Electronic asset tracking with radio frequency identification (RFID) is now the industry standard for the military, aerospace and retail markets. Generally, the method of storing information on the RFID tag is customized for each market. While the retail industry relies on a 96-bit electronic product code (EPC) number that acts like a unique electronic barcode, other industries require more memory storage capabilities.
For situations where an asset does not have guaranteed access to a network or does not want to share information across organizations, high memory tags provide a compelling value proposition. Manufacturers can get visibility into production demands and reduce parts inventory. Suppliers could improve manufacturing efficiencies and verify the authenticity of their parts to fight counterfeiting. Airlines and maintenance companies could make MRO operations, largely paper-based, more efficient so spare parts could be located more quickly, reducing flight delays and cancellations, and potentially saving hundreds of millions of dollars each year.