100 second reflection for Week 7
Think for 100 seconds, and summarize the key things that you learned in the class during Week 7:
RFID at Metro Case
Lecture about Information Goods Supply Chain
MIS 3537 – Spring 2017
Think for 100 seconds, and summarize the key things that you learned in the class during Week 7:
RFID at Metro Case
Lecture about Information Goods Supply Chain
To me, RFID seemed to be an obvious solution to tracking inventory. It never occurred to me that there could be different levels of depth that RFID tags could be implemented and I find this to be a critical step in figuring out how a company can pull the most value out of using it. The most significant thing that I pulled out of the lecture was that the delivery of information goods is changing as the more imbedded we become into the internet. Blockbuster lost their entire business because all of the information that they were selling was being put online by other companies for everyone to access at their will.
After sitting in class for week 7 and going over the RFID case and the lecture about Information Goods Supply Chain, I believe that RFID is the best way to track inventory. While there are some disadvantages to RFID, as explained in the RFID by Metro Group case, such as the initial high investment of capital to implement RFID, as well as connection problems and changed processes within plants, the increase in accuracy and efficiency within the warehouse is the best trade off. By implementing RFID, it will offset the amount of costs it takes to implement in a matter of months, and the increased efficiency will drastically reduce costs and increase profits for any company.
When we began learning about RFID’s in week 6 I immediately understood their impact and how they can effect the Supply Chain as well as technology as a whole. However, I did not realize the many different options you can choose when picking what RFID technology to implement until the Metro case. Metro had to decide between three different options and think about which one would benefit the company more than others. Learning about the development of information goods in the lecture was a great insight into how companys like Apple and Netlfix revolutionized the music and movies business respectively. The evolution of information goods over the years and how it is still being adapted to better effect everyone involved is something that still amazes me.
Using Metro Group as a basis for the introduction to RFID was beneficial as we were able to see the advantages, disadvantages, and the process that is associated with implementing RFID. The advantages are increased accuracy with inventory tracking and saving costs/time when performing inventory management. The disadvantages are that is can be expensive to implement and can cause IT problem within the system. RFID has helped businesses create a more successful supply chain which enhanced their profitability.
For large companies, RFID seems like the most efficient way to track inventory. This week, we talked more about the different levels of RFID. For example, it can be placed on the palates or the cases. One downside of RFID that we talked about is the big capital investment necessary to implement it. Although RFID costs a lot of money, I think the benefits of being able to track inventory accurately and efficiently will make the large investment worth it.
Through the Metro case, we learned that although RFID might seem like a no-brainer when a company try to increase efficiency, it could pose some serious harms if there is not a well-thought plan. Incorporating the technology in a large-scale can result in a lot of expenses and risks if the plan didn’t turn out as well as expected. The other half of the lecture we learned the flow of information goods and how Blockbuster was out of the market, since the flow of information have changed drastically and everyone with internet connection can have access to them, like movies they were selling. Apple and Netflix are two examples that companies have been modernizing the tradition industry.
RFID is the next step to tracking inventory. Unlike a barcode it does not take an employee to manually scan every item. although RFID will require some upfront cost the technology will pay for itself many times over in reduced labor costs. RFID is also can help reduce shrink in inventory by more accurately accounting for all the goods. I also learned about the flow of digital goods and the structure of their supply chain VS a physical supply chain. Companies must constantly adapt to new disruptive technologies in order to stay relevant. Blockbuster failed to do this and is now out of the market.
As RFID becomes an increasingly popular solution for companies managing their inventory, it is also necessary to consider all factors of the concept. For example, RFID technology comes at an expense. However, it has the ability to reduce the amount of shrinkage which would be a cost-savings for the company. It is interesting to consider RFID will be a technology increasingly prevalent in our everyday lives as well as the way that companies function. Those companies that do not adapt to technology such as RFID will likely fail.
I think that the Metro case was interesting because it showed how the more a company invested into RFID technology, the more it could extend its cost savings and supply chain efficiency. With costs constantly decreasing, it wouldn’t be out of the question for a company similar to Metro in today’s world to invest in case, or even item, tracking with RFID technology. It poses such an advantage over other methods such as bar codes that if a company doesn’t implement RFID technology they may fall behind to their competitors. Also, the way that information exchanges are changing is a product of the digital age and the internet of things. With more connected devices, more and more information is being digitized, making the transfer of information and digital goods an ever growing market opportunity.
For week 7, we looked at the use of RFID in the Metro case and the importance of the information goods supply chain. As the world becomes more dependent on the Internet, the information goods supply chain becomes more important. We learned about how Blockbuster was behind its competitors. While they were still selling physical copies of DVDs, Netflix was investing in its online streaming service, which eventually contributed to putting Blockbuster out of business. For RFID within the case, something I took away was the infrastructure needed to implement RFID. The RFID portals are very neat and require a lot of tech.
As a supply chain management major, I was aware of the advantages and disadvantages of RFID technology and how it can allow companies to improve inventory management. What sparked my interest this week was the professor’s suggestion of using RFID technology to track students’ attendance. I am accustomed to relating RFID technology to supply chain management. But, with RFID technology becoming so popular, it is very possible that our society will begin to see this technology used in many different ways in the near future.
