Radio frequency identification (RFID) technology is offering a real-time and cost-effective solution to manage and track the inventory of millions of pieces of jewellery among many other applications, according to an expert.

Dubai-based Tagit, which is part of the RFID revolution and is currently implementing solutions across a range of jewellery stores in the Middle East, Asia and Europe, will showcase its latest technologies at the Dubai International Jewellery Week 2014, which will run from December 3 to 6 at the Dubai World Trade Centre.

To date, the company has tagged more than five million pieces of jewellery with customer bases in eight countries and more than 500 live sites.

Tagit RFID’s jewellery clients include Mahallati Jewellery, Cara Jewellers, Rosy Blue, Al Anwar Jewellery, Tejori Gems, KARP Diamonds, National Jewellery, Ahmed Kurdi, Diamond Direct, Renee Jewels, China Diamond, Hassan Al Nemer Jewellery, Malak Jewels and Singapore Jewellery.

Hassan Bin Jamil, sales director, said: “We are thrilled to exhibit at Dubai International Jewellery Week, which is an ideal platform to demonstrate the innumerable benefits of implementing RFID solutions for jewellery and diamond businesses. In the diamond and jewellery industry, it is essential to maintain an accurate and reliable stock however outdated practices, which comes with human error, can never give exact and reliable figures.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.”

The demand for RFID technology is growing rapidly across the globe with the market predicted to triple in 2020 to $23.4 billion from $7.88 billion this year, according to recent findings by IDTechEx Research.

By 2024, RFID the business will have grown another 29 per cent to $30.24 billion and will play a role in almost every industry, it said.

Based on continual research and development in RFID capabilities, Tagit has pioneered solutions for blue chip companies and sectors that were previously unexposed to RFID’s modern, time saving and cost effective results.

In addition to the jewellery industry, Tagit’s RFID tags have established solutions for several sectors in a variety of uses including supply chain management, airline baggage handling, industrial logistics, pharmaceuticals and healthcare, brand protection, libraries and media management, mass transit and event ticketing as well as near field communications (NFC) applications. - TradeArabia News Service