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Economic analysis of RFID investments for construction project management using ANFIS

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  • Thoedtida Thipparate

Abstract

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 such as retail, electronic transaction, logistic and supply chain management, scientific research, security, etc. However, a widespread application of RFID in the construction industry has not taken place. High investment cost and inadequate technical capability still remain as challenges for RFID system implementations in the construction industry. Thus, the success of RFID projects is based on the evaluation of savings associated with increasing performance and investment. 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 input values for testing the developed model. A case study is constructed on the basis of expert conception to illustrate the proposed method.

Suggested Citation

  • Thoedtida Thipparate, 2013. "Economic analysis of RFID investments for construction project management using ANFIS," International Journal of Information Technology and Management, Inderscience Enterprises Ltd, vol. 12(1/2), pages 129-142.
    • Handle: RePEc:ids:ijitma:v:12:y:2013:i:1/2:p:129-142
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