Famed retailer Syms/Filene’s Basement filed for Chapter 7 on November 2, 2011, and is closing all 47 stores. Marcy Syms, the company’s chief executive, said in statement that the two discount chains were burdened by increasing competition from department stores… she also said there was less overstock for her company to buy as businesses managed their inventory carefully. One way this is being accomplished is with inventory management employing RFID tag systems
RFID systems received their biggest endorsement when one of the globe’s leading retailers, Wal-Mart, harnessed the power of tags by placing them in clothing items to assess buying patterns, prevent losses and create a more efficient inventory system, from the receiving department to the point of sale. But you don’t have to be the size of Wal-Mart to benefit from the implementation of RFID in a wholesale or retail store environment.
But you’ve done okay up to now, so why change? Jewelry retailers, consider how often have you heard customers say that they can’t tell you exactly what kind of jewelry designs they like, but will “know it when they see it”! While that can work for your customers, it’s impossible to tailor your inventory to the ideas in their imaginations, and guessing can be costly and inefficient. That’s where RFID comes in. By using these tags with a system integrated RFID pad reader on the countertop, you can monitor what pieces of jewelry are being shown most often and how often they are being purchased. You can also find out which pieces aren’t impressing customers and consider ceasing to order that jewelry in the future. With RFID tags on your items and a pad reader on which to place items shown, the readers will take care of the statistical calculations for you.
Speaking of ordering — in addition to helping you compile statistics on which to base ordering decisions, you can also use RFID to monitor stock and trigger automatic re-orders. Because you can take inventory in seconds rather than days, all you need to do is scan your jewelry cases and you can create accurate purchase orders reflecting the tastes of your clientele. You’ll never have to worry about overstocking unpopular items or running out of in-demand items; you can easily set up a low-stock alert to stay one step ahead of the game. Setting up inventory alerts can create profitable partnerships between retailers and manufacturers, all thanks to the efficiency and instant access to information that RFID provides.
Using RFID in a retail setting not only helps you streamline your inventory and cut losses but also promotes smarter staff decisions. RFID-equipped pads can tell you which salespeople are the most efficient by monitoring who is showing and selling individual pieces of jewelry. You could even access information such as what day and time you have the most purchase activity; the potential of RFID is limited only by your imagination.
If you’re a retailer looking to build better relationships with your suppliers and jewelry manufacturers, implementing RFID can help. Your store will soar to the top of a manufacturer’s priority list once representatives experience the ease of assessing inventory in an RFID-equipped retail setting. Reps can serve your stores better and will be thankful for the time your RFID system saves them.
The inventory management benefits of RFID are real, which is why retailers and suppliers to leaders such as Wal-Mart, Target, Marks & Spencer, and Albertsons have been hurting competitors by implementing this technology in retail settings. RFID is quickly moving from the warehouse to the sales floor, bringing with it an array of benefits for both retailers and their suppliers. The efficiencies it brings will revolutionize the entire retail jewelry supply chain; and threaten to eliminate those who fail to implement and sharpen their game with RFID.
Tim Murphy, Former Modern Jeweler Publisher Joins Trac Tech
New York - Trac Tech has brought on well-known jewelry Publisher, Tim Murphy, as Vice President. He brings over 25 years’ experience in sales and marketing.
Murphy will be driving sales and strategy for Trac Tech, designer of RFID (radio frequency) inventory tracking system tags since 2003; reducing hours to minutes and increasing accuracy in every department. Companies such as GN Diamond, and MK Diamond and many others are now using RFID to lower inventory costs and streamline their businesses.
Trac Tech is an 8 year old company. CEO Keven Peck and CIO Meir Strobel are jewelry industry veterans who have worked to perfect RFID for the jewelry industry, and can provide expert consultation and service based on their deep experience in every phase of the business.
“RFID use is set to explode in the jewelry business. One of the last high value product industries to adopt the technology, industry leaders are very quickly realizing savings and more importantly, the ability of RFID to make them more competitive. Our experience is that companies using Trac Tech RFID pay for the entire system in 6 months ” says Murphy.
For a short demonstration of the Trac Tech system, visit www.tractechsystems.com/benefits. To discuss the systems application for your company, contact Tim Murphy at 914-882-7698 or email at email@example.com
Because RFID tagging is a mature, trusted technology, several types of tags have been developed for the jewelry industry. Each offers unique characteristics, and is appropriate for different applications.
