The Near-field Communication in Logistics Market size was USD 21.0 billion in 2022 and is estimated to grow to USD 40.1 billion by 2028. This market is witnessing a healthy CAGR of 14.02% from 2023 to 2028.
In all contactless payments, near-field communication (NFC) is a standard technology. The impact on supply chain management, however, may be just as frequent and possibly much more harmful when integrated with the Internet of Things (IoT), in particular. Your items may be identified, and authenticated along your entire supply chain with the tap of your smart device if they are outfitted with NFC-enabled smart tags and labels, preventing theft, tampering, and counterfeiting. increase. By looking through details like the lot number, production, and expiration date, chain participants, including the buyer himself, may also verify crucial facts. Both in stores and warehouses, inventory management may be improved. Store owners can monitor the shelves and act immediately in the event of shortages or overstock. NFC-enabled tags can also be used in the warehouse for real-time warehouse management. The most significant effect is most likely quality assurance. At each stage of the supply chain, products may be checked for critical parameters like temperature and humidity. This is crucial for the food and beverage industries, where 20% of food losses are attributable to improper temperature management and 40% of items moved throughout the world need to be refrigerated. However, smart tags with NFC capabilities can track the number of quality-affecting events, including vibration, shock, tilt, air quality, and even odor. Chinese scientists have created an NFC gadget that alerts users when meat is running low on molecules that make it smell. The main benefit of NFC is that customers themselves may access important data in addition to stakeholders. A smart gadget is all you require. As a result, there should be a noticeable increase in client satisfaction and favorable reviews. Consumers may identify, authenticate, and verify product handling along the supply chain with the tap of a phone. Since this technology doesn't need a phone with line-of-sight or scanning capabilities, it may eventually eliminate barcodes.
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