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RFID-based Asset Tracking requires an infrastructure to be put in place before the whereabouts of tags may be ascertained. An asset tracking system can record the location and usage of the assets and generate various reports. Unlike traditional barcode labels, RFID tags can be read faster and have higher durability.
That system is known as "Active" RFID because it uses tags that have batteries and constantly beacon. The most popular form of Asset Tracking using RFID is "passive" RFID using ISO Standard 18000-6c. The Financial Services Technology Consortium created a standard for tracking assets at bank locations see www.FSTC.org.
RFID provides a way for organizations to identify and manage stock, tools and equipment (asset tracking), etc. without manual data entry. Manufactured products such as automobiles or garments can be tracked through the factory and through shipping to the customer.
A popular approach to tracking fixed assets uses serial numbered asset tags, which are labels often with bar codes for easy and accurate reading. The owner of the assets can take inventory with a mobile bar code reader and then produce a report. Off-the-shelf software packages for fixed asset management are marketed to businesses small and large.
When a product is in a warehouse or store, it can be tracked via its barcode and/or other tracking criteria, such as serial number, lot number or revision number.Systems for Business, Encyclopedia of Business, 2nd ed. Nowadays, inventory management software often utilizes barcode, radio-frequency identification (RFID), and/or wireless tracking technology.
RFID is synonymous with track-and-trace solutions, and has a critical role to play in supply chains. RFID is a code-carrying technology, and can be used in place of a barcode to enable non-line of sight-reading. Deployment of RFID was earlier inhibited by cost limitations but the usage is now increasing.
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