Below is a short qualitative risk assessment of RFID (Radio Frequency Identification) I have pieced together. In order to highlight strengths, weaknesses and benefits.
May it help you come to a conclusion on how would you deploy this technology while minimizing its risks?
| Category | Risk | Impact | Probability | Affects |
| Customer | QoS for customers declines because decrease in staff | Medium | Low | Customers, Company rep. |
| Customer | Customers may be dissatisfied with change | Medium | Medium | Company rep, customers |
| Fraud | Scale to RFID Fraud | Low | High | inventory |
| Fraud | Hackers making there own RFID tags | High | Low | Revenue, company rep, emp trust |
| Inventory Management | Mis-tagged or no RFID tag | High | Medium | Inventory, revenue |
| Employees | Adaptability | Very High | High | Employee trust |
| Employees | Lose or trust | Medium | Medium | Employee loyalty |
| Employees | strike | Low | Low | Company rep, employee loyalty, revenue |
| Employees | Productivity to meet new expectations | Medium | Low | Inventory, company rep, customer loyalty |
| Pricing | Lack or pricing from no supervision of ID creator | Low | Medium | Revenue, company rep. |
| Pricing | Inconsistencies | Medium | Medium | revenue |
| Pricing | Scanners not scanning all items | Low | Low | Inventory, revenue |
| Inventory Management | Mis-counts or stock and poor inventory control | Medium | Low | Inventory control |
| Technical Issues | RFID not functioning | Very High | Medium | Data, company rep, employee trust, customer trust. |
| Technical Issues | RFID limitations | Medium | Low | data |
| Technical Issues | Lack of knowledge for RFID or when system goes down | High | Medium | Customer loyalty, company rep. |
| Technical Issues | Designing Standards and processes | Medium | Medium | Employee trust |
| Inventory Management | RFID supplies not delivered on time | Low | High | Inventory, customers, inventory |
| Inventory Management | Lack of knowledge for RFID inventory processing | Medium | Low | Employee, company rep. |
Srength:
- Become a leader through technology
- Improve process flow
- Customer satisfaction by adding value to customer services
Weaknesses:
- Lack of technical support knowledge
- RFID tagging on devices and produce
- Major inventory fluctuations
- Internal fraud
- Damage to reputation of RFID is not effective
Benefits
- Better real time data and additional data to make assumptions by
- Possible opening to new market segments
Cost would be on schedule and worth the cost if all negative risks had a contingency plan. Costs can be fixed in the system and validated during pilot program to ensure cost consistency.
Reference:
Amber Russell, Curt Ireton, Damon Mulligan, Jan Bondoc, Tyler Rudolph. (November 2009). Risk Management Plan. RFID Implementation for Fresh Foods. Retrieved from http:// www.curtireton.com/Assets/Fresh_Foods_Risk.pdf
