RFID: The Billion-Dollar Savings Plan

A study done by Hewlett-Packard last year described a vision for the RFID-enabled supply chain, starting with a unique RFID tag applied to each production unit during manufacturing. This tagging will give everyone in the supply chain instant visibility, without the current process of bar code scanning and manual verification. This will enable retailers to track products in real time through the distribution channel, receive them into inventory, and automatically send electronic payments to the manufacturer -- all without being touched by a human. Eliminating costly human intervention will save these companies billions in inventory and reduce errors, savings that can then be passed on to consumers through lower prices or shareholders in the form of higher margins. Source: Fool.com