1. Why is asset management a topic which deserves more attention today?
Asset management, and specifically tracking RTP in the supply chain, is of vital importance. Sustainability is a growing concern, and the more we have asset traceability, the more opportunities we have to use reusable containers, the more efficient the supply chains are and, of course, the more sustainable the business solutions are.
Clearly returnable assets exist in every sector but food retail and manufacturing industries are particularly prominent. In the automotive sector, we know that returnable assets can range from a few dollars to thousands of dollars. Especially the very expensive assets are designed to hold a specific parts. Even the material inside in the RTP to protect the items, the dunnage as it's called, is a valuable asset. This is just one of many reasons why businesses should care about where their returnable assets are.
2. If the specific RTP which are needed cannot be found, what is the alternative?
First of all, nothing can be transported through the logistics chain without appropriate packaging. If you don't have the right RTPs, the only alternative is to use temporary packaging. Not only is temporary packaging more expensive per trip than reusable packaging, it also has a greater risk of damaging the product, is more difficult to handle and is less efficient for transport on vehicles because boxes are often not easily stackable. So there are many reasons why you wouldn't want to resort to temporary packaging. So, it's crucial that the right packaging is in the right place at the right time to transport products.
3. Is there a difference between asset management 10 years ago and today?
For sure. Today, there's a lot more pressure to get the right product to the right store or the right place at the right time.
We have much more complex supply chains today, meaning that assets like RTPs can be required by a wide variety of organizations within supply chain ecosystems. There are more supply chains in total, which can make the management of assets far more complicated. Some assets are in open loops and some in closed loops, and that added complexity means that these assets and supply chains need to be tracked with a higher level of visibility.
Another difference is that now, of course, we have a lot more technology which can support supply chains, not just RAIN RFID, which is the key technology that I'm particularly interested in, but also all of the software solutions and the connectivity which enables the transfer of data to make sure that the visibility we get from tagging is understood properly.
4. Why is connectivity such an important game changer?
Better connectivity allows different supply chain locations and companies which aren't necessarily in the middle of highly populated areas to be connected to anywhere in the world. Whether the business is a farm or a fishery or whatever – today, this does not make a difference. Everyone is able to be connected to the system so that both the packaging itself and the product in the returnable packaging can be tracked throughout the supply chain. That wasn't as feasible 10 or 15 years ago as it is today because the connectivity wasn't there.
5. How difficult is it for companies starting to integrate RAIN RFID technology to achieve optimized asset tracking?
There have been a few obstacles. Whilst some assets cost thousands of dollars, the overwhelming majority only cost a few dollars. Pallets can cost between six and 10 dollars or maybe 10 euros, and there is a similar price for plastic boxes at the low end. In light of these lowpriced assets, RAIN RFID has in the past been considered prohibitively expensive. But RAIN RFID has become much more cost effective over time.
In fact, it has become the preferred technology for tracking these types of assets. One of the big challenges when introducing asset tracking solutions is that the items that are already in the field must be found first to allow them to be tagged. This is a necessary painful step, however, once that big process is overcome and the assets are retrofitted, the efficiency of all the assets in the asset pool starts to stack up.
6. What are the main reasons business decide to implement a RAIN RFID system?
It is quite simple: if you don't know where your assets are, you can't move parts and products easily or efficiently. So understanding the status of assets within the pool that you have is key to helping to ensure the right part gets to the right place, but also to make sure that you're using the asset pool efficiently, for example, to reduce dwell time and improve usability and to determine how often a particular asset is being used. Asset tracking is also about making sure that we know where the product is. Visibility of products within the asset is the ultimate goal of using RAIN RFID.
7. What differentiates RAIN RFID from other tracking technologies?
RAIN RFID is a passive technology, meaning that no additional power source is required for the tagged items, so no need to recall the assets from the field when batteries need replacing. There's a long read range of multiple meters and unlike optical systems, the RAIN RFID readers do not need to be able to see the tag.
Therefore, RAIN technology allows faster, more efficient and more accurate operations at receipt, dispatch, inventory and all other points of the supply chain. Also important to understand that NXP's UCODE ICs are completely standards- based. This means that anyone in the supply chain can read and track these items through their own facilities using any RAIN RFID reader, special proprietary equipment is not required.