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How RFID technology revolutionized the global jewelry industry

News posted on: 2019/8/1 2:05:07 - by Benn - RFIDtagworld XMINNOV RFID Tag Manufacturer

How RFID technology revolutionized the global jewelry industry

How RFID technology revolutionized the global jewelry industry

Although RFID is widely used as an effective tool in many industries, one of the industries directly benefiting is the jewelry industry. Today, many well-known jewelry retailers have turned to automated inventory systems using RFID technology to achieve faster, more frequent inventory counts.

Maintaining accurate and reliable inventory is especially important in the diamond and jewelry industry. Traditionally, most jewelers track inventory on a daily or weekly basis. This is usually a completely manual process that requires each jewelry item to be processed separately, which is time consuming and error prone.

Such inventory tracking can lead to misplacement, loss or even theft. In such high-end businesses, even small errors or losses per quarter can be very expensive, resulting in thousands of dollars in losses that affect profits.

Manual counting also wastes a lot of time, reducing efficiency and productivity.

This is where RFID technology can revolutionize the business by tracking inventory quickly and accurately. With the help of RFID, jewelry companies are benefiting from a significant reduction in labor costs, which can quickly restore the cost of initial system deployment.

RFID vendors have developed complete solutions, including tags, readers and software for monitoring gemstones and jewelry, automating inventory processes, reducing inventory time, eliminating shrinkage and releasing salespeople to help customers.

By using RFID to manage jewelry items, individual store and jewelry chain management not only protects their significant investment in inventory in new ways, but also provides unprecedented visible inventory.

Inventory reduction - both internal and external - is a very real and difficult problem for jewelry retailers. RFID tags for individual items have a long way to go to protect and monitor valuable inventory in stores, increase protection and visibility, and prevent loss, an important part of the ROI equation for RFID implementation in the retail industry.

While improved inventory management may be a jeweler that attracts RFID, the automated inventory system has many other benefits that can be used to improve the sales process and provide additional services to customers.



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