The Value of RFID: Benefits vs Costs

RFID technology presents a great potential for creating competitive advantage. By automating and simplifying data collection, it lets users more accurately track assets and monitor key indicators, which in turn gives greater visibility to the operations. However, the benefits received from this technology will be determined by how well it is integrated with the business processes and overall information flow. Because of the fact that the decision to deploy RFID technology in an enterprise is a business decision instead of a technology decision, cost-benefit analysis is a key component of this decision. If an RFID deployment cannot be justified in terms of its economic value to the company, it is not likely to help the company; and consequently, it is not likely to remain a viable deployment over the long term. The Value of RFID describes the business value of RFID and explains the costs and benefits of this technology comprehensively. Different investment evaluation models are proposed to use in various application areas. Techniques to guide the selection of appropriate implementation levels and to handle uncertainty and risk in RFID are explained. Written for researchers, undergraduate and graduate students, and lecturers working in the field of RFID and supply chain management, evaluation practices for RFID investment for different application areas are discussed in detail. The book also guides managers in making accurate decisions on RFID investment in order to maximize the return.