Identified as RFID technology is all set to revolutionise the global jewellery industry, by making manual counting of inventory and products passe.
Identified as a state-of-the-art radio frequency identification (RFID) technology is all set to revolutionise the global jewellery industry, by making manual counting of inventory and products passe.
The technology provides a real-time, cost-effective solution to manage and track the inventory of millions of pieces of jewellery among many other applications.
Tagit, a Dubai-based firm, is part of the RFID revolution and is currently implementing solutions across a range of jewellery stores in the Middle East, India and Europe.
Significantly, RFID tags and inlays are used to solve issues related with supply chain management, airline baggage handling, industrial logistics, pharmaceuticals and healthcare, brand protection, libraries and media management.
Hassan Bin Jamil, Sales Director, Tagit RFID said, "there are innumerable benefits of implementing RFID solutions for jewelry and diamond businesses."
He also said, "In the diamond and jewelry industry, it is essential to maintain an accurate and reliable stock. However, outdated practises, which comes with human error, can never give exact and reliable figures. Manual stock counting exercise wastes a lot of time, which eventually leads to an inefficient and unproductive workforce. This is where RFID technology can revolutionise businesses by quickly and accurately tracking inventories."
Interestingly, the company has tagged more than five million pieces of jewellery till date, with customer base in eight countries and over 500 live sites.
Recent findings by IDTechEx Research show the rapidly growing demand for RFID technology across the globe, with the market predicted to triple in 2020 to USD 23.4 billion from USD 7.88 billion this year.
By 2024, RFID is expected to boost the business with another 29 per cent to USD 30.24 billion and will play a significantly role in almost every other industry.
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