TracTech RFID Tags are passive – no battery required – tags that are durable and reliable, and can be put in a sonic bath, yet they are still inexpensive. TracTech tags are disposable, which eliminates the labor of removing chips or re-assigning SKUS. TracTech RFID tags compare favorably to the alternatives:
Plastic Clamshell Tags: These large tags are bulky, making them unsuitable for most jewelry trays and displays. Chips are permanently embedded in the tags; these can be reassigned after a sale to new inventory, but the cost per tag is often prohibitive.
Reusable Paper Tags: These tags are smaller and suited to jewelry displays, and the chip can be removed for reuse. However, the chips are set in glue and can be difficult to remove and to store for reuse. The chip-securing glue inside the tag heats up under store lights, which could cause the tag to come apart.
While stability can be desirable for your business, it’s important to avoid stagnation. Change is inevitable in businesses of all sizes, and more often than not, failure to change can lead to failure to compete in the jewelry market. One of the biggest changes in today’s market – and one you can’t ignore – is the rise of smart technology such as Radio Frequency Identification, or RFID, tags. While this revolutionary inventory control technology was originally favored by large corporations, RFID tags can be effectively implemented by any size business, giving you the edge you need to outpace your competitors.
What Exactly is RFID and How Does It Work?
RFID can be the single most effective tool your business uses. Radio frequency identification is a system using radio waves to track and identify objects based on data assigned to tags attached to SKUS of your choice. RFID systems consist of readers and tags, which contain receivers and transmitters for the assignment and storage of data. Once you’ve assigned data to tags on your inventory, your RFID reader can identify the tagged items instantly and pull up all of the data – pricing and purchase history, for example – that you’ve assigned to the tag. RFID is an efficient data storage and inventory control system in one.
Am I Big Enough for an RFID System?
Almost any size business can see an increase in its bottom line profit from RFID. Simply put, if you have an inventory that would benefit from increased organization and enhanced control, RFID is for you.
Exactly Which Departments Will Benefit Most From RFID?
Harnessing the power of RFID tags and readers will have a significant benefit for your departments. This technology promotes a streamlining of your business, reducing time and losses. Because of the speed at which RFID readers can scan tagged items, you will be able to perform inventory checks quickly and easily, as often as you want. This aids in loss prevention and eliminates the need to pay employees to painstakingly check over each and every item when they could be performing other valuable functions for your business.
The ability to store and recall information instantly with RFID tags will turn even your newest employees into experts on your valuable inventory. When used effectively, the tags can help your sales team sell items by providing critical information on items in an instant.
RFID use can also improve accuracy in your shipping department. Your RFID scanner reads through the sealed box being shipped, which ensures everything on the Purchase Order that’s supposed to be in a package is actually there. Using this method, discrepancies can be eliminated
How Can I Measure My ROI?
Change isn’t always good – if you implement a new system that doesn’t actually provide advantages, your time, money and effort is wasted. With RFID, however, the ROI is clearly evident, instant and significant. Electronic management of your inventory reduces man-hours and money dedicated to inventory control, and the elimination of human error promotes loss prevention. If you’re a small firm, the increased efficiency RFID provides can help you compete with larger firms that have more resources. The information stored on RFID tags and the ability to scan shipments produces superior customer service. In other words, RFID use provides measurable benefits for your entire business.
For a complete study on RFID’s ROI, call Tim Murphy at (212) 682-4172.
But Is RFID a Long-Term Investment?
There’s got to be a catch, right? Not with RFID – the system usually pays for itself within six months.
Is There Any Risk RFID Won’t Work For My Business?
RFID has a proven track record; this is not an experimental technology, and it’s easy to implement. RFID works for big and small businesses – leaders in all fields of business are taking advantage of RFID – how about you?
Will RFID Require a Change in Our Procedures and Software?
The only change in your business will be the increase in efficiency – an estimated 90 percent improvement in speed. You can retain all of your current procedures; RFID will simply add a new SKU subroutine.
How Much Downtime Should I Allow For RFID Integration?
One way in which RFID is superior to other inventory management systems is that it requires no downtime. All system testing is performed offline, and within eight weeks, you’ll be able to reap the full benefits of a fully tagged inventory and an up and running system.
What Do I Do Next?
For more information on RFID and the benefits it will provide for your business, call Tim Murphy, TracTech Vice President, at (212) 682-4172 or send him an e-mail at firstname.lastname@example.org.
TracTech Systems introduces its new flatbed design reader to its family of RFID (Radio Frequency Identification) readers. Designed to enable jewelry manufacturers, diamond dealers and retailers to identify hundreds of items per minute, this new, thin lightweight flatbed TracTech reader is highly portable and relies on RFID jewelry tags to accurately count and manage your inventory in a fraction of the time needed to scan bar coded or read handwritten tags.
