Business Technology Management Essay Example | Topics and Well Written Essays - 500 words

Business Technology Management - Essay Example Other RFID applications include animals and vehicles tracking, wrist and ankle band to provide security for the infants. Many RFID applications are yet to be discovered. In the future, RFID will benefit most industries and government agencies (Hunt et.al, 2007) RFID is the most efficient technology in which many industries have benefited from. It is cost effective, and Wal-mart and Department of Defense has incorporated it into their supply chains. The reason why it is used variedly is due to motivation from shipping, receiving and stocking efficiency, which is increasing. RFID decrease cost of labor and storage. It also reduces the product loss that can be offered by pallet level inventory of visibility. RFID is beneficial though a number of issues have hindered its growth. Failure to organize the RIFD into common standard of technology, lack of hard schedule rollout and economy of scale for RIFD tags has hindered the growth in the industry RFID was perceived very expensive. However, an increase in usage has made it effective in terms of cost. RFID have several advantages, which benefit most companies. It can code every individual RIFD uniquely. Adding data is possible. It also possesses reading possibilities, which are advanced. The companies should use RFID since it can increase distribution and sale productivity. RFID can reduce out of stock, counterfeiting, shrinkage, errors in supply chain. It improves promotional execution and management of inventories. It helps in tracking and managing capital asset and make receiving of accounts very efficient. RFID increase visibility and information sharing within the company and among members of supply of supply chain. It also increases access to real time information, which facilitates fast growth in the companies (Botha et.al, 2008) There is a need for companies to use the RFID. It yields very many benefits though companies might face some disadvantages. Continuous