5 Benefits of using RFID Technology

RFID is a modern technology that can transform the way businesses operate. By using radio waves, RFID can easily identify and track objects, giving real-time information about assets and inventory.

With it, the possibilities are endless for those companies who are looking to get better management of resources and more efficient, improved processes.

Based on the latest statistics, the market for RFID technology is projected to grow at an 11.1% CAGR between 2023 and 2032, increasing from USD 15.8 billion in 2023 to USD 40.9 billion in 2031.

Let's dive into the depths of the usage of RFID and discover how it can rewrite the rules of how business operates.

EXPLORE THE MOST IMPORTANT ADVANTAGES OF IT:

Optimized Inventory Management

Efficient inventory management is a cornerstone of successful businesses. RFID technology provides real-time visibility into inventory levels and movement, streamlining stock-taking, reducing stockouts, and improving demand forecasting.

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Cost Savings and Error Reduction

RFID technology is a popular choice among many companies because of its cost-saving benefits. RFID automatically records inventory daily as products move in and out of your warehouse. By implementing it, businesses can optimize their processes and simplify workflows, reducing the need for manual labour and enhancing overall operational efficiency. This leads to lower operating costs as processes become more streamlined and resources are used more expertly.

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Improved Supply Chain Management

RFID technology can help achieve an optimized supply chain by providing visibility throughout the supply chain, from manufacturing to distribution. This means less hassle, fewer mistakes, and faster turnaround times. With RFID, businesses can improve their inventory management, reduce operational expenses, and keep their customers satisfied by delivering products on time.

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Enhanced traceability in processes

RFID tagging can track an item from its point of origin, ensuring full traceability. It can ensure that items have undergone all the necessary checks and processes before being delivered to the customer. This includes verifying product lines, like verifying that the product has been assembled correctly, and reviewed.

Real-time Data Accessibility

RFID technology provides a way to track items and products accurately and in real-time. Using unique RFID tags makes it easy to identify and monitor products, leading to more accurate and quicker data collection.

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If you use the Microsoft Dynamics NAV/Business Central ERP system, unlock the power of RFID technology with MobileNAV...

With an RFID reader and the right application, you can unlock the data contained in nearby tags and give it meaning. The software analyses the numbers and transforms them into relevant information that you can use to modify stock and create different orders.

To help you connect your RFID reader to Dynamics NAV/Business Central, we offer MobileNAV – the perfect solution to unlock the power of your data and take your business to the next level.

We've tested various RFID devices to make sure they work smoothly with MobileNAV. Our goal is to offer users a range of compatible options. This ensures you can easily use RFID technology with MobileNAV for better inventory management and efficiency.

To get to know more about this all-in-one solution, please visit www.partner.multisoft.com, or download and try MobileNAV for free from Microsoft AppSource.