ROI Calculation for Tracking Solutions
ROI Calculation
It can be tough to compute a suitable ROI number for a tracking solution deployment such as RFID, GPS or BLE Beacons. This page hopes to elevate some of the pain by providing 2 typical scenarios based on lost assets or time wasted to find assets.
Scenario 1: Loss of Assets
Before RFID Implemention
A parts manufacturer loses 3% of finished good inventory annually. This causes a requirement to rush manufacturing and hasten the shipping process.
After RFID Implemention
A RFID Tracking System cuts down the loss of assets to 1% and eliminates requirement for an annual inventory.
There is an annual saving of over $50,000. The company can now evaluate the implementation of a tracking technology to reduce the loss of assets.
Scenario 2: Time Spent Locating Assets
Before RFID Implemention
A department spends hours locating assets, especially if they are shared among several other departments.
After RFID Implemention
A RFID Tracking System cuts down the search by 80%.
There is an annual saving of over $50,000. The company can now evaluate the implementation of a tracking technology to increase their productivity.
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