For many product suppliers, radio frequency identification is something they're required to do by their biggest customers, mostly notably Wal-Mart Stores. But Bill McBeath, managing director in the Supply Chain Risk Intelligence Group of Marsh, says RFID has value that goes well beyond the tagging of pallets and cases. For high-tech manufacturers, it can save millions of dollars by preventing downtime in factories. For automakers, the technology can help to merge chassis with the proper feeder lines during assembly. RFID can also play a critical role in temperature-controlled environments, where the slightest deviation from environmental controls can ruin product. McBeath also talks about how RFID can help companies to establish a chain of custody for complying with retailer, customer and regulatory requirements. [Run Time (Min): 11:33]
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