RFID technology is on the growth path


34 percent of organizations are using, piloting, or
already in the process of implementing RFID technology. This is a 21 percent
increase over a previous RFID survey conducted by CYBRA
in 2008.


Of organizations (regardless of their industry) that were
either implementing RFID or evaluating the use of RFID, 80 percent of
respondents agree that they will do it not only for EPC (Electronic Product
Code) compliance, but because they realize they will maximize their profits.


Improved Inventory Accuracy (60 percent) and EPC
Compliance (55 percent) remain the top two business drivers that determine RFID
adoption. Of those who cited EPC compliance as a driver of RFID adoption, (24
percent) also cited item level tagging as a current initiative.


The top key anticipated benefits of RFID adoption are
improved inventory accuracy (29 percent), increased profits (26 percent), and
overall increase in efficiency (24 percent).


The payback period, or ROI, of anticipated RFID
investment was less than two years (44 percent). Respondents assert that the
reason for this time frame is because RFID can reduce labor costs; software,
tags, and hardware are now less expensive; and inventory accuracy can be
greatly improved.


Only 8 percent of respondents answered that they will not
be using RFID at all. These respondents state that their reasons are that they
are worried about high costs and that there isn’t enough evidence of ROI. This
is down from 2008, where 15 percent of respondents answered that they are not
using RFID, and will not be using RFID in the future.


By Telecomlead.com Team
[email protected]