Strategic Applications for Radio Frequency Identification & Digital Receipt Technology

CHICAGO--(BUSINESS WIRE)---The Advanced Practices Council(R) (APC) of the Society for Information Management(SIM) has released to the public its research-based executive brief on the applications and future commercial impacts of radio frequency identification (RFID) and digital receipt technology.

Of keen interest to enterprises with critical inventory control and/or product fulfillment operations, across industries including manufacturing, retail, transportation, healthcare, and government, RF-ID offers opportunities for advanced product and supply-chain management.

The brief discusses applications, the setting of standards, and cost and implementation considerations for RF-ID, as well as benefits, applications, and strategic implications related to digital receipt technology. Some of the strategic implications highlighted in the brief include:

Process Improvements:

-- RF-ID technologies represent a common standard for data storage and retrieval that could improve collaboration and data sharing.

-- Inventories can be reduced and cost savings realized, as e-tags are used to maximize information flow in a supply chain and to minimize physical material flow.

-- Ultimately, "intelligent" products may be able to share usage information, and help change product attributes, phase out unpopular product lines, or modify transportation routes.

-- RF-ID systems must operate across the regulatory boundaries of countries and global regions to be effective.

Product Enhancements/Marketing Benefits:

-- Through digital receipts, manufacturers have access to point-of-sale data that allows them to integrate customer preferences into their product and distribution processes.

-- Information captured through digital receipt technology offers organizations opportunities such as location and personalized merchandizing.

SIM's Advanced Practices Council (APC) is the research-based forum for senior technology executives looking for leading-edge insights into leveraging IT for corporate competitive advantage. The APC's research is conducted by acclaimed, unbiased academics who have experience in working with executives to deliver practical and insightful analyses, guidance, and predictions of the future.

Established in 1968, the Society for Information Management (SIM) is the premier network for IT leaders comprised of nearly 3,000 members, including CIOs, senior IT executives, prominent academicians, consultants, and other IT leaders. SIM is a community of thought leaders sharing experiences and rich intellectual capital that can be applied, and exploring future IT direction.