Accurate Jewelry and Silverware Manufacturing Asset Tracking Solution
Save Time & Accurately Track All Your Assets
In order to effect asset management in your manufacturing facility, an employee needs to walk through the facility holding a handheld computer with an RFID reader. The reader will track all the tagged assets within a certain range.
What This System Tracks
Our RFID system can track all jewelry and silverware manufacturing plant assets including:
- Precision tools, such as scales, measurement equipment and magnifying glasses
- Raw materials, including gold or silver bars, other metal items, stones and more
- Machines, including cutting machines and chain hammering machines
- Final products and inventories
- Security cameras, CCTV and other security service equipment
- All other assets your plant may utilize
Each asset will need to be attached to an RFID tag, which will be read by a handheld RFID reader held by an employee within the range of the tag.
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The Jewelry and Silverware Manufacturing Industry
Jewelry refers to a range of decorative items that are worn by people as adornment. Silver is one of the most popular and relatively cheap material used for crafting jewelry items. These items include bangles, earrings, necklaces, pendants, bracelets, brooches and many others. The jewelry and silverware industry not only make and sell silver items of jewelry, but also produces different types of eating utensils made of solid and precious metals. The industry deals with precious and luxurious raw materials such as gems and valuable stones or crystals and handcrafted metals to produce the final goods. Therefore, extensive security is to be maintained throughout the whole process.
Varieties of patterns and styles of jewelry that represent different cultures, customs or nations can be noticed worldwide. The use of jewelry can be traced back to roughly 75,000 years ago. Throughout history, they were used to symbolize the status and prominence of high-class individuals, starting from kings to wealthy merchants. In our modern-day era, jewelry is generally used to complete an outfit or to make a statement in gatherings. Nevertheless, the representation of opulence and status attached to jewelry is still prominent in the society. Moreover, in many parts of the world, these valuable items are used as formal or informal mortgage as a security compensation on a loan.
The jewelry and silverware products manufacturing industry is quite fragmented and usually filled with very small companies. The primary activities of a particular manufacturing plant incorporate manufacturing, engraving and chasing jewelry, personal or customized goods; stamping coins; manufacturing unassembled jewelry parts; manufacturing engraving, polishing precious stones or gems; re-cutting, re-polishing and setting gemstones and many other special activities. The scattered small companies tend to have a limited number of highly skilled workers who usually need a high school diploma to enter the job market of the industry. Subsequently, they are exposed to in-job training to boost their proficiency in the production sector. There are several sub-industries within the jewelry industry which focus on producing jewelry items using specific metals such as gold, silver, diamond or platinum.
The industry is considered as a luxurious one. Therefore, demand is highly dependent on the disposable income of the consumers, which also makes it an extremely price-sensitive industry. From a production point of view, the prices of gold and silver are the major drivers of the industry, which greatly influence the price of the industry products. Since there is less bargaining power over the raw materials, the cost control and efficient operations are important elements to secure price from being volatile. From the customer segment perspective, female customers, especially younger ones, are generating larger demand for the jewelry manufacturing industry, although the demand can be considered as evenly distributed among different age groups. The growing number of larger brands offering a broader product line, both in trendy and antique styles, has fuelled the demand for the market. Such brands using influential ambassadors are able to attract more customers who wear these branded jewelry items as a symbol of affluence or aspirational value. Besides, the weakening dollar trend also plays a significant role in the jewelry and silverware industry, because weakening of the dollar pushes investors from around the world to start selling their currency and to buy gold in exchange, which leads to gold price growth. Consequently, the high price of gold impacts the jewelry manufacturing industry’s costs.
The US and Canada are among the top markets of jewelry and silverware products.