TY - JOUR
T1 - Fuzzy rule-based system for the economic analysis of RFID investments
AU - Ustundag, Alp
AU - Kilinç, Mehmet Serdar
AU - Cevikcan, Emre
PY - 2010/7
Y1 - 2010/7
N2 - Radio frequency identification (RFID) technology introduces the opportunity for increased visibility by facilitating easy tracking and identifying of goods, assets and even living things. The number of RFID applications and users in various fields are growing. However, high investment cost and inadequate technical capability still remain as challenges for RFID system implementations. That being the case, fair evaluation of savings associated with increasing performance and investment costs has a great role in the success of RFID projects. In this study, a systematic framework for the economic analysis for RFID investment is proposed. In this method, the elements of cost and benefits are determined in order to measure the value of an RFID investment. The expected increase of customer order is determined in terms of delivery accuracy and delivery time via a fuzzy rule-based system. The Monte-Carlo simulation method is used to determine the expected net present value (NPV) of RFID investment. A case study is constructed on the basis of expert conception to illustrate the proposed method.
AB - Radio frequency identification (RFID) technology introduces the opportunity for increased visibility by facilitating easy tracking and identifying of goods, assets and even living things. The number of RFID applications and users in various fields are growing. However, high investment cost and inadequate technical capability still remain as challenges for RFID system implementations. That being the case, fair evaluation of savings associated with increasing performance and investment costs has a great role in the success of RFID projects. In this study, a systematic framework for the economic analysis for RFID investment is proposed. In this method, the elements of cost and benefits are determined in order to measure the value of an RFID investment. The expected increase of customer order is determined in terms of delivery accuracy and delivery time via a fuzzy rule-based system. The Monte-Carlo simulation method is used to determine the expected net present value (NPV) of RFID investment. A case study is constructed on the basis of expert conception to illustrate the proposed method.
KW - Fuzzy rule-based system
KW - RFID implementation
UR - http://www.scopus.com/inward/record.url?scp=77950188269&partnerID=8YFLogxK
U2 - 10.1016/j.eswa.2010.01.009
DO - 10.1016/j.eswa.2010.01.009
M3 - Article
AN - SCOPUS:77950188269
SN - 0957-4174
VL - 37
SP - 5300
EP - 5306
JO - Expert Systems with Applications
JF - Expert Systems with Applications
IS - 7
ER -