the success of the project. As a leading RFID technology provider in Vietnam, IT Nam Viet is confident in bringing you the difference:

• We are not just selling, more than that, we bring comprehensive solutions to businesses. IT Nam Viet has more than 10+ years of experience, having implemented hundreds of large and small RFID projects, we clearly understand the specific challenges of each industry, therefore, we advise you on the optimal technology.
• All stages from survey, consultation to design, project implementation, … are meticulously and carefully performed, meeting the right usage needs and effectively balancing the investment budget for customers.
• With IT Nam Viet, quality is the core, all RFID devices and RFID software at IT Nam Viet are genuine, with clear warranty policies, fast, dedicated and thoughtful technical support services.

RFID asset management is the foundation for sustainable development of businesses, large or small, automating processes, increasing accuracy and significantly reducing operating costs. RFID implementation can be complicated, so do not hesitate to contact IT Nam Viet via Hotline 0962 888 179 for quick support!

Lê Nam Việt

My name is Le Nam Viet, currently FOUNDER & CEO of Nam Viet IT Company, I graduated from Ho Chi Minh Polytechnic University. I have more than 3 years of experience providing RFID chip technology solutions, RFID scanners, barcode labels and barcode readers. It’s a pleasure to share my knowledge with readers.