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Walmarts shift to Radio Frequency Identification (RFID) - Essay Example
There was a time when barter system was the only mode of obtaining necessary things that people didn't have. People would go to market with things that they had in excess and exchange them for the things that they needed. Business used to be that unsophisticated but it was in the process a tedious job…
With money, people could easily purchase exactly what they wanted or needed. This continued on for a few centuries and is still in use in the world though not in the same sense as it used to be before.
Today science and technology have revolutionized each and every aspect of human life. Shopping and business are no exceptions-they too have been profoundly modified by technology. Credit cards, billing systems, shopping on the web, internet bank accounts and the system of barcodes on products are some of the examples that depict the extent to which technology has penetrated into this frontier. Even though many advances have been made, global concerns are growing regarding aspects like shoplifting, piracy and misappropriation of products. To check these many solutions have been proposed like the bar code system and most recently the RFID technology. This technology has both merits and demerits as does every other technology ever conceived. Wal Mart's decision to make use of it has given it an impetus. This essay describes about the prospects and aspects of RFID technology keeping Wal Mart in the background.
RFID, an emerging technology, stands for Radio Frequency Identification. ...