Rfid risk management Backend Management System. well. By combining RFID access control with the asset management system, companies can monitor which assets enter or leave a specific area within a given timeframe, ensuring the safety of critical comprehensive risk management: 3 Risk Management Team Project Sponsor: Tom Becker (Manager of Capital Planning) o Role: Oversees the overall risk management strategy, ensuring that it aligns with Murphy Stores' financial and operational goals. The application of RFID technology in asset management helps companies track and manage equipment and inventory in real-time. Modern supply chain management increasingly depends on RFID devices to enhance visibility, automate inventory tracking, and verify shipments in real time. Dec 1, 2023 · The authors used RFID technology to monitor the pledges for financial risk management in supply chains. Recent events such as the BP Deepwater Horizon disaster in the Gulf of Mexico have further brought to light the presence and relevance of such regulations. in Electronics, Osmania University, 1986 The discussion on RFID s risk management capabilities considers RFID as a source of advantages for firms that adopt the technology. Feb 21, 2025 · How RFID Works in Inventory Management. Risk Management: Integration of a passive UHF-RFID system in medical environment information, tracking logs, and key management information associated with the RFID tag s. The project team should have good risk management skills to deal with various types of problems and issues that may arise during the implementation process. These tags contain electronically stored information, […] The text discusses the growing interest in RFID and other auto-identification technologies, particularly for risk avoidance, corporate accountability in global logistics, and trade. GUIDELINES FOR SECURING RFID SYSTEMS iii Acknowledgments . 2. 42 The traditional approach of risk management is mostly centred upon internal auditing exercise and internal control of organisations and companies. 5. The system uses the RFID reader to scan the RFID tags on items, transmitting the stored information to the reader. For more information, v In the modern insurance industry,risk management and asset assessment are critical processes. in Management of Technology, Massachusetts Institute of Technology, 2004 M. RFID tags and scanners can potentially improve product and materials handling inside and outside the warehouse environment, with applications ranging from inventory management to automation. Using software or cloud-based platforms, administrators can assign access permissions, review access logs, monitor door lock status in real-time, and perform remote management. While “inventory control” and “inventory management” are often used interchangeably, they aren’t the same thing. Use of RFID for Monitoring and Managing Vehicle Conditions: RFID systems monitor vehicle health and track maintenance needs, allowing for timely interventions and reducing the risk of breakdowns. Financial Supply Chain Dynamics -Operational Risk Management and RFID Technologies by Harry Reddy S. Environmental factors are the most common cause of RFID interference problems. Finally, RFID risk management methods for different kinds of risks are provided. Our expertise ranges across various industries, and we take pride in our ability to help clients gain greater efficiency, safety, and customer satisfaction. This method cuts down on mistakes and keeps stock levels correct. Simultaneous scanning: RFID can read multiple tags at once, and barcodes are scanned one at a time. RFID Security Guidelines • Software Assessment Management Standards and Guidelines • Supply Chain Risk Management • Security Content Automation Protocol (SCAP) Standards and Guidelines • Security Systems Engineering • ABCs of Conformity Assessment • Conformity Assessment Considerations for Federal Agencies Jun 1, 2007 · Hence, companies implementing RFID in their logistical processes would be well advised to put more emphasis on consumer benefits of technical artefacts as well as risk communications than they do today. RFID Security in Supply Chain Management. See how corrections leaders go further with RFID. The simplest way is to use a modern RFID system that supports encryption technology. Keywords: Clinical Risk Management, Patient Safety, Radio Frequency Identification (RFID) 1. Modern RFID door lock systems support a range of management tools to meet the needs of homes, offices, and large-scale facilities. REASON FOR ISSUE: Reissue handbook to provide policy and procedural guidance on the VA Risk Management Framework (RMF) process. At its core, RFID systems use electromagnetic fields to automatically identify and track tags attached to objects. It also includes a section on the project organization structure and risk management procedure, describing the risk identification, analysis, and RFID asset management