RFID is easily integrated with your current software by partners at Logicmate, Diaspark, Microsoft Dynamics NAV e-jewelry, MPI Systems and others. And with its new, smallest tags yet, TracTech is the right inventory control system for any environment.
Contact Tim Murphy, VP Sales, TRACTECH SYSTEMS, INC., 6 E. 45th St., 17th floor, New York, NY 10017; 212-682-4172 ext. 29, email email@example.com.
TracTech Systems RFID reader viewed from the side with a tray of rings
TracTech Systems RFID reader viewed from above
Watch the TracTech Systems RFID in use:
» Download high resolution image (1.7 mb)
New York, NY – TracTech Systems, the leading producer of Radio Frequency Identification (RFID) diamond and jewelry inventory management technology, has collaborated with IT service and jewelry software specialist Diaspark to enhance the inventory management capabilities of Diasparks industry leading software. By leveraging the jewelry-specific software produced by Diaspark (www.diaspark.com), TracTech Systems will be able to provide innovative, effective solutions for businesses of all sizes.
“The Diaspark software perfectly complements the capabilities of TracTech Systems and offers business owners unparalleled inventory control capabilities,” explained Meir Strobel, TracTech Systems Vice President. “Using Diaspark’s software allows you to harness the true power and potential of our RFID technology.”
The Diaspark software integrates with TracTech Systems RFID tags and readers, allowing the production of customized inventory and sales sheets, staff performance tracking records and shipping reports. Both TracTech and Diaspark’s products are designed specifically for jewelry and diamond inventory management and offer options that cannot be found elsewhere.
“TracTech Systems integrates seamlessly with Diaspark to put you in control of both your inventory and your sales team,” Strobel noted. “Using these two tools is like having an eye on every piece of jewelry in your inventory at all times.
TracTech Systems is the pinnacle of inventory management in the jewelry and diamond sector. TracTech Systems RFID tags and readers scan hundreds of items in seconds, and allow users to assess inventory efficiently and accurately, even through sealed boxes. Adding the Diaspark software package to this system dynamically links inventory, sales and shipping for complete security and control of valuable inventory.
About TracTech Systems
TracTech Systems is the leader in RFID inventory management thanks to its revolutionary system of RFID tags and readers. TracTech Systems eliminates human error and identifies large batches of items instantly, so there is no need to count inventory by hand. This technology has been featured in publications such as the MJSA Journal and InStore Magazine. Click here to learn more
RFID technology is an ever-expanding field, and new uses for RFID tags and RFID readers are being discovered seemingly daily. The beauty of RFID technology is that nearly anything you can imagine can become a reality through the application of RFID tags and readers. One of the latest innovations is the use of RFID technology to assist blind workers in performing jobs, an idea recently explored by the RFID Journal.
One facility pioneering the use of RFID tags to assist visually impaired and blind workers is the Salisbury, MD location operated by Blind Industries and Services of Maryland. Here, an innovative RFID technology system aids visually impaired and legally blind workers pack boxes and prepare them for shipment.
The RFID technology system set up at the Blind Industries and Services of Maryland facility in Salisbury is a modified version of many traditional RFID systems. But rather than displaying information on a screen, the facility uses audio cues for blind and visually impaired workers. Thanks to the complexity of RFID tags and readers, a wide array of information can be processed by the computer and easily communicated via audio options.
In addition, the workers use a touchscreen to assist in other tasks. Thanks to the speed of the RFID tag readers, the system can also instantly communicate the amount of items present in shipping boxes, or the number of additional items that are needed. In addition, the RFID technology can tell workers when boxes are over-packed. Innovative uses of RFID technology such as that employed at the Blind Industries and Services of Maryland facility in Salisbury, MD, showcase the power of RFID tags and readers when a little ingenuity is applied. RFID technology is not only capable of speeding up shipping, packing and inventory management, but can also help provide equal opportunities in the workforce.
Ready to see what RFID technology can do for you? Schedule a demo of TracTech Systems by clicking here, or watch a video to see TracTech Systems RFID tags and readers in action right here.
The days of radio frequency identification (RFID) technology being the future are over. Thanks to the seemingly limitless capabilities of RFID tags and readers, RFID technology is now the present and the future.
In just a matter of years, major international corporations have realized the existing power and unlimited potential of RFID technology. The reason is simple – RFID equipment is efficient and effective, allowing companies to perform a plethora of tasks while using one piece of technology. RFID helps companies such as Wal-Mart with not just inventory management, shipping and receiving, but loss prevention as well.
