The Jewellery Store (TJS), a new company partnered by four UAE jewellers and a bank in the Dubai Metals and Commodities Centre (DMCC), has launched a patent-pending technology driven inventory system.
The solution is based on radio frequency identification (RFID) tags to identify and track individual jewellery items before they are sold, said executives of TJS at a press preview yesterday.
An industry launch of the new solution is being held today and will be available to the wholesale and retail jewellers in the region and eventually worldwide, said the company.
"Retailers will be able to quickly and easily carry out stock checks using handheld scanners. With greater accountability for stock, TJS and its wholesaler customers will be able to offer enhanced finance and more cost effective insurance solutions to retail partners," said Gabriel Nasser, IT director of TJS.
"By providing retailers with the means to track their stocks much more efficiently than they could before, retailers will have a much better idea of what stock they have, and they will be able to detect theft much sooner," said Nasser.
The TJS offering will be available in different packages for the retailer and the wholesaler.
TJS has been formed by four partners Damas Jewellery LLC, Deepu Jewellers LLC, Yusuf Nonoo Jewellery and Standard Bank Plc, all prominent participants in the region's jewellery industry.
The DMCC is a free zone entity created by the Dubai government in 2002 to establish a commodity market place.
