An apparatus and method for combined radio frequency identification (RFID)-based asset management and component authentication are provided. The apparatus comprises a plurality of components to be authenticated, a memory configured to store inventory data, a plurality of root-of-trust (RoT) integrated circuits (ICs), a wired communication bus, and a radio frequency identification (RFID) relay tag. Each RoT IC is mechanically coupled to a corresponding one of the plurality of components and configured to generate authentication data based on a unique key generated for authenticating the corresponding component. The RFID relay tag is connected to each of the RoT ICs via the wired communication bus and is configured to communicate with each of the RoT ICs via the wired communication bus and pass the authentication data and the inventory data to an RFID reader via a radio frequency signal to facilitate authentication of components and inventory management.