EXPLOITING RFID FOR BUSINESS TRANSFORMATION: A STRATEGIC ANALYSIS VIS-À-VIS AGRICULTURAL BANK OF CHINA

RFID has brought transformation of business processes in the present time. It has overcome the limitations of barcode scanners and is also becoming cost effective. Due to this, there is an increase in adoption of RFID by the businesses across the globe. In this paper, the applications of RFID in various business situations have been studied. The transformation brought by the RFID in companies like Walmart, American Apparel, Spectrum Health's Meijer Heart Center, Agricultural Bank of China have been examined. It has been found that RFID has made their processes more automated, streamlined, efficient, reliable, secure and adaptive. In order to conduct strategic analysis of RFID implementation, SWOT and TOWS analyses haves been conducted in Agricultural Bank of China. The strategic analysis shows that Bank has become more efficient, effective, streamlined and consistent after implementing RFID. However, the Bank needs to address RFID installation, connectivity and privacy issues. It should deploy data analytics and data mining based on data collected from RFID to retain its competitive edge.