RFID is a wonderful technology, that has the capability of keeping tags on things both easily and quickly. It makes taking inventory a much faster and efficient task. Incredible as it may seem, surveys are showing that a big chunk of businesses that could greatly benefit from this type of technology, is simply not using it. Companies that sell clothes or auto parts are great examples of institutions that could benefit from RFID technology. But they are shying away from it. The next natural question would be, “why is this so”? As with any major corporate decision, there is no simple, single answer.
However, industry observers think that there are basically three reasons for it. One is lack of awareness, second reason would be conservative work culture and the third reason is fear of new technology. In fact, in the clothing business, the number of users of RFID is as low as 8%. Needless to say, this is abysmally low. Awareness of a product can be taken care of by more exposure and education. But what does one do when a business decides to take the conservative approach? The clothing business tends to be conservative because profit margins are paper thin. This makes it understandable why they fear using new technology. They tend to only go with a new idea if they are absolutely sure that it is a financially sound decision.
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In its early years, RFID technology was considered to be fairly expensive. This fear can be taken care of by promoting the fact that RFID has improved over the years and it has become cheaper to make and sell. However, there is a light at the end of the tunnel in the form of online retailing. As more and more people are buying from online retailers RFID technology will become imperative for the smooth running of things.
Sawyer Howitt is a project manager at Meriwether Group. Although young enough to be barely in college, he has shown to have exceptional acumen, that is beyond his years. At Meriwether, he has held several responsibilities including as a business strategy analyst for RFID Technology. He is currently attending Columbia University and majors in Entrepreneurial Finance.
Learn more about Sawyer Howitt: http://norcal.news/news/23850-sawyer-howitt-reveals-top-industries-millennial-entrepreneurs