The Importance of RFID Jewellery Tags for Business Efficiency
Businesses dealing in high-value items naturally want the best security to protect their assets, and jewellery certainly counts among such precious inventory, ranging from rare gemstones, watches, necklaces, earrings, and more. Safeguarding these valuables starts with implementing a strong inventory management system to keep track of every product on hand.
The traditional way of doing this involves using SKU or UPC tags on jewellery pieces, but this approach can be incredibly time-consuming. Thus, many companies have now shifted to RFID tags for inventory management. Thanks to its proven track record, using RFID for tagging jewellery helps businesses avoid losses through theft and counterfeiting, stay on top of their jewellery inventory, and meet the inventory count requirements of their associated insurance companies. And best of all, they achieve all this far more swiftly and efficiently than any other tracking method.
Below, we cover how RFID technology introduces substantial efficiency improvements in the jewellery business.
1. Better retail tracking
RFID tags are just as useful in a jewellery boutique as in a warehouse environment where most people associate their usage. RFID jewellery tags can track these high-value products at every step of the retail journey with incredible speed and precision from their creation to the final sale. Also, companies can choose to go the custom route when it comes to these RFID tags to better suit their unique processes and needs.
2. Faster inventory management
RFID tags allow jewellery companies to gain significant time savings and greatly improve the accuracy of their inventory management process. This is all thanks to the technology’s longer reading distance, especially when using the ultra-high frequency (UHF) wavelength, without requiring a direct line of sight. Moreover, unlike UPC or SKU tags, RFID readers can read stored data from multiple tags simultaneously, making them a must-have for larger establishments dealing with a large volume of jewellery inventory. In short, RFID jewellery tags allow employees to have visibility over where each piece of jewellery is at all times without having to go around and manually count.
3. Expedited sales process
RFID allows jewellery companies to keep detailed information about their products besides simply tracking them. RFID jewellery tags can store plenty of data about each unique piece, such as its appearance, make, origin, price, and so on. Having all this information readily accessible instantly makes it easier (and faster) to bill clients and locate specific pieces within the store, contributing to higher sales performance.
4. Loss prevention
Loss prevention is essential in any industry selling high-value goods, but it is especially paramount—and tricky—in the jewellery industry, which deals in small yet highly expensive inventory. Jewellery store theft was on the rise as of 2021 and only continues to grow with each year. Therefore, jewellery stores can better deter or, at the very least, be more prepared to tackle potential theft, as RFID readers can detect tagged jewellery tags being taken away from the store immediately and raise the alarm.
5. Business intelligence
A robust inventory management system not only allows jewellery companies to keep track of the pieces they have on hand at present and glean key insights for the future. In the jewellery industry, RFID is increasingly proving to be a valuable source of important information about jewellery products that support businesses
when planning their stock volumes, production, and so on.
Conclusion
Using RFID to tag precious jewellery brings more benefits beyond inventory management and tracking and lets businesses collect data that they can use to make critical business decisions. Thus, it is abundantly clear why RFID inventory management is the ideal choice for modern jewellery companies that care about robust loss prevention and improving their operational speed and efficiency.
