One industry for whom advanced Inventory Management Systems is a requirement rather than a hope is the pharmaceutical industry. Regulation of pharmaceutical goods requires a higher level of product traceability than most others; therefore they have been among the first to invest heavily in the latest technologies in IMS, such as RFID. This is especially important in this industry, according to NGP (http://www.ngpharma.com/article/The-Latest-RFID-Solutions-to-Protect-the-Supply-Chain/) because of the prevalence of counterfeit drugs and drug thefts.
One technology promoted in the attached article combines RFID and anti-theft (UHF antenna) on one label. This is would help reduce shrink (theft and loss) and certainly has potential opportunities far beyond this industry. It also highlights how innovations arising from one industry’s Inventory Management Systems can offer routes of change for others to consider.
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