The purpose of the research is to study the benefits and potential problems of using Radio Frequency Identification Devices (RFID) in the warehouse management and inventory supplychain management. Methodology. In the process of writing this article a few various types of the observation, timing, motional, inventory, and historical methods (describing present time limitations of the current inventory tracking system compare to the benefits and obstacles of the proposed new generation inventory management system) were used. To support our conclusion, we used data from the sampling research conducting on the premises of six distribution centers. Generalized results of this study helped us to create a comparison between deployment of the system with the use of just RFID tags, just barcodes, and a hybrid technology, were both types of the inventory markings were incorporated. Results. As it was predicted even before the research begins, the result of the study proved that use of the RFID technology significantly improved reliability of the inventory system by reducing number of out-ofstock (OOS) items, improved speed of the data collection and reduce amount and time of the manual work. It was also determined that RFID technology will help companies to better manage day-to-day inventory operations. The overall results suggested that use of the RFID technology will help companies to reduce fixed and variable costs associated with the daily operation of the inventory management system. However, it was also found that RFID system is not prone to the problems related to the breakage of the equipment and tags themselves. It is also worth to take into account a cost of RFID tags compares to the barcodes or two-dimensional barcodes. If a medium size company will decide to switch to the RFID technology completely, the cost of the switch might not overweight the saving the company will have. In this case a possible solution might be two-dimensional barcodes. Practical meaning. We hope that results of the study, our observations, and comments will help businesses to evaluate deployment of the RFID technology better, understand some unrecognized pro and cons of it and find possible ways to improve on the current systems by using advantages of multiple inventory solutions. Prospects for further research. Consideration should be given to a possible research of the security of the RFID technology, safety of the protocols it uses to collect and transmit data, and, finally, a possibility of the external intrusion and malicious data manipulations and the ways to prevent it.
Engineering laboratory inventory management system using cloud and RFID technology: Conceptual approach in KDU University College
