Jewellery Business is Primed for RFID

Over the last several years there have been many investigations of the application of RFID in various industries. Two themes which have emerged as key to the successful and cost effective implementation of this technology are high product value and high control/security requirements.

Obviously, these are both present in the Jewellery Industry, making it a prime candidate for such projects. So what are the impediments to moving forward with such initiatives? Well the first is the seeming inertia present in the industry resisting change even when it is demonstrated to be for the greater good.

Some of this is based on culture and lack of trust between trading partners and industry competitors which must be addressed and overcome to allow the traditional jewellery business to withstand the onslaught of general merchandise competitors who are embracing these technologies to make their businesses more profitable.

Many may not realize, but Wal-Mart have already become the largest retailer of jewellery worldwide and this lead is only poised to continue growing as they introduce RFID to even better manage the control of inventory and speed and accuracy of reordering jewellery products to drive sales and lower working capital investment.

Completing data synchronization and introducing an electronic catalogue will also serve to rectify many of the current issues and errors between trading partners including problem purchase orders, inaccurate receiving and shipping as well as the many costly and problematic invoice mismatches.

It is true that often those who resist change will ultimately fail as competiton and other companies build better and more effective business models for servicing clients. Indeed, industry associations in the jewellery industry need to step up to the plate and help their members to Set the SCM Standards Free and lead the charge into more effective and efficient business practices.

To learn more you can review our introduction to SCN Global Data Synchronization Services or feel free to simply ASK and we’ll do our best to answer your questions and assist with this important task.

Jeff Ashcroft

This entry was posted in Associations, Emerging Trends, Information Technology, New Ideas, RFID, RFID Information, Supply Chain Management, Support Services & Industry Initiatives. Bookmark the permalink.

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