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The advantages of RFID:


RFID can be used in many applications. A RFID tag can be affixed to any objects / products and
used to track and manage inventory, assets, people, etc. For example, in a shop like Diamond
World - it can be affixed to any ornament items, computer equipment, packets, etc. RFID-
enabled systems help companies cut costs, improve customer service, reduce labor, increase
accuracy, and improve production throughput.


2. Some of the main benefits that RFID device can provide are:

- The solution does not require a line of sight access to be able to read tags.
- The tag can trigger security alarm systems if removed from its correct location.
- Reader and tag communication are not orientation sensitive.
- Automatic scanning and data logging is possible without human intervention
- Each item can individually be labeled.
- Tag internal data can be comprehensive, unique in parts/common in parts, and is
compatible with data processing in ERP system.
- System provides a high degree of security and product authentication - a tag is more
difficult to counterfeit than a simple barcode.

3. Technical benefits for a business firm like Diamond World:
The technical benefits of RFID create the basis for real business benefits. When theres less risk
of errors and when theres real-time information about how the asset is being used and where its
located, RFID can increase the efficiency of processes and save money. The return on investment
is the key issue when reviewing the general benefits of the system. For example the encapsulated
re-usable tags cost is typically justified when calculating the eventual cost per use of an asset
and when comparing it to the losses. The cost savings of an RFID system are often based on the
following facts:
An RFID system can increase productivity as less monitoring is needed and both goods
and information are handled more efficiently
An RFID system makes it easier to respond to new circumstances as a result of
information gained from the supply networks
Less errors, higher reliability no human intervention needed for reading the data
Improved visibility and traceability process monitoring, tracking of shipments and
assets

4. Business benefits for a business firm like Diamond World:
Use of RFID technology can increase business productivity and reduce associated costs. To
ensure that companies benefit from the advantages RFID provides it is important to understand
how to adopt this technology.
- Improved Productivity and Cost Avoidance:
Identifying items by RFID involves less work than using barcode scanning and other less
automated ways. This leads to greater process effectiveness in many tasks such as receiving and
putting away, picking and shipping goods where the time required and cost of identifying items
by RFID is substantially less than other methods.
- Decreased Cycle Time and Taking Costs Out:
RFID scanning is not a serial process, like traditional Barcode scanning, so the business can
perform identical tasks much more quickly. This means processes moving goods through a
supply chain are more efficient leading to a reduction in the need for larger inventories.
- Reduced Rework:
As RFID scanning has a greater first time pass accuracy this reduces the number of errors that
are generated and retries needed.
- Reduced Business Risk & Control of Assets:
RFID tagging enables better audit and asset control. The ability to track and trace items better
means assets can be located more easily. The opportunity for enhanced data collection leads to
increased accuracy of record keeping and improved asset maintenance. Regulatory compliance
can be achieved more effectively.

- Improved Security and Service:
Being able to validate information relating to an item enables increased security. This individual
identification contributes to more effective access control, reductions in shrinkage and other
losses and the ability to provide fast and efficient services at the point of need. Ability to
authenticate information can prevent activities like counterfeiting and fraud.
- Improved Utilization of Resources:
Information obtained by RFID scanning can be used to improve planning. Processes can be
improved, time can be saved, and assets can be utilized better.
- Increased Revenues:
By eliminating uncertainty companies will suffer less out of stock situations and obtain greater
item availability, reducing lost sales and increasing choice leading to more sales.

5. Examples of the implementation of RFID in Diamond World Inc. include:

Logistics & Tracking
- Real Time Item Location/ Item Visibility & Status
- Anti Theft/Tamper evidence
- Authentication

Payment Systems
- Road Toll
- Electronic Tickets
- Mass Transit Ticketing

Workflow Processes
- Service/Maintenance Records
- Remote Management
- Mobile Data