When a firm wants to monitor its inventory, order the needed stock, and track storing and shipping costs with the help of computers, it should use electronic radio frequency identification tags.
Inventory, also known as stock, refers to the goods and materials that a company keeps for the purpose of resale, production, or use. Inventory management is primarily concerned with specifying the shape and placement of stocked goods. It refers to all of the items, goods, merchandise, and materials held by a company for the purpose of reselling in the market for a profit.
Radio-frequency identification (RFID) employs electromagnetic fields to identify and track tags attached to objects. An RFID system is made up of a small radio transponder, a radio receiver, and a radio transmitter. RFID tags have an integrated circuit and an antenna that transmit data to an RFID reader (also called an interrogator). The radio waves are then converted by the reader into a more usable form of data.
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