RFID vs Industrial Internet of Things for Asset Management

June 10, 2021

RFID vs Industrial Internet of Things for Asset Management

When it comes to asset management, companies need to track their various assets to guarantee their availability and ensure that they’re being used efficiently. Two technologies that are often associated with asset management are Radio-Frequency Identification (RFID) and the Industrial Internet of Things (IIoT). If you're having trouble deciding which one is best for your business, don't worry - we've got your back.

RFID

RFID uses radio waves to capture information stored on a tag attached to an item. The information can include anything from a serial number to the asset's location. RFID is commonly used in industries where it's necessary to track an item's exact location, such as supply chain management, retail, and logistics.

RFID has some distinct advantages. For starters, RFID tags are relatively inexpensive and can be attached to nearly any object. Additionally, they don't require a direct line of sight to be read. For example, an RFID reader can read tags that are located behind a closed door - which can be useful in certain scenarios.

Industrial Internet of Things

The Industrial Internet of Things (IIoT) refers to the use of smart devices that are connected to the internet to monitor and manage industrial processes. IIoT enables companies to gather data from a wide range of sources in real-time, which can be used to optimize workflows, improve efficiency, and identify maintenance requirements.

IIoT is particularly beneficial in asset management because it makes it possible to monitor and manage assets remotely. In other words, companies can track their assets from anywhere in the world. Furthermore, because IIoT devices are continuously collecting data, they can provide real-time information to help companies identify potential issues before they become problems.

How do they compare?

RFID and IIoT technologies have some similarities, but they are fundamentally different. Here are a few key points of comparison:

Scalability

RFID is designed to track individual items, which makes it ideal for inventory management, but it can be challenging to scale to manage large numbers of assets effectively. On the other hand, IIoT devices can track multiple assets simultaneously, which makes it a better fit for managing large fleets of machinery.

Real-time data

The IIoT provides real-time data that can be used to analyze workflows and improve efficiency. RFID, while it can track assets in real-time, does not provide the same level of detail as IIoT technology.

Cost

The cost of RFID tags is relatively low. However, to track assets effectively, you must purchase a large number of tags, which can add up. IIoT technology requires a larger upfront investment, but it can save companies money in the long run by reducing costs associated with unexpected downtime and maintenance.

Conclusion

As you can see, both RFID and IIoT technology have their pros and cons. Which technology is better for your business depends on a variety of factors. However, one thing is clear - if you're looking for a technology that offers real-time monitoring and the ability to track assets remotely, IIoT technology is the way to go. If you're looking for a technology that's easy to use and cost-effective, RFID is the better choice. Ultimately, the best option for your business is one that meets your unique needs.

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