ensures that routine maintenance is never missed, leading to improved equipment reliability, extended lifecycles, and reduced downtime, ultimately resulting in significant cost savings and operational efficiency. Case Study: XERAFY XERAFY and its partners are collaborating to provide custom solutions for the petroleum industry for asset tracking, quality control, and Apr 1, 2009 · The following approaches, documented in risk management literature, apply to RFID as . Both findings are still waiting to be translated into risk management strategies by RFID vendors and users. RFID readers always send requests to the tags to send back its identity information. The authors, Tom Karygiannis of NIST, and Bernard Eydt, Greg Barber, Lynn Bunn, and Ted Phillips of Booz Allen Hamilton, wish to thank Steven Fick, Rick Korchak, Kate Remley, Jeff Guerrieri, Dylan Financial Supply Chain Dynamics -Operational Risk Management and RFID Technologies by Harry Reddy S. The encryption scheme makes it so that the key cannot simply be copied into a cloned card. Professional Risk & Asset Management offers innovative RFID solutions. ) Jun 17, 2024 · Table of Contents Understanding RFID Technology RFID stands for Radio Frequency Identification. Kim et al. Improved Inventory Accuracy: RFID significantly enhances the accuracy of your inventory data, reducing the risk of errors and discrepancies. Reissues VA Handbook 6500 to align with VA policy in VA Directive 6500, VA Cybersecurity Program. It uses radio waves to read data from tags on products. Jan 14, 2023 · RFID chips can be a great asset, but they also come with a number of potential risks and dangers. However, the unprecedented level of supply chain visibility that is possible by the use of RFID can also be a source of risk. In addition, RFID tags could be deployed in potentially high-risk situations such as a hospital staff member working alone with a patient in an isolated area of the healthcare facility. in Electronics, Osmania University, 1986 Feb 21, 2025 · How RFID Works in Inventory Management. Actual Cases of Using RFID for Inventory Management in Different Industries. RFID for Risk Management and Safety Inspections in Oil and Gas Introduction The oil and gas industry now faces its strongest set of challenges in terms of risk and compliance regulations. This tech involves radio waves to read, capture, and even track data stored on a tag hitched to an object. Prevention, early detection and response, a nd risk transfer are suitable means to deal . Page 2 Risk Management Plan Template [Insert appropriate Disclaimer(s): reinvestment or market development programs, the company's weighted average cost of capital was used, with a variable premium of 2% to 4% added for high-risk projects or growth initiatives. INTRODUCTION Financial Supply Chain Dynamics -Operational Risk Management and RFID Technologies by Harry Reddy S. risk-management | GUARDIAN RFID In this paper, we integrate technology risk, IT risk and RFID risk, develop a RFID risk factor framework with analogy method, and find out the relationship between RFID uncertainty and RFID risk. Apr 6, 2007 · It provides practical, real-world advice on how to initiate, design, implement and operate RFID systems in a manner that mitigates security and privacy risks. Here are some actual cases of using RFID for inventory management in different sectors: Retail Industry Jan 1, 2020 · The RFID system is integrated with HIS for increase the workflow efficiency by reduction the waiting time patient. In the outbreaks of SARS in Hong Kong and MERS in South Korea, by the time these previously unknown deadly diseases had been identified and some patients were tested positive for infection, these patients had already been pathogen carriers for a certain May 27, 2025 · RFID works best when paired with a powerful analytics platform such as Agilence Analytics that can turn item-level data into actionable insights. Zappia et al. Once the reader reads information sent by the tag, it verifies it with the data stored in a backend server. The document provides a risk management plan template for an RFID implementation project at Murphy Stores capital stores. Jun 15, 2011 · As shown in Section 2. It enables businesses to detect potential vulnerabilities, assess risks, and implement suitable mitigation measures in place. Traditional methods rely on manual inspections,document records,and historical data Jan 1, 2013 · As the standards of RFID technology are not yet established, a certain degree of risk exists when the technology is deployed in an organization. , 2012), the influence of top management team (TMT) characteristics on the link between mandated RFID and firm risk remains unclear. In the same vein, “smart shelves” know how many and which SKUs they carry and which are most popular with shoppers. the project GUARDIAN RFID is the nationally endorsed RFID inmate management, inmate tracking, and guard tour leader. Subjective Scoring Method is adopted to assess RFID risk level. S. SUMMARY OF CONTENTS/MAJOR . Durability: RFID tags are more resistant to environmental factors than printed barcodes. Inventory Management. Case Study: XERAFY XERAFY and its partners are collaborating to provide custom solutions for the petroleum industry for asset tracking, quality control, and Mar 5, 2024 · RFID Risk Management. M. There are security mechanisms that can help mitigate the risk associated with using RFID technology to control physical access. Oct 22, 2024 · Read range: RFID can read tags from a distance, while barcodes need line-of-sight scanning. 