RFID implementation increased 157% since 2008, survey finds
July 18, 2012 by Manufacturing AUTOMATION
Implementation of RFID technology has grown 157 per cent since 2008, with more than half of companies saying they are already using the technology.
The survey by CYBRA found that in 2008, only 21 per cent of companies surveyed used RFID. In 2012, 54 per cent of those surveyed are either using, piloting or in the process of implementing RFID technology.
The survey also found that 81 per cent expected a return on investment (ROI) in three years or less, up 71 per cent from the 2008 survey.
Of the respondents who claim they are already using RFID technology, 70 per cent are regular users or are in the implementation phase. The study also shows that only 19 per cent of respondents have no interest in RFID. These respondents also say typically worried about high costs and don’t see evidence of ROI.
Other highlights from the new survey include:
• Of organizations that are not yet using RFID technology, 70 per cent of respondents state that they have plans to implement RFID in the future.
• Of organizations that were either implementing RFID or evaluating the use of RFID, 74 per cent of respondents indicate that they will do it not only for EPC (Electronic Product Code) compliance, but also to improve product track and trace capabilities.
• Tracking products (67 per cent) and improved inventory management (62 per cent) remain the top two business drivers that determine RFID adoption.
• The key anticipated benefits of RFID adoption are improved inventory accuracy (42 per cent), increased distribution center efficiency (30 per cent), and improved customer service (28 per cent).