LAWRENCEVILLE, N.J.– EPCglobal US has introduced an EPC Value Model for the chemical industry with aim to help companies identify the benefit and value to be gained from the technology by determining the financial impact of implementing EPC/RFID in their business processes and supply chains.
The EPC Value Model was developed in partnership with companies, students and professors at the Stanford University Global Supply Chain Forum, the University of Eindhoven, and EPCglobal US.
The value model provides detailed analysis of the primary industry specific business drivers for adopting EPC/RFID. It is designed to provide companies with specific projections based on real-world variables they input themselves and includes critical research notes, a financial modeling tool and a user guide.
“The EPC Value Model for the chemical industry will be extremely useful for companies that are just beginning to think about implementing EPC/RFID or are already building their business case,” said Dave Asiala, IT Director for Shared Services at Dow Chemical.
“The value model will help chemical companies quantify the business benefit they could realize from RFID, and help them make informed decisions about where EPC/RFID can provide the most value to their business processes.”
In developing the EPC Value Model for the chemical industry, researchers identified some of the key issues facing the industry. These included globalization, rising fossil fuel and feedstock prices, increased transportation costs and more stringent regulations. “The chemical industry is moving quickly toward implementing EPC/RFID and this value model will help them identify where they can obtain the greatest return on their investment,” said Mike Meranda, president of EPCglobal US.
“Our goal is to drive implementation and adoption of EPC/RFID across multiple industries and these tools will help business leaders understand how they can operate their supply chains better, safer, and less expensively.”