Learning how RFID is impacting supply chain was a great learning experience. Competition is very stiff – and not using RFID technologies will cause companies to fall behind. One thing RFID can help is reducing errors in shipping and handling and also speed up the process. This help will lead to substantial improvements in business operations and customer satisfaction. Companies need to integrate RFID systems as soon as possible to achieve the cost savings available. A great example we looked at in class was Blockbuster and Netflix, where Netflix ran Blockbuster out of business
RFID was an interesting lesson because it seems like a simple technology that can be used in a variety of ways. Even though it is simple, I saw how this can be a costly technology to implement. By looking at the Metro case and calculating the pallet and case costs, it is easy to see why some companies are not adopting quite yet. However, learning about the accuracy and efficiency that RFID can provide is a larger reason that companies should invest in this technology. The benefits of RFID include more accurate inventory, tracking, and just-in-time data, which can significantly increase supplier and customer relations.
RFID technology definitely makes the supply chain process more efficient by cutting the labor cost and decrease the time of the process. RFID systems provides a better automate process in contrast of the bar-codes systems which is manually used. It is very helpful for tracking your inventory and items inside the store. With the advent of the Internet of things, the use of RFID will be more prevalent and grow beyond the supply chain indusry
In week 7, we went over the RFID case and learned how Metro Group improved their efficiency by utilizing RFID technology to track items. We also discussed some of the advantages and disadvantages of RFID technology and why the majority of companies have not used it. In the lecture, I learned how the video rental industry has evolved over the last few years. It was interesting to find out that Blockbuster had 33% of the market share in 2001 but after the introduction to video streaming services like Netflix, Blockbuster became obsolete and went out of business. Another industry that has changed is the music industry. Music streaming has become more popular than purchasing albums because you can pay a set price for a song or pay a minimal amount per month for unlimited music.
RFID case really helped me realize the high importance of technology in supply chain management. RFID allows firms to check their products in a process of shipment, to manage their inventory efficiently, and to save time in labeling products. Therefore, RFID can definitely help firms with their supply chains. However, the implementation of RFID could be expensive and there is always a question on who is going to pay for the implementation costs. So firms should really work with every sector of their supply chain before and in the process of implementation of RFID.
RFID was a really interesting topic that was talked about in the last class. This technology allows companies to verify incoming goods quick and efficiently without ever breaking open a pallet. Some companies are opposed to RFID due to the high upfront costs that are associated with it, but the efficiency and accuracy associated with it should outweight the costs more times then not. The delivery of information is constantly changing in industries due to the ever adapting environment around the internet. Blockbuster is a good example of a firm that did not adapt correctly to the changing environment, and Netflix took them over with their easy to stream service. People want to be able to access content while on the go, whereas in the past people revolved around brick and mortar businesses.
Learning about the advantages of RFID technology was very interesting. It is really an advancement of barcode scanning, supplying more useful information in shorter times, and able to store more info. It is really cool to see the advantages your business and supply chain can gain from the use of something like this. It can help keep better track of inventory, using just in time data for best information. Its a very cost effective strategy for a business to invest in, and it is always smart to stay up to date with these types of technologies.
RFID is attached to items that are intended to be tracked. Typically RFID is utilized to track the flow of inventory throughout a supply chain. A typical RFID tag consists of an electronic integrated circuit, a miniature antenna, and a substrate. There are passive RFID tags which are powered by incoming RF, and are smaller, cheaper,and have a longer life. There are active RFID tags which are battery powered and can be read 100 feet away and are more reliable for reading. There are semi-active RFID tags which transmit using ‘backscatter’ of a readers RF power, have a battery for logic, their range is like passive RFID and their reliability is like active RIFD.
This week we discussed RFID tracking the potential it has across a wide variety of industries. It seems absolutely necessary for companies that deal primarily with selling goods through shipment to adopt RFID tracking in order to cut costs. The capital it will save in terms of time and labor will be impossible for companies to ignore, if it is not already. Companies can verify exactly what items and what quantities of items go in and out of their doors with minimal effort, where as this part of shipping goods traditionally took a lot of time and labor. The “Internet of things,” as we learned this class, has increasingly more potential for businesses to incorporate into their day-to-day operations as new technology is developed and improved upon.
During class this week, we learned about the benefits of RFID use. It is amazing how much such a small piece of tehcnological equipment can transform a complicated tracking process. I found this discussion especially interesting because RFID technology is something that is used in my everyday life and the lives of so many others. I use it for a wallet tracker, a car key opener, and to track the packages that I order online. Companies would be smart to invest in RFID because it can help to streamline their entire supply chain.
In week 7, we covered RFIDs, “The internet of Things”, and the Metro Group case. I have previously heard about RFIDs, but I wasn’t exactly sure how they worked within the Supply Chain world. Learning all the ins and outs about how the RFID uses antennas, scanners, and different technologies to track inventory and shipments, was very interesting to me. It seems to me that it is a no-brainer for a company to use RFIDs in order to become much more efficient within their Supply Chain. Similarly, I knew that more and more everyday items are connecting to the internet, but it wasn’t until we discussed “The Internet of Things” that I learned how connected we really are. I found these topics very interesting and could easily apply to my everyday life.
During this week’s lecture, we mainly covered the topic of RFID (Radio Frequency Identification). We learned how RFID being used currently, and how it can be implemented in the future. RFID uses of the radio wave to identify the store information from databases. This technology can be uses in various places. In a supply chain, it is used to tracking shipments information, check warehouse inventory, and so on by read the chips or wires on the items’ tag. For businesses, the RFID definitely is a worth investment to increase work efficiency. For the last thing I want to say, I believe that RFID technology will be apply for more various field and convenient people’s life.