1, RFID application that is specific to the area of risk management has not yet been explored. It includes an introduction outlining the purpose and background of the risk management plan, project, and parent organization. Unfortunately, most of the RFID tags do not have a way to discriminate between a request sent by a valid RFID read and a fake RFID reader. 4 RFID Project - Risk Management Team Assignment Using knowledge and tools gained from the Knowledge Management assignment, complete the following. Major functionalities Report of person-to-person physical contacts. The document also provides background information on RFID applications, standards, and system components to assist in the understanding of RFID security risks and controls. Organizations that leverage RFID technology stand to gain a significant advantage in an environment characterized by demand variability, supplier reliability concerns, environmental factors, regulatory compliance, market competition, security threats Apr 6, 2007 · This publication seeks to assist organizations in understanding the risks of RFID technology and security measures to mitigate those risks. Dec 4, 2021 · <Project Name> Version: Error! Unknown document property name. 4 days ago · Why RFID Technology Is Reshaping Industries In 2025, RFID (Radio Frequency Identification) technology is transforming industries by enabling faster tracking, real-time inventory insights, and automation across supply chains. Tom Beusch with Miles Technologies talks about risk management in business, and how to increase data protection using RFID technology. By capturing and analyzing the transmitted data, attackers can gain access to sensitive information or track the movements of tagged items without detection. (2010) Risk management: Prevent adverse events promptly detecting potentially dangerous conditions and obtaining a more comprehensive vision of the patient status. The document also provides background information on RFID applications, standards, and system Apr 21, 2025 · Employing RFID-blocking sleeves or containers can prevent unauthorized scans of RFID cards and smart cards. Jun 14, 2016 · Explore how RFID is used for loss prevention, inventory management & customer experience; Automotive Manufacturing Learn about automating the Automotive Supply Chain to create end-to-end transparency; Aerospace & Defense Learn about parts tracking and supply chain management in a highly regulated industry 274 N. Data capacity: RFID tags can store more information than barcodes. Using this device can improve the patient safety to a considerable extent and thus improve the quality of healthcare. In case your supply chain relies on RFID technology to keep track of assets, a vulnerable implementation can lead to the risk of attackers manipulating the administration of your assets through cloning, replaying, relaying, brute forcing, and backend attacks. It can also be a useful tool for clinical risk management. Ismail A strong risk management culture commences with these levels of risk processes: risk identification, risk analysis, risk profiling, risk mitigation, risk control and risk scorecard. Apr 1, 2019 · Moreover, although some researchers has suggested top management background is an important success factor for the operations and performance of RFID (Gino and Pisano, 2008, Ngai et al. Real-Time Tracking: RFID enables real-time tracking of assets and inventory, providing you with greater visibility and control. Risk Management: By offering visibility into the supply chain, traceability enhances risk management capabilities. Mutual authentication between the tag-reader, reader-cloud server, user-reader, and the user-cloud server ensures the 4 days ago · Inventory Control vs. It also helps keep inventory control more efficient and saves time on manual checks. (2014) Patient traceability and evaluation Oct 17, 2023 · Eavesdropping is a significant security risk associated with RFID technology, where unauthorized individuals intercept and monitor the communication between RFID tags and readers. in Electronics, Osmania University, 1986 Financial Supply Chain Dynamics -Operational Risk Management and RFID Technologies by Harry Reddy S. Activities Activity 1: Refer to the "Plan Risk Management" process in the PMBOK® and