RFID, Recession and Globalization Are Crossing Roads … With Challenges Are Opportunities

More than ever I now realize the importance of learning from life’s sessions.  Who could have ever predicted in the past 10 years we would have globalized as much as we have and in the past three years have been faced with the most challenging economic conditions in all our generations. As part of my six year journey in the RFID industry, I have had the opportunity to travel around the globe and be introduced to more cultures and ways of thinking than ever before. You look around both here at home (which for me is between North and South America) and globally to realize how much of impact we have had on each other, how much more there is still to learn and the potential opportunity the combination of both these circumstances presents.

So what does this retrospect of thoughts mean to us in RFID?  In general, many market conditions have caused us to get where we are today. The potential of an emerging industry like RFID (and more broadly sensors which are already all around us) is boundless figuratively and literally.  Here is why.

1) The industry started to really grow just a few years before the recession and many industries (if not viable) would have starved and become insignificant.

2) I find myself more than ever being involved in tangible real life solutions globally

3) The globalization our economy and everyday lives has presented us with more than ever a need for us to connect at any time and place with enriching information.

4) We have the internet for people and saw the impact this development has had on our economy and lives.  We are building the internet of things and no other industry other than RFID has presented an answer on how these two technologies converge on one another.

How can we be successful?

1) We must all acknowledge and have an awareness of the world around us. The USA and Europe still have many key decision makers and large market capitals but the reality that is changing.  The other reality is, even when a project is initiated from these markets the actual implementation, support and future development of the solution is happening globally.

2) Continue to work together, learn quickly from our mistakes and innovative solutions adding value today and have relevance towards the future.  Many people speculate when will the industry come  of age (is it this year,  next year or 5 years from now).  I believe we should be less focused on when and more focused on how. As I stated earlier it’s just a matter of timing and making sure you are still relevant when it happens. I was watching a program on CNN earlier last week discussing the state of our economy and the impact globalization has on our and future generations to come.  The comment that caught my interest the most is “Average is no longer good enough”. We are all now competing with the global marketplace therefore we all need to think and work like artisans. This means we need to be so proud of your work you would be willing to engrave your name in the craft.

I’m sure there are many other opinions on why and how we can be successful in RFID and what challenges the crossing roads of the recession and globalization has presented us with. But this should shed some light on my opinion of the business principle with challenges are opportunities……….