Most companies have heard of radio frequency identification, but they might not be aware exactly how the technology can be deployed within a supply chain. Bill McBeath, managing director in the Supply Chain Risk Intelligence Group of Marsh, offers a basic definition of RFID, then elaborates on its many applications. RFID is more than just "barcodes on steroids" - it promises a much great level of detail when tracking and managing inventory. McBeath also talks about the challenges that go along with RFID, such as the difficulty of reading items that contain metal or water, are placed deep with a pallet, or exist in environments with high levels of humidity or static electricity. All of these drawbacks can be overcome, however, with the proper level of expertise. [Run Time (Min): 12:30]