Managerial implications
The key managerial implications emerged from this research
are:
. RFID as a collaborative tool for better management of a
SC is a necessity tool in today’s management modeling of
the situations.
. All managers and working groups talk about RFID and its
benefits but often not sure about its tremendous power in
industries as such as health care, food industry,
pharmaceutical, and systems with SC.
. The real belief among the experts is that customers are the
real beneficiary of this technology once it is being
implemented in the system.
. From one industry to another, the degree of RFID use
varies. As it is reported, food industry has developed good
RFID-based systems for better management making
traceability of the products easy and possible.
. Pharmaceutical industries are developing sound systems
to make the traceability of drug possible because of big
fraud often occurs in this healthy block of business.
. Effective deployment of RFID has a potential to quickly
provide accurate and reliable data that exceeds the bar
coding or manual capabilities available today. This can
have major impact, particularly in high volume and highspeed
manufacturing operations, where speed, accuracy,
and timeliness are critical for throughput and
performance.
. Lowering required inventory levels and associated
carrying cost expenses by optimizing inventory levels
and reducing safety stock.
. Manufacturers can reduce obsolete inventory write-downs
through better planning and visibility and lower inventory
shrinkage by keeping better track of goods helping to
eliminate losses and theft.
. An immediate impact of RFID is freeing up labor to
perform things and more value-added tasks.
. Improving revenue opportunities, reducing out-of-stocks
and improving promotional execution by having the right
inventory available to match demand.
. Meeting new customer mandates and regulatory
compliance.
. Improving customer experience and satisfaction by
improving timeliness, quality, and availability.