What is RFID?
Radio Frequency Identification (RFID) is the non-contact wireless RFID reader or data transfer using radio frequency waves. An RFID reader, RFID tags, and antennas are typically included in RFID systems.
RFID facts and frequently asked questions
Return on investment (ROI)
If and when the organization will see a return on its investment are two of the most crucial issues to answer when contemplating purchasing and deploying any new system. Before introducing a new system, fixed costs, recurrent expenses, and the cost of switching in terms of labor costs must all be considered.
Both application and cost feasibility should be evaluated before adopting an Radio Frequency Identification system.
The process of establishing if an application is acceptable for use with Radio Frequency Identification is known as application feasibility. Radio Frequency Identification, like any other technology, has limits. Environmental limits, read range limitations, and asset material composition are just a few of the factors that might have a significant impact on the effectiveness of an RFID system in a given application.
As a starting point, the Application Feasibility process should include scoping the project and its environment, followed by deciding whether Radio Frequency Identification (or another technology) is the best fit for the application.
Cost feasibility relates to determining whether or not adopting an Radio Frequency Identification system is financially feasible. Cost feasibility includes not only determining if a return on investment is viable but also working with existing and projected data to develop an expected return on investment timetable.
RFID injectable transponders or other Radio Frequency Identification systems are not cheap. They require an initial expenditure for testing and working with various types of equipment and tags (which could be a sunk cost if the technology fails). The deployment costs begin after the testing phase (Read more about Fixed vs. Recurring Costs below). The timescale for getting a return on investment can only begin after a system has been built and is running correctly.
Recurring or fixed costs
Grouping costs by whether they are fixed (initial) or recurrent will help to get a more realistic picture of a system’s estimated annual costs and return on investment.
The purpose of this blog is to keep you informed about the advances in the Radio Frequency Identification sector like RFID smart reader and others. We want to create original content covering a wide range of topics for all levels of RFID experience, whether you’re an industry veteran or a newcomer to the RFD field.
Read More: RFID In Transforming Livestock Management.