Since 2002, Innovez One has been consulting its customers on implementing RFID based jewelry software management systems.   RFID can improve exponentially the business advantage of the jewelry trade.   Initially, skepticism of RFID relevance to the trade and resistance to change was prevalent.   But after traders experienced up to 70% saving in manpower cost, less losses due to theft  and other tangible benefits after RFID adoption, its acceptance steadily gained ground.

Innovez One would like to address the following common complaint :

RFID is expensive, considering the high-cost investment in equipment and tags.

1. This is absolutely untrue, if one were to compare the technology investment and its long-term benefits.
2. In the case of Advago Jewellery, we partnered a software integrator in 2003 to customize a RFID based solution. Previously Advago had employed more than 7 persons for inventory management, processing and handling transactions among other manual tasks. Their operational personnel usually spent up to 3 days to stock-take and account for all the inventory.   After the RFID based solution was rolled out, the inventory process-time dropped by almost 70%  compared to pre-RFID solution implementation.
3. Another spin-off benefit: The RFID based solution opens up the entire supply chain for complete scrutiny of every jewelry item including its tracking and location.   At Advago, in one particular case, potential theft situations were anticipated by an automated detailed audit trail.   Upon detection of the unsecured loopholes and possible losses, the management took extra precautions at once.
4. Finally, on the cost of the tags: Each tag costs about 1% or even less than the retail value of each jewelry product in most cases. Amortize that tag cost over the many lifetimes of the jewelry pieces by tag re-use, then one will see the overall costs dip further.   Compare the capabilities of a RFID-enabled jewelry business and its cost-benefits, it is clearly obvious that the latter exceedingly outweigh the former.   In addition, Innovez One has observed that the cost of RFID tags has steadily fallen, thanks largely to more efficient manufacturing processes.

This product update is published by Innovez One in this series of updates to the RFID-enabled Enterprise Jewelry Software.   Updates that make a difference to its clientele’s business edge.

About Innovez One

Innovez One is a product-based systems consultancy registered in Singapore.   The company provides business solution packages comprising software products for niche markets in Education, Marine, Jewelry and Healthcare.   Innovez One aims to streamline, automate and boost business performance for clients in those key sectors.   Its clientele includes government-linked corporations and small and medium-sized enterprises in Singapore, Malaysia and the United States of America.