RFID in Supply Chain Management

According to IDTechEx, the entire RFID market is valued at $5.29 billion worldwide in 2008. This value includes tags, readers, softwares and all other forms related to the system. One major sector that is benefiting from RFID is the transportation and logistic sector. Definitely, RFID will revolutionise and change the way of Supply Chain being managed in the future. Check out this video for more information.

Supply Chain Concept

Supply Chain Management (SCM) as defined by Tom McGuffog is “Maximising added value and reducing total cost across the entire trading process through focusing on speed and certainty of response to the market.”