Supply Chain Visibility

Supply Chain Visibility
Feature New Record
The ability to track inventory in real time through solutions like RFID tags and advanced barcodes positions organizations to gather more detailed information about assets.
Location tracking is having a wide impact across a variety of industries and emerging as a disruptive trend moving forward. A recent study from Markets and Markets predicted that the asset management industry will rise at a compound annual growth rate of approximately 20.5 percent from the period of 2014 to 2020, generating $18.87 billion in revenues during that time. Real-time location systems, RFID functionality and broad IoT ecosystems are coming together to redefine location tracking, creating an environment in which sophisticated asset management practices are transforming a wide range of industries. Codes, including barcodes, can make the whole process much easier but it can still be quite time-consuming. Checking stock more frequently - a rolling inventory - avoids a massive annual exercise, but demands constant attention throughout the year. Radio Frequency Identification (RFID) tagging using handheld readers can offer a simple and efficient way to maintain a continuous check on inventory. See the page in this guide on using RFID for inventory control, stock security and quality management.

The GPS Tracking Device System Market is expected to grow at USD 2.53 billion by 2023, at 11.9% of CAGR between 2017 and 2023.

Source: Market Research Future

The global indoor location market size is expected to grow from USD 7.11 billion in 2017 to USD 40.99 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 42.0% during the forecast period.

Source: marketsandmarkets

The RTLS market is expected to grow from USD 1.42 billion in 2015 to USD 8.09 billion by 2022, at a CAGR of 24.5% between 2016 and 2022.

Source: Marketsandmarkets

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