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How RFID Technology can enhance your Asset Management Program

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RFID technology enables the automated gathering and sending of asset information – including equipment location, meter readings, maintenance status, and much more – without a person needing direct line of sight or contact with that asset. Once the RFID reader gathers data, the information is passed to the organization’s EAM/CMMS application . As a result, the system may trigger an alert, release a work order, update inventory, conduct inspections, create an invoice, locate an asset, etc.

Radio-frequency identification can be a powerful tool in enterprise asset management (EAM/CMMS). Not only does RFID provide a fast, accurate method of obtaining this valuable asset tracking information, but it helps asset managers:

• improve productivity
• reduce costs by implementing a need-based maintenance schedule rather than an arbitrary calendar-based schedule
• increase revenue by accurately valuing assets being sold
• increase equipment longevity by identifying usage patterns
  

This paper includes:

• the basic description of RFID technology components and how they work
• a comparison between using RFID and barcoding for asset management.
• real-life examples of how RFID technology is being used by enterprising organizations today to gain significant time savings and enable better asset and maintenance management.