In August, Wal-Mart announced that a massive number of clothing sold at the retailer’s locations would carry RFID tags. The tags not only keep tabs on whether or not the clothing leaves the store without payment, but can also help Wal-Mart decide what to stock in the future. And because of Wal-Mart’s behemoth market share, other industries are following suit. Among the groups on the cutting edge are diamond wholesalers and dealers, where managing valuable inventory is of the utmost importance.
But don’t think the adoption of RFID tags in major corporations is limited to just the sales floor; wholesalers use RFID technology to track shipments of every product to and from distributors.
And while the massive scope of RFID implementation in some companies can be overwhelming, you don’t have to be a multinational corporation to embrace RFID technology and its benefits. TracTech Systems prides itself on client interaction, and can show you how our RFID technology can improve your business, no matter what the size.
TracTech Systems makes inventory management simple – you can know what’s in your shipments without opening the box thanks to efficient read speeds through a variety of packaging materials. Loss prevention is a breeze as well, with accurate inventory scanning available at the touch of a button. TracTech is also specially designed to integrate with a variety of software platforms such as Microsoft Dynamics NAV and LogicMate.
If you have any questions, please call us at (212) 682-4172. TracTech’s RFID specialists are standing by to show you how our technology can be the all-in-one solution for your business. We’d be more than happy to stop by for a demo, so you can see TracTech Systems at work where you work.
Radio frequency identification, or RFID, technology, is still in its infancy, with new, innovative uses emerging seemingly every day. While the predecessors of RFID technology can be traced back to transponders invented in the early 1900s and used to identify aircraft during World War II, the dawn of modern RFID devices did not occur until 1969.
That year found inventor Mario Cardullo conceiving a radio transponder equipped with changeable memory. The passive device had a wide variety of uses in the field of transportation; appropriate, as Cardullo was inspired to design the device after speaking with an IBM engineer who was frustrated with a train identification system that used reflected beams of light. Cardullo realized that using radio frequencies could solve many of the problems associated with light transmission, such as dirty reflectors rendering the system inoperable. (1)
Even at this early stage, the potential applications for RFID technology were widely realized, at least by Cardullo. The inventor’s original business plan included suggestions for automatic tolls, vehicle monitoring and electronic license plates. Other potential uses included applications in the fields of banking, security and health care.
Some of Cardullo’s original ideas have been implemented only recently; users of EZ Pass and its brethren appreciate the use of RFID tags that enable them to pass through tolls without change. RFID tags are also being used in innovative systems that link credit card information to RFID tags and readers, so you can purchase items with your cell phone. RFID tracking can even be used for shopping loyalty programs, so you can give your key chain a rest.
In the realm of RFID tracking and technology, the only limit is the imagination. Innovative uses are just an epiphany away, and RFID technology is powerful enough to change your life in ways you might not have even realized were possible.
NEW YORK – TracTech Systems (www.tractechsystems.com), the leading producer of Radio Frequency Identification (RFID) diamond and jewelry inventory management technology, has completed a new RFID tag that will improve upon its existing business hardware. The new tag integrates with all TracTech Systems models and offers new advantages for wholesalers and small businesses alike.
“The new RFID diamond tag has been engineered to conform to the majority of diamond papers and provide even quicker read speeds,” explained TracTech Systems Sr. Vice President Meir Strobel. “These enhanced tags bring the latest in RFID technology to TracTech Systems users.”
The introduction of the improved smaller RFID tags is a result of TracTech Systems’ commitment to diamond and jewelry industry professionals. The company engages in dialogue with clients and industry leaders to enhance the features offered by the TracTech Systems inventory management technology.
“One of the most popular features of TracTech is that it allows users to scan parcel papers through sealed boxes,” said Strobel. “These new RFID tags offer quicker read speeds through most materials, improving the efficiency of tracking as well as loss prevention tasks.”
In addition to the increased speed, the new RFID tags are designed to align seamlessly with the majority of diamond papers used in the jewelry industry. This enhancement makes adopting TracTech Systems simply and easy.
ABOUT TRACTECH SYSTEMS
TracTech Systems is the leader in RFID inventory management thanks to its revolutionary system of RFID tags and readers. TracTech Systems eliminates human error and identifies large batches of inventory instantly, so there is no need to count inventory by hand. TracTech Systems can accurately scan hundreds of diamond and jewelry pieces in seconds and can report detailed history of individual items. TracTech Systems is compatible with a number of software packages, including LogicMate, Diaspark and Microsoft Dynamics NAV. This technology has been featured in publications such as the MJSA Journal and Instore Magazine.