For a clear understanding, I’ll take an example. Let me introduce you to RFID and how it works. Not that it’s clear that RFID is the best method of asset tracking. Thus, although barcode has been around for quite some time in the market, the focus is shifting fast towards RFID based solutions since they have various advantages over traditional barcode based solutions: Manual scanning, wherein a person manually scans bar code printed on each item at every strategic point, brought in some sort of automation to the process but it has it own set of shortcomings against RFID. Read more: How uber for trucking helps to logistics business RFID vs Barcode In addition to RFID, barcode scanners are also a used for real-time tracking of asset. For large inventories, paper-based and spreadsheet tracking and management systems are out of the question. Modern asset management and tracking require the employment of latest technology. Hidden Costs: the old-school method will make you lose money owing to mistakes, typos, duplication, and slow operations.Slows down the operation: a person manually entering data is much slower than an automated system that updates the database itself.A person just needs a phone with camera or a thumb-drive to make copies. Lack of security: we all know the sort of security data written on pieces of paper and spreadsheets draw.Lack of a central customer database: Inventory managers will have a hard time getting hands on to latest inventory information owing to a lack of a central database.System is prone to human errors: Without validation of any sort, such methods of asset tracking may lead to blunders and revenue loss.High cost of staff training: Training staff, depending upon the size of your inventory, can take anywhere between a few weeks to few months.Inconsistency in data entered: missing, wrong, or duplicate data.
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