Managing Business Velocity

Transforming Business with RFID

Abstract

Many forces have converged to create a major restructuring of the global economy with unprecedented challenges for the unprepared and opportunities for the prepared. Virtual business models, far-flung sources of supply, labor and distribution, falling trade barriers and the Internet’s 7X24 global reach have combined to give businesses the very real ability to operate in any desirable market in the world. This opens up both new possibilities and new global competitors and challenges.

Report

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Today’s longer and leaner supply chains present a new kind of fragility, visibility. The devastating impact of supply chain glitches on business performance and shareholder value has been well documented—a study by Vinod Singhal of Georgia Tech showed these glitches caused on average a 25 percent long-term loss in shareholder value (see Figure 2) over a period of six months before and after announcement of the glitch.

Proactively preventing glitches and dynamically responding to global opportunities requires building a nearly omniscient picture of the supply chain in motion. This can only be done effectively with advanced data collection technologies like radio frequency identification, or RFID. The mandate for RFID has been issued by the two largest buyers in the world: The U.S. Department of Defense and Walmart, both of whom see RFID as the key to winning by making their supply chains leaner
and more precise. The DoD is moving away from “mountains of iron” to “compete on speed, not on mass.” In addition to Walmart, other retailers are following suit. Tesco’s, Sainsbury’s, Gap, Marks & Spencer, and Target have all announced RFID requirements for suppliers or are already in RFID pilots.

In this white paper, we explore why RFID data collection systems have become so hot right now, how different industry sectors are using RFID and advanced data collection systems, and the secrets to successful implementation. We show a real-world example of how one manufacturer has been using RFID (long before all the headlines and hype) to improve performance and customer satisfaction to pull ahead of their competition.


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