What is the Role of RFID and Inventory Management Software in the Obsolescence Monitoring Process?

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RFID (Radio Frequency Identification) integrated with Software, has changed business owners in managing inventory so that they are able to monitor all stock accurately and automatically without having to physically review the inventory. RFID and software also have other roles/functions such as: Minimizing risk and recording errors. Inventory management software is also able to automatically update data and provide warning signals if there is inventory approaching obsolescence or expiration.