discuss within your project team. There are various areas in which RFID technology has been implemented, including the following significant applications. It provides practical, real-world advice on how to initiate, design, implement and operate RFID systems in a manner that mitigates security and privacy risks. The literature has identified a number of concerns about this high degree of RFID-enabled Mar 13, 2025 · RFID provides logistics managers with multiple ways to track and manage products and assets in the supply chain. RFID technology has been widely utilized across various industries, helping companies improve the efficiency and accuracy of inventory management. It highlights the need for a digital data trail and the potential benefits of RFID in mitigating risks, protecting intellectual property, ensuring product quality May 17, 2020 · The increased granularity of RFID-based inventory management results in further improved inventory management systems and better customer experience. As the global RFID market grows beyond $25 billion, businesses across manufacturing, logistics, healthcare, retail, and outdoor asset management are leveraging RFID RFID for Risk Management and Safety Inspections in Oil and Gas Introduction The oil and gas industry now faces its strongest set of challenges in terms of GUARDIAN RFID is the nationally endorsed RFID inmate management, inmate tracking, and guard tour leader. Revision Date: Error! Unknown document property name. in Computer Science, Central University of Hyderabad, 1988 B. While there are some benefits of using RFID tags for inventory management, the technology also comes with several disadvantages that hinder usability and accuracy. Authors in [24] integrated Blockchain with RFID to create a transparent and secure food supply chain. A patients was wearing a wristband which has an active RFID tag embedded. Think of it this way: inventory management is the big-picture strategy, while inventory control is how you put that strategy into action. Enhanced Route Optimization Based on RFID Data: RFID technology provides real-time data on vehicle location and conditions, which helps optimize 1. Hence, any related case studies that could highlight the potential use of RFID in risk management were searched from newspaper, magazine, and journal articles. Below, RFID’s three risk management capabilities are discussed in turn. Compatibility issues and how to combine with other technologies (such as blockchain, AI, etc. in Electronics, Osmania University, 1986 Additionally, seamlessly connecting RFID technology with the bank’s back-end systems (for example, risk management and data analysis systems) represents a core challenge of technology integration. It is critical for an RFID application to perf orm data collection, data management, and data analysis accurately and efficiently. RFID makes it possible to track items in real-time in inventory management systems. Acts as the main liaison with the capital committee, ensuring alignment with executive decisions. Without the ability to analyze RFID data effectively, you risk missing the full value of your investment. The authors, Tom Karygiannis of NIST, and Bernard Eydt, Greg Barber, Lynn Bunn, and Ted Phillips of Booz Allen Hamilton, wish to thank Steven Fick, Rick Korchak, Kate Remley, Jeff Guerrieri, Dylan 4. Jan 1, 2022 · A previous study mentioned a secure and efficient end to end authentication protocol to mitigate security risk in the inventory management system, especially in RFID technology and information flow through the internet [62]. As the world’s supply chain landscape continues to shift, the importance of RFID technology in risk management cannot be emphasized enough. Asset Management System. GUARDIAN RFID is the nationally endorsed RFID inmate management, inmate tracking, and guard tour leader. The vast majority of risk to staff safety is presented by patients (89%), with family members, friends and colleagues making up the minority. Already Using Agilence Analytics? Why the RFID Module is a Smart Add-On Jan 1, 2023 · Radio frequency identification (RFID) has been considered one of the most promising technologies in healthcare and has been recognized as a smart tool with the potential to overcome many challenges that health care encounters such as inaccurate pharmaceutical stock, inability to track medical equipment, difficulty in tracking patient locations, patient safety incidents, administration of RISK MANAGEMENT FRAMEWORK FOR VA INFORMATION SYSTEMS VA INFORMATION SECURITY PROGRAM 1. Aug 9, 2024 · 1. Jul 21, 2023 · They can also disrupt the access of all employees with a card through backend attacks. May 3, 2023 · An RFID system is a type of inventory management that uses RFID tags or labels attached to items, which contain electronically stored information that can be read by an RFID reader using radio waves. mlasz ljup ixotb iqdzpa tsdp siwb oeanh zeqbmf dxh rdnp